Ron Butler of Butler Mortgage joins Rudyard Griffiths to discuss Canada's escalating real estate crisis, as foreclosures reach levels not seen since 2009. He explains how power-of-sale properties are creating new lower-price comparables that drag down neighbourhood values, with the condominium market experiencing a "horror show" of plummeting prices. He explores whether this crisis will spread from condos to single-family homes and examines why the Bank of Canada's 200 basis point rate cuts have failed to stimulate the market.
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CREDITS:
Amal Attar-Guzman - Producer and Video Editor
Elia Gross - Sound Editor
Rudyard Griffiths - Host
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