Canadian versus U.S. Housing Finance: Comparison and Implications
Alex J. Pollock
February 18, 2010
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Canadian and U.S. housing finance markets had notably contrasting experiences during the international financial crises of 2007-2009. In a recent World Economic Forum opinion survey, Canadian banks were ranked first in the world for soundness (the United States was tied for 104th). What are the important differences, and what are the similarities, between the two housing finance systems? What lessons do these suggest for thinking about housing bubbles? Are there implications for improving U.S. housing finance structure, instruments, practices, risk management, or regulation? These and other questions were addressed by our expert panel.

About the Author

 

Alex J.
Pollock
  • Alex Pollock joined AEI in 2004 after thirty-five years in banking. He was president and chief executive officer of the Federal Home Loan Bank of Chicago from 1991 to 2004. He is the author of numerous articles on financial systems and the organizer of the “Deflating Bubble” series of AEI conferences. In 2007, he developed a one-page mortgage form to help borrowers understand their mortgage obligations. At AEI, he focuses on financial policy issues, including housing finance, government-sponsored enterprises, retirement finance, corporate governance, accounting standards, and the banking system. He is a director of the CME Group, the Great Lakes Higher Education Corporation, the International Union for Housing Finance, and the chairman of the board of the Great Books Foundation.

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  • Phone: 2028627190
    Email: apollock@aei.org
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