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Harper’s Back and Banking’s Fine

Well, Stephen Harper and the Conservatives won a minority goverment. I was hoping for a majority, but such is life. A Conservative Majority would have been the best scenario for Canadian Real Estate, but at least it seems to be a strong enough minority to be stable for a while. The world economic situation and the realtive uselessness of Stéphane Dion mean the other parties won’t be interested in forcing an election anytime soon.

The decision to buy out $25 B in CMHC insured mortgages was a well reasoned decision, and completely different from the bailouts occurring in the US and across Europe. I have full confidence in the Conservatives to make intelligent policy decisions that will see us through the turbulence of the Global situation, capitalizing on the strong banking system and economic fundamentals we have.

The decision to lend $10B in short term cash was also a good idea. The cautious, methodical approach to the situation is why the World Economic Forum said Canada has the soundest banking system in the world. Don’t sweat what’s going on.

I also think that now is not the time to lock your mortgage in, unless you lose sleep about it at night.

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