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by refurb
1093 days ago
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Canada never had a housing correction in 2008, despite a similar run up in prices like the US. If you think the recent US bubble is bad, imagine adding it on top of the 2008 bubble (minus the crash) and you have Canada. Before the most recent correction in Canada, the average sale price in Canada was double that of the US. Let that sink in. A country with lower wages, higher taxes, no 30 year fixed mortgages had an average sale price of double the US. |
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