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This video includes an explanation from a Vancouver realtor (Stephen Bailey) of the US housing crisis that, while simplistic, catches some of the main points. However, the realtor goes on to say that there will not be a housing crisis spilling over into Canada because mortgage lending standards here are much higher, and teaser rates and liar loans are not common here.

I find these assertions debatable at best.

I have to disagree with the conclusion about the impervious nature of the Canadian real estate market - it will be supply and demand that determines what happens with this market, and though the factors mentioned have played a big part in what is happening south of the border, that doesn't mean other factors like forty year amortizations, zero down, buyer exhaustion or simple unaffordability relative to incomes can't accomplish the same thing in Canada, albeit in a different way.

But then, this is a realtor, it's spring, and there is a certain intrinsic optimism no matter what.

On another note, in this bouyant market, how many condos have "investors" placed on the table as poker chips?