With all the news we receive each day and night regarding the current global economic crisis, most of the blame is aimed at the US, its housing market and its sub prime mortgages. Neil Reynolds of the Globe and Mail has written an interesting article on why there is more blame to go around and specifically in Europe.
His findings are sourced from the International Monetary Funds research and publications. From the IMFs world economic outlook it appears Canada is not so bad off with respect to the house price gap nor inflated property values.
Read his article here:
http://www.theglobeandmail.com/servlet/story/LAC.20081024.RREYNOLDS24/TPStory/Business
If you are interested in reading the World Economic Outlook Report, published in October 2008 or the Global Financial Stability Report, published this month; visit International Monetary Funds Website here: http://www.imf.org/external/index.htm
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