Yeah, it's hard to convince people that the CRA was not responsible for the real estate collapse. There were property bubbles in Spain, Ireland, Britain, etc. The CRA was responsible for those, obviously.
It's easy and natural for one to want to collapse a complicated issue into something manageable and understandable. Even if there is no evidence for it.
Holding interest rates artificially low, and very favorable tax treatment for real estate investments and gains, clearly added a lot of air to the bubble.
It's easy and natural for one to want to collapse a complicated issue into something manageable and understandable. Even if there is no evidence for it.