A report released last year by investment company Morningstar warned that Canada could be headed for a U.S.-style housing crisis. But Canada’s housing market and lending standards are markedly different from our neighbours to the south, so even with recent concerns over oil prices and the looney, those concerns may never come to fruition.
Exactly how much of our income is used on housing? What is our household debt? And how does our mortgage fit into our larger financial picture? These are important questions to consider when comparing the two countries.
Full size PDF can be found here: us-vs-canada-housing-graph.pdf