But not only that: “skyrocket” is in the same sentence. Is the end nigh?
Home foreclosures are on the rise in B.C.’s Central Okanagan in recent months, but local real estate agents disagree about who might be losing their homes.
There are more than 170 court-ordered sale properties on the market in the Central Okanagan, more than 10 times more than three years ago.
Real estate agent Jason Neumann says according to his estimates, in the last 30 days alone 60 new foreclosures were put on the market, and he calls it a disturbing trend.
Neumann is worried the number of foreclosures will bring the overall market down, hurting anyone who wants to sell their home.
“What do you tell your sellers that are not in foreclosure that are now up against something they didn’t see coming? It’s one of those things where the bank is going to have to do what it’s got to do to get it sold.”
Looks like the media just noticed what’s happening in the Okanagan. Here’s the article.