How bad is Canada's condo crash?

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. The Hub is Canada's fastest growing independent digital news outlet. Subscribe to The Hub's podcast feed to get our best content when you are on the go: https://tinyurl.com/3a7zpd7e (Apple) https://tinyurl.com/y8akmfn7 (Spotify) Want more Hub? Get a FREE 3-month trial membership on us: https://thehub.ca/free-trial/ Follow The Hub on X: https://x.com/thehubcanada?lang=en CREDITS: Amal Attar-Guzman - Producer and Video Editor Elia Gross - Sound Editor Rudyard Griffiths - Host To contact us, sign up for updates, and access transcripts email [email protected] Hosted on Acast. See acast.com/privacy for more information.