iaink

"There is no question that the recent dramatic price gains in Calgary and Vancouver are unsustainable "

http://www.theglobeandmail.com/servl.../Business/home

These guys get paid big bucks for coming up with this stuff too!

Steve_P

WOW I'm impressed.

NOT!!!!

jerry brewer

Hi,
We are watching the papers adverts with interest, as we are looking to buy.
We heard from a few people that there is a thought that the market is ready to slow, in the papers are some 'reduced' properties, and some 'new price properties'.
The high Can $ to the Us $ will slow the market a bit, there is apparently a lack of US tourists this year, and the $ rate may apparently impact the Vancouver film industry on future projects.
The main worry we hear, is a worry about a potential fall after the anticipated olympic rise which is putting some off investing in second properties until later.
maybe it is a combination of these factors ?
Cheers
jerry

Adge

I've built a couple of houses in Calgary/Cochrane and I'll be building a few more in the next 12 months. All the indications here are that prices are now levelling out and in a few instances even going down slightly. Lots (land to build on) are becoming available at lower prices as a number of buil;ders have "overcommitted" buying too many lots and being unable to build on them quickly enough due to the shortage of trades, therefore they have started to offload these lots, so consequently the finished house prices should fall a little. Most builders however are now not releasing prices until the houses are almost comlete so that they can sell according to the build costs.
Anyone looking for posession next spring should not have a problem.

Cowtown

Crystal balls don't work in Alberta ... the altitude affects them.

See Ralphie's final speech where he admitted to being surprised by Alberta's booming economy and population growth.

That big property price crash in the UK never really happened ... why should it happen here?

As for lots in communities outside Calgary coming up for sale ... people move out of Calgary, people move back into Calgary ... it's a cycle.

Much as Calgary's boom is a pain for me, I'd rather bear with it than move out of town.

oceanMDX

Canada has low inflation and a very strong dollar that is hurting its manufacturing sector.... this will tend to keep interest rates low (much lower than US rates) which will support housing prices.