After the American “Great Recession” a lot of people became worried about another financial crisis. They also fretted over what they can afford when purchasing a home, while banks were not as willing to give loans and mortgages to as many people as they once did. In other words, consumer (and lender) confidence became more cautious because they didn’t want to end up drowning in debt, or worse lose their homes. However, north of the disaster, Canadians did not seem to be as affected by the recession. Instead, as we often do, we seemed to weather the storm, with less unemployment and a stable economy thanks to our natural resources. Although we tend to suffer when it comes to oil production compared to other oil-rich countries, other areas like lumber, fishing and minerals thrive. All of these things work together to help insulate us from recession. Economic Considerations In regards to Canadian housing, when looking at major cities like Toronto and Vancouver, there is a differen
