Is Canada having the same housing crisis as the US is?

Question

Just wondering about the foreclosure rate and the declining market trends.

Answer 1

No, we're not.  Our sub-prime lending rules are stricter than those in the US, and as a result, we weren't hit by the subprime crisis.  Our banks are taking a hit though, as many of them invest in US mortgages, and have suffered losses due to the housing crisis in the US.

Answer 2

We're doing quite well, thank you very much.  IMO, you guys are sharing the fate of voting in Bush for the SECOND time.  Everyone's allowed a mistake, but two in a row is unforgivable.