The numbers still aren't as high as in the aftermath of the 2009 financial crisis, said real estate lawyer Jeff Kahane, who noted this downturn is different. But the biggest factor — by far — for most people facing foreclosures these days is unemployment or underemployment, said Tim Reid, who runs Phoenix Real Estate Investing. Reid said job loss, reduced work hours or lower pay is a factor in 90 per cent of the cases he sees lately. Tim Reid, founder of Phoenix Real Estate Investing, says most people facing foreclosure in Calgary have suffered some degree of job loss. Cheap condos to massive mansionsIn Calgary, several real estate agents list foreclosures separately from regular listings, and they range from $150,000 condos to multi-million-dollar mansions.

Source: CBC News May 15, 2017 10:52 UTC