Why Didn’t Canada’s Housing Market Go Bust?

"Housing markets in the United States and Canada are similar in many respects,but each has fared quite differently since the onset of the financial crisis. A comparison of the two markets suggests that relaxed lending standards likely played a critical role in the U.S. housing bust."-

James MacGee Federal Reserve Bank of Cleveland

Full article here

Real Experts Comment: its hard for a Canadian without international perspective to understand the magnitude of what happened in the US and Europe. Our banking system is so far from collapse that we are more likely to see a resurgence in Nortel before our banks fail because of bad lending.