One Crucial Lesson from Canada’s Crazy Housing Market
GoRion, Sept. 20, 2017–Sam Bourgi
Analysts have rightly noted strong parallels between Canada’s current housing market and the one that precipitated the U.S. subprime mortgage crisis back in 2007. But there’s one saving grace that may help our northern neighbor avoid a similar fate. Canada’s mortgage standards have grown stricter as the market runs hotter, which is the opposite of what happened when U.S. housing prices approached their peak in 2007.
