From the article:
Since November, lenders have begun 949 foreclosure proceedings at Calgary's courthouse--more than in the six months before that, according to court data collected by Foreclosures Canada Information Systems, an investment company. And increasingly, those proceedings aren't ending in the borrower's favour because their property value has eroded, says company founder Wade Fenner.
The Calgary Real Estate Board lists about 125 condos and single-family houses for court-ordered sale, according to estimates by Mike Fotiou of First Place Realty. In his blog, he noted the Multiple Listing Service had only eight last March, including some grow ops.
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