Foreclosures will increase…but barely make a dent.
Foreclosure rates in Canada are expected to increase, but remain very limited, especially when compared to the U.S. experience, where a broad structural failure of the credit system occurred. Canada's relatively insignificant subprime market, and in turn, the low number of Canadians contractually committed to very risky mortgages, will result in a foreclosure rate of insufficient volume to impact house prices or transaction activity.
Dominon Lending