You’ve saved up for a long time and when you thought you’d start feasting on your sweet home then recess takes America by a storm. Housing crisis is bleeding and Canada bears the unfortunate market condition. It’s like Canadians have no choice but to loose their home, land, among other recreational properties.

Sub prime mortgages are the main cause of this meltdown and as it turns out, some people already fear loosing their homes due to foreclosure.

Canadian banks have to pay with their noses by selling homes of individuals who cannot plainly repay their loans. Home owners, realtors and agents are badly beaten with the situation.

With the current world recess few Americans have wonderful homes. Whether you irk a living in New Brunswick or somewhere in Newfoundland, hard truth is that, real estate players are gripped with horror stories of loosing their homes.