Once upon a time when irrigated fruit trees filled the valley instead of 5000sq ft homes there was no way in hell a fire could threaten Kelowna
There are not enough fruit trees left in the Valley to provide fruit - no need to worry about watering them (I know that's what you meant anyway). Housing costs there are not going down (that was the original thought in this thread I believe)and if anything - like where I live, prices are staying much the same as they were and selling above (in numbers of houses) last year. From the report in our local paper - sales are up over last year oddly enough. I hear customers talking and they say that lots of people from Calgary are moving here. It's good. Should mean we will sell easy enough I hope. We thought at one point that we would find a good deal out there but I don't think there are many if any, to be found. The market has dropped very little here.
To the person who says that the fine print from the bank states they can call in your mtg. anytime, that would be true. However - how does that benefit them or anyone. They don't want to call it. They want you to pay it and they want you to take a long time to do it so they earn lots of money from you. Nothing like being a bank owning a bunch of empty houses to get rid of. If they start calling in mtgs. then people will just walk away.