Canadian investors and homeowners worried about a meltdown in the real estate market here in Canada can relax.
The subprime mortgage crisis in the U.S. isn't like to happen up here in the cooler, more fiscally conservative north. The Canadian housing market is not a bubble waiting to burst and owning a home is still a good investment and wealth management strategy, financial experts believe.
"You have a bubble situation when there is a lot of speculation and leverage in the market," says Patricia Lovett-Reid, senior vice-president with TD Waterhouse. "We are not seeing that in Canada now."
