[pepper24]

Another view of the market......

There is little likelihood of a U.S. style surge in foreclosures or a collapse of house prices, says a report released today by the C.D. Howe Institute.

The report said recent swings in Canadian house prices have raised concerns that a U.S. style housing bust looms on the horizon and many of the concerns about the Canadian housing market are motivated by recent U.S. experiences.

"Canadian housing policies, which avoided the sharp decline in underwriting standards seen in the U.S., worked well in reducing the possibility of a housing bust in Canada during 2008-2009, and continue to mitigate the risk of a massive wave of defaults in the future," said the report.

Earlier in the day, the Canadian Centre for Policy Alternatives released its report says the six hottest real estate markets in Canada, including Calgary, could be in for a correction at best or, at worst, a bubble burst because price increases between 1980 and 2010 were outside of a "historic comfort level."

Read more: http://www.calgaryherald.com/busines...#ixzz0yEqtViES