Vancouver

The one thing to note is that while there’s a downturn affecting sole ownership properties, this particular situation is more about development properties. So the receivership angle is more complicated, as the property owners aren’t the same as the developers and contractors.

And in this situation, the person appeared to be mostly playing with other people’s money, and putting gains into things that can’t be sold off under bankruptcy (the property she lived in was owned by someone else and she was living there rent free).

There’s definitely more story here; it will be interesting to see if it’s the start of a market correction.