Canada is Better Than U.S. At Mortgages

Alex Pollock has an interesting article in the WSJ between the mortgage market of the U.S. and Canada. Despite the implicit guarantee of mortgages (by U.S. taxpayers) with Fannie and Freddie, the ownership rates in the two countries are virtually identical. The major difference is Fannie Mae and Freddie Mac, which created a disaster in the U.S.