Southseacompany pointed out this article in the Chicago Tribune:
“Home sales and prices have shown unexpected strength as the lowest mortgage rates in decades spur demand. ”
“With mortgage debt rising, the economy will be exposed when interest rates rise, said Andy Nasr, senior portfolio manager at Calgary-based Middlefield Capital Corp. which manages about C$4 billion ($3.6 billion), including real estate stocks.
“The misconception is that ‘Well it’s OK because people can somehow afford it,’” he said in an interview at Bloomberg’s Toronto office Friday. “They can’t.””