Real estate prices across most of the GTA have tumbled since the Bank of Canada began raising interest rates in early 2022. The real estate landscape in the Greater Toronto Area (GTA) has undergone a seismic shift since the onset of 2022. The catalyst? The Bank of Canada’s (BoC) decision to raise its benchmark interest …

The situation described here , where homeowners are defaulting on their mortgages and leading to an increase in power of sale cases, indicates potential challenges in Toronto’s housing market. Several trends may contribute to this concerning scenario: The presence of “power of sale” signs alongside traditional “for sale” signs indicates that lenders are taking steps …