DONT BELIEVE THE BAD NEWS
There has been a lot of talk in the media about foreclosures in Alberta so I did some digging because as in most cases in regards to Real Estate....the media is full of garbage.
According to the Canadian Bankers Association, as of Oct 2015 (as current as the list gets) the amount of mortgages in arrears in Alberta are 0.28%. The highest it has been since 1990 (the list doesn't go back further) is 0.84% in January of 2011. Will this rate rise through 2016, probably.
Is it going to have a significant impact on the Real Estate market, no.
http://www.cba.ca/…/f…/statistics/stat_mortgage_db050_en.pdf
thanks to Steve Phillips (CIR) for the info!
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