As moratoriums on mortgage payments come to an end, real estate experts see rising risk for homeowners losing their homes to foreclosures by lenders.
That’s because of the job losses under the pandemic and the slow recovery of the decimated tourism and hospitality market, which has traditionally been a top employer but has experienced a 65 per cent rout in economic activity.
Deborah Cumming, founding realtor at Century 21 Heave-Ho Properties, says properties in the lower-income brackets, including some National Housing Trust, NHT, properties, as well as luxury apartments, especially those in the short-term rental market, will see a fallout.
“We will see more properties going up for private treaty,” Cumming told the