The subprime mortgage crisis in the U.S. isn’t like to happen in Canada. 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 VP with TD Waterhouse. “We are not seeing that in Canada now.” Lovett-Reid says Canadians don’t need to be worried about the subprime mortgage crisis in the United States spilling across the border. Overall, the real estate market in Canada looks healthy although a correction might be coming. A TD Economics report says the sales of existing homes in Canada could decline by four per cent next year compared to its projection for this year.
Source: CanoeMoney.ca - November 14, 2007
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