The Federal Government of Canada has continuously mentioned and warned Canadians of the potential tsunami of personal debt load in this country. In comparison  to other parts of the world, the Canadian real estate market has maintained and out performed many other parts of the world. As a result families that have been hit hard by losing their jobs or a new mother deciding to stay at home for an extended period of time with child; may look at the built up equity in their homes to finance the luxury. Unfortunately, this bubble could be coming to a tumultuous head. Recently the government reduced the LTV (Loan to  Value) ratio from 95% to 85%, as a result those individuals that continued to roll their mortgages by increasing the debt, while taking advantage of the increased values of their properties may find themselves in a difficult position. There will be no more equity available and a decision will be forth coming do we look for more expensive money to keep our home or walk away? The Canadian Mortgage and Housing Corporation (CMHC), responsible to insure mortgages in Canada has set limits of $600 Billion up from $450B in 2008 because of the global economic crisis. At present CMHC is backing $541B of which the federal government will ultimately cover the corporations mortgage guarantees. As the demand for CMHC mortgage insurance increases so does the collective exposure of Canadian taxpayers. Please take the time to review the articles below, a real eye opener.
http://www.cbc.ca/news/business/story/2012/01/31/cmhc-mortgage-limit.html

http://business.financialpost.com/2012/01/30/canada-facing-subprime-mortgagerisk/?utm_source=ch&utm_medium=rss&utm_campaign=ps
Syrians continue to be killed by their own government. It must stop!