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It's $500m that went to "honest Canadians" selling their real estate. The house isn't gone, it's still there, and will probably get sold to Canadians when the b
by PeterisP 3y ago
It's $500m that went to "honest Canadians" selling their real estate. The house isn't gone, it's still there, and will probably get sold to Canadians when the bubble pops, possibly much cheaper.
- fennecbutt 3y agoAhaha, the bubble popping. That'll be the day. All they're doing is increasing house prices for no reason. Houses are now just casino chips for rich people.
- PeterisP 3y agoOn the other hand if it doesn't pop, then it literally doesn't matter if the income documents were fake, as the bank has good collateral and giving the loan turned out not to be a mistake.
- xyzzy_plugh 3y agoNow you're thinking like a bank.
- antisthenes 3y agoOh, and think of the tax revenue! ;)
- medvezhenok 3y agoFraud is fraud, so it does matter. Same way that SBF is still going to jail even if the people with money in FTX get their money back (via crypto rising again / the AI investment). The real people harmed were the Canadians trying to start a family who got outbid on the house.