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I have read many articles suggesting buyers will be able to pick up distressed properties at discounted prices — how with mortgage rates rising, homeowners will be losing properties at elevated rates. Is there any truth in these shocking attention-grabbing headlines?
No one will argue that values have slipped over the past year and that the costs of carrying homes have increased; however, the group of people predicting large numbers of distressed homes hitting the market may be disappointed.
Harry Miller is a writer and editor based in Toronto who has Ten years of experience in the journalism industry. Before coming to Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and a breaking news reporter with the Toronto Star. Miller currently holds two bachelor’s degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.
