According to Don Lawby the President of Century21 Canada,he finds that in a survey of 167 neigbourhoods,only 21 had prices decreases while the majority incresed in price in Canada. This is in contrast to the American experience with their housing market crash their credit crunch as well as the volatility of their stock market.
He expains this difference of the Canadian housing market based on conservative lending practices and regulations with strong banks and Canadian pride of ownership and diligence in building equity in their homes.
These characteristics will sustain the Canadian housing market as Canada's economic growth rate is expected to slow this year.