Ever wonder why Canada's banks didn't threaten to crumble as did the American banks in 2008 and 2009? Check out this article. I say there are three dominant factors: full recourse loans (no walkaways from an underwater mortgage), more prevalent mortgage insurance, and no tax deductability for mortgage interest.
In general, I dislike using the tax code to encourage socially acceptable outcomes and mortgage interest deduction is but one example. The temptation for political shenanigans is just too high for politicians to resist. I've read about similar home mortgage environments in places like Holland and Denmark. The Canadians seem to have done this one right.
Woke Terror
I recently heard a new phrase that stuck in my head like a dart in a dart board - Woke Terror . In our world a formerly innocent remark...
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I recently heard a new phrase that stuck in my head like a dart in a dart board - Woke Terror . In our world a formerly innocent remark... -
I had the great pleasure of reading and re-reading Adam Smith's "The Wealth of Nations" many, many years ago. I may be the onl...
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A quick essay by Robert Higgs at The Foundation for Economic Education asks the interesting question, Do We Really Consent to Be Governed? ...
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