In a time when the economy and the housing market in the U.S. lacks stability and confidence, our neighbors to the North continue to thrive. Canada’s dollar has continued to see its strongest performance in over a decade. From a record low of 62 cents on the U.S. dollar in January 2002, the currencies are now nearly equal in value.
Canadian citizens’ median net worth is nearly 50 percent higher than that of U.S. residents, though the average after-tax income is nearly equal. Perhaps even more astonishing is that while one in every 492 homes in the U.S. received a foreclosure notice in November 2011, less than one percent of all Canadian mortgages are in arrears. This alone should merit a review of what makes Canada different.
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