Helen Parnell

Yesterday I attended the Calgary Real Estate Forecast conference. While some of the news about the economy was not new information, there were a few interesting points you may be interested in.

• Canada and Alberta is still a major player on the world economy regarding energy.
• The BRIC nations (Brazil, Russia, India and China) are leading the world on the economy recovery.
• Canada’s economic fate is connected very closely to our neighbors to the south! Our safe banking systems and our conservative credit policies made sure that the recession and the meltdown did not affect us in the same way.
• The world financial markets will remain volatile for the rest of the year.

In Calgary we are on the road to recovery and by late 2010 there should be more job creation and that will lead to more net migration and house sales.

In Calgary the average single family home sold for $442,327 and that is forecast to increase by 6.3%

For those of you living in Towns outside of Calgary, the average single family home is $352,704 and that should rise by 3.2% over 2010.


If you want more information or more detailed regarding the town you live in or where you plan to move, just pm me.

Butch Cassidy

OMG, OMG, OMG.

We could never have found ANY of that out ourselves, I'm particular bolstered by the words in Italics.

Alan2005

That is amazingly naive. Those countries have very few domestic consumers compared to their production capacity. They need the west to buy the tat that they make - at least for now. The real way that the BRIC countries are 'leading the recovery' is by buying western debt enabling us to consume more of their crap.

So, Canada's fate is tied to the US and in the next half of the sentence it isn't? The US is probably going to double dip - if it doesn't it may well be leading the world (which includes Canada by the way) into a period of currency instability and high inflation.

http://www.economist.com/businessfin...ry_id=15211520
(which is pretty much what i've been saying w.r.t. mal-investment in assets rather than real growth for a while now so I can get to be smug when the economist agrees with me)

Yes - but a six year old knows this.

The predictions on real estate values may well be under estimates in the medium to long term.

maggieg

Thanks for the info Helen.


The people on the above posts know it all.

Personally I did not know how much houses were predicted to go up in Calgary. I am still in the UK.

I will pm you.

mandymoochops

wow I hope you didn't incurr too many expenses getting those gems of information that, if I were in the slightest bit interested, I could've read in most financial papers.

That said thank you for taking the time to post

Helen Parnell

I only posted the facts as I was told yesterday.

it was not meant as a massive discussion/ argument as to who is right or wrong, or which country is better or worst.

I did not even say it was new information.

it was just posted as information on the forecast for this year in Calgary which i thought people in the Uk who are thinking of moving over may like.

Thankyou Maggieg for your pm, i will get the information back to you.

Helen Parnell

The real estate conference did cost me some money to attend. But the forecast is only a small part of the whole conference. The most part is presentations by professionals on a large number of topics covering Calgary, alberta and real estate.

I have attended every year and the small cost is well worth it in order to make sure I know the latest information. if I know about what is happening then I can assist my clients better. The best information i got yesterday, is not in any news paper or website.

Rob_999

Stop Press: Body of Realtors forecast property prices to go up.
Quick - BUY BUY BUY!!!

Butch Cassidy

Maggie, the operative words here are Forecasted, should and predicted. The rest of what HP posted is readily available from other sources WITHOUT a vested interest in the property market, Calgary, Alberta or even Canada.

As far property prices averages across the city are worthless and even more so once you say Towns Outside Calgary. The 'Town' I'm moving to has 5 listings on MLS and two private sales (that I know of) the cheapest property is 65k the most expensive 226k (so as you see the average there is nowhere near the average quoted by HP).

iaink

Play nicely people

maggieg

I know what average means and thus I sent a pm to get more information on the town I plan to move to.

Alan2005

If people are going to post economic commentary then they should expect to get pulled up on it (I know I do). Especially when it's from a rah-rah-rah realtor seminar whose interests are pretty vested. To paraphrase: The BRIC countries are leading the world recovery therefore real estate in calgary will go up 6.3% ... it doesn't exactly make much sense.

(and why 6.3% rather than 6.2% or 6.4%, seems a very specific figure for something that I doubt can be predicted without a large margin of error).

iaink

You will have to PM to find out wont you

Should I just close this now, as everyone seems intent on bashing someone for posting something they thought was helpful?

Like any info posted here, there are no guarantees, users should exercise due diligence.

metgirl

Been on the forum lots of time over the last year or so.

My first post so do not respond to it unless it is something nice!

Why do other members just critise and pull apart other peoples posts. This forum use to be a good place to get some information about moving to canada.

I know it is only people's personal opinions and some advice can be a bit strange, but 80% is genuine.

Some of the posts seem to be a personal attack all the time!

Like the earlier post says, can you not play nice.

dbd33

Oh do come on. The original post is a puff for house sales, it offers opinion as information. There's no reason at all to think the fate of the BRICs relates to the price of bricks in Calgary. Granted, anyone who's been in North America for a while will see an estate agent predicting a rise in the price of houses and yawn but, for people unfamiliar with the Canadian real estate industry, there's a risk of taking the post seriously; it's proper for posters to mock it.