Reassuring words from Newsweek.com about the Canadian banking system and economy

With all the ongoing media hysteria about the economy, it's a relief to read some complimentary words about Canada. Fareed Zakaria writes for Newsweek.com. In his article 'Worthwhile Canadian Initiative' he explains how and why we have managed to keep our collective heads above water as the rest of the world economy circles the drain. It's worth noting that he emphasizes how our political/diplomatic/business leaders are pushing our global partners to be, well, a little more Canadian in their banking habits!

Thanks to Money Gal (http://twitter.com/MoneyGal) for this tip. Here's the article: http://www.newsweek.com/id/183670.

When we read about the reasons for the US housing market meltdown, contrasted with how we do things, it becomes obvious that, while our economy is being side-swiped by global events, we still have a great economy and housing market. We are well-positioned for a strong recovery (see Bank of Canada Governor Mark Carney's comments here: http://www.financialpost.com/news/story.html?id=1273258).

I've said it before (and I'll say it again!): the buying opportunity in the Toronto real estate market will be very short-lived. We have maybe another 6 months....