If mortgage insurer feels comfy then why all the talk about real estate bubbles and overpricing?

[gwasser]

Really, how come that we have such diametrically opposed views about the risks of Canada`s residential market and consumer debt. This came from Canada`s private sector owned Residential Mortgage insurer`s latest quarterly report:

TORONTO, Oct. 28 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) today reported results for the third quarter of 2010 with net income of $95 million or $0.84 per diluted share and net operating income of $92 million or $0.81 per diluted share. The Company`s reported net operating income represents a 7% sequential increase and a 23% year over year increase. "We delivered our fifth consecutive quarter of net income growth," said Brian Hurley, Chairman and Chief Executive Officer. "Our premiums written also improved as a result of sound housing fundamentals and continued execution of our customer strategy. With the potential of a slowing housing market, we are focused on maintaining prudent risk management, a strong financial position and capital flexibility."

 

[Samoyed]

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" Upton Sinclair

or maybe they understand it well but also understand that, if they were to state that the market is in a bubble, their stock would tank.