ML-Implode News - I attended the top of the Canadian Housing Market, so you didn't have

The second important factor in real estate is financing. Â Not everyone has money, so what can theyÂ do? Â The answers were shocking. Â Be â€˜creative' was the first response. Â Pool your money, borrow from friends and family, own just 5% of a house, get the money however you can and just do it - remember, it only goes up. Â Other financing suggestions were get cozy with a lender and they will â€˜bend the rules' for you! Â The fact that the biggest condo developer in Canada (Brad Lamb) said lenders will bend (but not break, apparently) rules to get you financing in front of 15k people with most people smiling and nodding was shocking. Â
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Plenty of "high double-digit monthly yields", retire early with real estate, "everyone needs a place to live - buy apartments" type messages. Almost all of these pitches were second lien lending. Most offered yields in the 8 to 10% range. The presentations all suggested that you can borrow money, if you don't have it, at 4% and then buy these investments at 10% - easy money.
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The Paramount Equity pitch was also interesting and stated in all caps "HIGH DOUBLE-DIGIT RETURNS ON YOUR CASH, RRSP". This product pays monthly, is a second lien mortgage, with a one year term and LTV <85%. Paramount uses clever language that states they cover the cost of defaults. By that they mean they pay some of the fees, not the default risk itself.

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I attended the top of the Canadian Housing Market, so you didn't have