Does not mention that Toronto gets 40% of Canada's immigrants and that all the homes are snapped up in a hurry. Also, the borrowers have to generally be well-qualified because Canadian banks are much more conservative when it comes to giving out loans than their American counterparts.
I don't live in Canada anymore, but I'd suspect your second point is somewhat negated by the articles reference to private lenders supplying sub-prime loans.
I have no idea what types of systems are in place in Canada to manage this, and I thought the banking system would not allow private lending on that sort of scale, but I'm really not knowledgeable in this area.
