Riverdale Rink Rat
Senior Member
Member Bio
- Joined
- Apr 29, 2008
- Messages
- 2,775
- Reaction score
- 273
- Location
- Back to East York... Alas!
http://www.cmhc-schl.gc.ca/en/corp/nero/jufa/jufa_018.cfm
While slightly self-serving, CMHC's compendium gives the major differences between the two countries. While the term 'overwhelming majority' sounds good, the reality is that Canadians are in arrears or default on tenths of percentages of mortgages (~0.3-0.5%, IIRC), while the US number is 10x that or more. That's a big difference.
More grist for the US housing bust mill from Barry Ritholtz:
http://www.ritholtz.com/blog/2012/05/underwater-homes/
http://www.ritholtz.com/blog/2012/05/the-housing-bottom-is-here/
The second post's title is layered with myriad levels of sarcasm...