Posted AT 12:27 PM EST on 26/07/07
The Canada-U.S. housing divide
The contrast between the Canadian and U.S. housing markets has never been starker.
U.S. existing home sales sank to a near five-year low Wednesday while prices continue to slide. In Canada, however, home sales continue to defy all expectations, breaking records for the last three months.
“Such a divergence between the Canadian and U.S. housing markets is unprecedented,” said Marc Pinsonneault, an economist at National Bank Financial, in a note to clients.
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