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The Netherlands crisis is Vancouver

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PatrickGunville | 27 Aug 2013, 08:21 AM Agree 0
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The Netherlands real estate market is in the midst of a tremendous collapse in values. This is primarily due to billions in mortgage lending, since the 90's, very little to no equity required down, low rates, and generous lending policies. This is almost an exact image of Canada, and particularly Vancouver. Not only do we have little down payment requirements, super low rates, and generous lending policies, but our prices are actually a whole lot higher than the Netherlands as well. The Netherlands was Berlin's last standing ally in sound budget policy, and now we see it too is collapsing. Canada too, is strongly viewed as a conservative country, with low debts, and a strong banking system. However, we can see through the propaganda, as it is clear countries with less debt and touted "strong" banking systems, are beginning to fail around the world.
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