January 11, 2011

Few foreclosures, no bank failures: Canada offers lessons

Maybe Canada has something to teach the U.S. about housing finance. One in 4 U.S. homes is thought to be worth less that the mortgage being paid on it. One in every 492 U.S. homes received a foreclosure notice in November. For the fourth year running, analysts are speculating on where the bottom is for U.S. real estate. No such worries up here in Canada — yet its system of mortgage finance gets little attention in the U.S.

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