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Letters: House values dropping
Here’s an interesting story, the local Sooke government has killed the value of homes in the Sooke area. Homes over $400,000 are being foreclosed on with losses of $70,000 or more. People are buying $400,000 homes when they is an ample supply of new homes for $300,000.
Home owners may not be aware of it yet, but if the bought a home for $400,000 plus they will never get their money back out of it because of the short sightedness.
This is not the first communities that this has happened, try Googling the topic and you will be shocked!.
Stop the insanity Mr. Mayor.
Mark E.S. Bernard