What resources are there if I want to garner a better understanding of investing in real estate in these two markets? Alternatively, are there any promising fund that I can invest in instead of investig directly into properties?

You can invest in any time, just the profit-risk indicator changes….Generally, Canada is (for now) much better place for investments than USA. Our (very short) RE slowdown ended, but it will last in the USA for at least year more…