Good. Taxpayers should not be on the hook for any of this ridiculous sepculation.

CMHSC should not insure any house 10% above the average house price in Canada....say 450,000. 1 million is ridiculous. Why should taxpayers be backstopping milion dollar houses?

Also banks should have to shoulder at least 10% of the risk of even the mortgages insured with CMHSC to ensure that they do their due diligence.

Finally raise interest rates and impose an  imediate 33% wihtholding tax on all money flowing across canadian border. This tax would be returned to anyone who can show they filed a CRA return on it, and thus paid tax in Canada...why should we allow foreign capital unfettered access to our real estate market?