Strategic Defaults Can Definitely Depress Local Housing Prices

I’ve been away on vacation, but a quote in an article from three weeks ago on CNN caught my eye. It has something that is very important to address when looking at strategic defaults. But don’t expect a few depressed mansions to bring down the neighborhood. A single foreclosure in an otherwise wealthy area is […]

Full Recourse: The Key Difference Between the Canadian and U.S. Housing Markets

The largest difference between Canada’s housing market and the U.S. is that Canadian mortgages are full recourse. In Canada, if you take out a mortgage and then default when it is ‘underwater’ – your home value is less than our mortgage – your other assets and future income are at risk. In the U.S., only […]