The Wall Street Journal online has a recent report about the housing bubble that may be about to burst in Canada. It seems that Asian buyers look at Canada as a safe haven, and are buying homes there in record numbers. Canadians themselves are heating up the market by buying homes at inflated prices, and well… we all know where that leads.
I wish them the best. It seems they should have learned a valuable lesson from us and our Great Recession, caused by our housing crisis. Here’s hoping that if their housing market does collapse that it doesn’t lead to a complete economic meltdown the way it did in the United States. Our neighbors to the south of us are quite enough t worry about, thank you.