Finally! Some optimistic news to balance out the doom and gloom that has dominated the news lately:
OK people, it’s time to shake your-selves out of that funk you’re in. What has happened to the housing industry in the United States will stay in the United States, for the most part.
Canada has seen its new and resale sectors soften, but because our lending regulations are so much more stringent than those to the south of us, we will easily avoid the financial pitfalls that have reined in the home ownership dreams of buyers and battered sellers forced to drastically cut prices and/or go into foreclosure.
Please note that Canada is not the USA, and Vancouver is not Canada. When you’ve finished shaking, you can read the rest of the article here.