Eek! In the Calgary Herald today. The average house price has risen by 39% since March 2005

So long as there isn't a crash in prices or some may find they own a house worth nothing!

I can't see the prices continuing to rise unless the workforce recieves a HUGE pay hike!

The so called experts don't foresee a crash.

Quoted from one article in today's Calgary Herald:

"However, analysts don't believe Calgary is in a real estate bubble, which, like its namesake, can burst at any time.

"Housing affordability has not deteriorated by much in Alberta, suggesting that the recent ascent of house prices can be more fundamentally supported," said TD Financial Group economist Craig Alexander.

For single family homes, the average price rose to $363,370, up 31.3 per cent from $276,808 a year earlier and up 6.2 per cent in February. The median -- the point at which there are an equal number of homes at higher and lower prices -- was $325,000, up more than 32 per cent over a year and up 6.2 per cent from February."


The rest of the article is at this link.

I'm not convinced I believe them. I'm sure glad I have a place and it's paid for.

Cheers
Steve

You and me both!

I spoke to a real estate agent a couple of weeks ago and lack of housing is one of the factors fuelling the price increases. She said there were approximately 600-800 houses on the market now. The price of our house has doubled in four years. The Globe and Mail article states that housing in Calgary is still undervalued compared with Vancouver and Toronto.

Well

we are currently looking at renting, and based on the fact that any decent rental property in Calgary seems to go within a day of advertising, I am not surprised by the house price rise.

And I thought the housing market was tough in the south east, Calgary is very tough!!!

Rgds Scotty 1972 :scared:

Nope! a report I read recently suggested that prices may keep on rising in the Alberta area...

Why... due to limits on water resources, and an expected drop in rain fall as the region returns to normal rainfall levels in the next few years ..

They’re planning on putting restrictions on the new builds in the province due to resource limitations and in some areas planning on stopping new builds all together

Whist the Oil business grows then its likely places like Calgary could exceed Vancouver or Toronto in house value

It's going to be even worse in Saskatchewan and Manitoba as Alberta gets first crack at most of their water supply.

The oil industry is going to have to find other ways of getting some of their production as they currently waste huge amounts of water and the province OK's it.

That's not waste water that's beautiful fresh river water, storage problems will be someone elses problem.

Manitoba has it's own supply of Water and a little help from its southern border.

See Red River

I did mean that they waste huge amounts of water.

Not that they have huge amounts of waste water. A lot of it is pumped into poor producing wells in order to boost production (water flood), and is either so contaminated as to be useless or is just plain not recoverable.

The tar sands projects also use tremendous amounts of water.

Now with the drilling for coal bed methane there are fears that the ground water is being contaminated. Some farmers and acreage owners are already complaining of their wells now producing water you can literally set on fire, after recent drilling for coal bed methane in their area.

Same in Red Deer - we bought in July and just sold on Monday for $67000.00 more than we paid for it Not bad for for almost 9 months and we're downsizing

you have got me wondering now. I bought for 297K 18mths ago. Neighbour has just sold for 365K and there place is 2/3rds size of mine!!!!!

Our realtor has said that if we had a house appraisal in Dec 2005 we can expect the value to have gone up by 20% since then, so if you want to downsize like we did (only by 1 bedroom but more with 2 dble garages not 1) and the prices still keep rising..................