Over a five year period between 2001 and 2006, house prices in the United States rose at an unprecedented pace, as Americans bought homes on cheap credit faster than ever before. The property boom led many economists to fear that a property bubble was emerging and, by summer 2007, many were claiming to have been proven right when loan defaults rocketed in the subprime mortgage sector, sparking fears of a housing market crash. The collapswe was confirmed in 2008. But while the outlook for the US market may be bleak, to the north and to the south of the Americas' largest economy, the property sector appears surpringly resilient. House prices in Canada have been less affected by the downturn