@imran jThere are always good deals to be had. It's finding them which is the tough part.
I still think Barrie, Hamilton and KW provide solid investment opportunities in Ontario for freehold homes. As does Toronto, If you can afford freehold homes in certain pockets of the city.
In terms of US investing, I'm not as sure. I've heard Atlanta, Georgia is making a comeback. Though you must choose wisely on where you invest in the city.
Hope that helps.