Mark Carney is the reason Canada basically bypassed this recession. It was so minor hear it was barely noticed, the biggest impact was the stall in new house co

Mark Carney is the reason Canada basically bypassed this recession. It was so minor hear it was barely noticed, the biggest impact was the stall in new house construction. However our banks thrived, they profited by offering loans to major banks down in the US. House prices are on the up and up. Me and my wife bought just before they tightened up mortgage regulations here, since then house prices in our area have been going up by about 13% per year as banks were no longer issuing mortgages for Toronto house prices ($500k and up) as the down payment required doubled and they increased the threshold on the default insurance (you need about 15% down to get the same rate you used to at 5% down). However, the banks were being so risk averse in the recession I couldn't even get approved for a $500 credit card. I'm from the UK, so with no credit history I was an untouchable. A couple years earlier my wife with essentially negative income as a student had been handed cards left, right and centre.