A deep dive into Rocket Mortgage's exit from Canada, highlighting how the Canadian banking system favours the Big Six banks. The episode also covers Hudson's Bay's creditor protection filing and CMHC's new MLI Select program restrictions, concluding with insights into Canada's most affordable cities.
Key Points:
- Rocket Mortgage's exit demonstrates how Canada's unique mortgage system and Big Six banks' dominance creates barriers for international competitors.
- Hudson's Bay, North America's oldest company, files for creditor protection amid retail sector challenges.
- CMHC implements sudden changes to MLI Select program, affecting investors' ability to bundle single-family home purchases.
- 8 of the 10 most affordable markets are in the same province
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