The author missed the forest while researching a whole day on the tree bruches, imho.

imho, the biggest difference between US and Canadian bank system is the central banks. US central bank, Fed, is a cartel of top bankers, so it can manipulate the national money policy to make most profits for bankers only with the authority lent from the gov. For example, in the last 10 yrs, US middle class size and income are decreasing. To keep or make more profits, the Fed forced the lowest interest rate to keep banker's debt business hot, in the end, the whole nation is still suffering the dear damage. Canadian central bank is more a gov agency, keeping some distance from greedy bankers.

The fundamental cause of the central bank difference is the power system. US powers are too concentrated in just 2 parties, while Canada has quite a few more parties to make the power more balanced, thus the middle class interest is better protected and reflected. The best example is that US parliament can pass the 700B robbery bill with polled 70% public objection, cause both party members go for it and the public has no a third choice in the next election - which is unimaginable in Canada. So in the next 10 yrs, US house market has no hope while Canadian house market will be able to self-adjust and move upward.