Resales in Canada are breaking records with home prices up almost 10% over the past year. In contrast, the national picture in the US isn't as rosy, with resales near a 5 year low and new home sales down 6.6%, with much of the blame pointed at the sub-prime mortgage market.
It's a troubling picture for consumers on both sides of the border, given the economic ties between our two countries. Buyers are hesitating. Investors are hovering like bottom feeders and vultures. Sellers are worried. Interesting times.
Source: "The Canada-U.S. housing divide" (CBC)
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