Advertisement

December 3, 2009

Why Didn't Canada's Housing Market Go Bust?

James MacGee, Federal Reserve Bank of Cleveland

Send to a Friend

James MacGee

Housing markets in the United States and Canada are similar in many respects, but each has fared quite differently since the onset of the financial crisis. A comparison of the two markets suggests that relaxed lending standards likely played a critical role in the U.S. housing bust.

Read Full Article ››

TAGGED: housing, United States, Canada, Cleveland, MacGeeHousing, University of Western Ontario, Federal Reserve Bank of Cleveland, Federal Reserve System, associate professor, research associate

RECOMMENDED ARTICLES

November 30, 2009
On the Housing Crisis, Wall Street Feels No Shame
Robert Reich, Salon
One out of four homeowners is now under water, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment. According to the latest ABC-Washington Post poll,... more ››
November 28, 2009
Weak Housing Market Weighs on the Economy
Editorial, New York Times
All roads into and out of the recession run through the housing market. During the summer, that road seemed to be heading toward recovery. These days, it seems to be headed back toward hard times. A reversal would have big... more ››
November 24, 2009
Home Sales Rebound to Early-2007 Level; Doubts Remain
Wash Post
Economists and policymakers got what they were looking for Monday: a clear uptick in the housing market. The catch is, few believe it's sustainable. The National Association of Realtors reported that sales of existing... more ››
November 24, 2009
Existing Home Sales Up for One More Month
Adam York, Wells Fargo