| Fundamental differences between the Canadian and U.S. real-estate markets mean Canada is not headed for an American-style meltdown, says a new report by CIBC World Markets. The report said there are a number of factors that raise concerns about Canada’s housing market, but we should see a softer landing than the U.S.
“To be sure, house prices in Canada will probably fall in the coming year or two, but any comparison to the American market of 2006 reflects deep misunderstanding of the credit landscapes of the pre-crash environment in the U.S. and today’s Canadian market,” said Benjamin Tal, deputy chief economist at CIBC...............................................Full Article: Source
|