Among the highlights in the 2012 Observer:

• The recently introduced Canadian Covered Bond Legal Framework, which will support financial stability by facilitating diversified funding for lenders and strengthening the robustness of the Canadian covered bonds market;
• Annual housing starts and the average mortgage payment as a percentage of personal disposable income per worker are both close to their long-term averages, while debt-service ratios are below or near their long-term averages;
• Most mortgage holders have substantial equity in their homes, while the percentage of residential mortgages three months or more in arrears has been declining;
• Housing designed with flexibility in mind is better able to adapt to meet the needs of an aging population and accommodate the accessibility and other needs of persons with mobility, cognitive and agility disabilities.