Amidst the surge in real estate activity driven by historically low interest rates during the pandemic, particularly in the pre-construction market across Canada, a concerning trend has emerged. Doug Hoyes, an insolvency trustee at Hoyes, Michalos & Associates Inc., highlights a "double whammy" effect contributing to difficulties faced by an increasing number of homebuyers in finalizing their purchases. As interest rates, which were lowered to 0.25% by the Bank of Canada in... [read more]