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Calgary housing boom poised for bust on oil prices
The oil that fueled Calgary’s housing boom has created the conditions for a bust.
Genworth MI Canada Inc., the country’s largest non- government mortgage insurer, said last week it’s preparing for more losses this year and into 2016. Home Capital Group Inc. The largest non-bank mortgage lender, is tightening standards in the oil-rich province of Alberta to reduce the risk to the company of falling housing prices.
Read the full article here.
The oil that fueled Calgary’s housing boom has created the conditions for a bust.
Genworth MI Canada Inc., the country’s largest non- government mortgage insurer, said last week it’s preparing for more losses this year and into 2016. Home Capital Group Inc. The largest non-bank mortgage lender, is tightening standards in the oil-rich province of Alberta to reduce the risk to the company of falling housing prices.
Read the full article here.