Weekly Market Update, September 15/17

Hi Sara- I think you forsot to change the numbers (new listing and sales, etc) from last week. :)

Thanks Trev.... My spreadsheet refused to save last week and this week's numbers! I've typed them out so many times I have the memorized ;) Anyway, the correct numbers are there now.

I hope the UCP doesn't somehow end up winning the next election, I just dropped off a large deposit for a Sky condo as an investment! At worst though, I could see a temporary 10% decline in housing prices if the UCP ends up defeating Notley. Not a big deal if you're a long term investor.

Condos are at highest inventory level ever.

For this time of year.

Interest rates up, prices go up - Canada,eh
Inventory up, sales down, prices....UP - Canada, eh

No wonder debt to income ratio is at record levels.
Young generation will get worst end of it. Low wages, high debt.

On the other hand, UCP will be worse to Edmonton than oil crash, and nobody can stop UCP from power in AB.

Sure it will be maximum 10 % blip Tom , nothing to worry about for long term investor ,then UCP will allow again 40 years mortgage with 0 down payment , income will increase and catch houses prices debt will decrease and happy soft landing will happen just like Mark Carney sad . Personally , I believe in soft landing , my daughter believe in unicorns .
PS , forgot , oil will go back to 100 $ and Edmonton turns to world class city .Don't worry about deposit !

Tom, nobody knows, unless you're an insider as Warren Buffet. Hopefully you're right.

Done deal!!!! Another 0.25% rate increase by the end of the year according to TD. 0.75% increase in 6 months is reducing the purchase power by 7.5%.... Let's see OSFI next...

The stress test for all mortgages should have been implemented years ago or at the latest by mid 2015 when the rate was decreased to stimulate the export economy. Now it's too late. That's not to say it should no longer be introduced but because prices are sticky on the way down and the debt level skyrocketed its effect will be minimal and prices are going to stagnate which is not good for the long term and smart investor and as for regular home buyers they are now stuck with astronomical house prices.

You might be right but the new rules will eliminate a lot of purchasing power... another 18-20%..... I still think the biggest issue is how much the AB Gov will be able to borrow and for how long... when they will not be able to borrow (sooner than many think at this point) the show will start....

I know this isn't a for sale site but this is my brother's townhouse for sale. Here's the listing back in 2007 when it was renovated.

$226,900 189 ROSELAND VI, Edmonton, Alberta

E3102808 MLS®: E3102808 ( Single Family )
Available for immediate possession! This bright and spacious 2 storey townhouse features 2 large bedrooms and 1.5 bathrooms. Extensive renovations boast new flooring and carpeting throughout, all new lighting fixtures, and fresh paint. This unit come
For More Information
ROY ALMOG
ROY ALMOG
Email REALTOR®
REALTOR® Website

2 PERCENT REALTY INC
2 PERCENT REALTY INC
EDMONTON, Alberta T6M 2H6
Telephone: 780-660-0000
Fax: 780-637-8940

Here's the listing today for anyone that thinks real estate only flat lined the past 10 years.

http://www.edmontonhomesweb.com/listing/e4082335-189-roseland-village-edmonton-ab-t5e-5r6/

Ain't this the truth :(

Well, to be fair, that is what happens when everybody can borrow hundreds of thousands of dollars...

Wow! Thanks for sharing. Looks like it gained half a bathroom but lost $70k in value.

But that's a condo. In the north. Very little in the north has gained value, let alone a condo (which generally always go down in value anyway).