Thanks for the info in 2018. Really gave me some useful insight into the YEG market.Posted by Greg on Wednesday, January 2nd, 2019 at 3:27am
I wonder what bottom looks like? I mean, most condos are probably down 20%+ vs 30 months ago. Is the future Phoenix, circa 2009 when things dropped 50-60% before bottoming? We aren’t faced with a backdrop of the GFC, so I don’t think so.
Anyone know of historical precedents where the bottom fell out of a petro-state within a state against a backdrop of mediocre growth in the wider country? Where did it end, and after how long? Some of the grey-beards: what happened in the early 80s? Would that be an apt comparison?
I think when trying to forecast the “bottom” of our real estate marker , historical data will only get you so far .
Poor economic conditions , stagnant average net incomes , higher rates of divorce / separations , and generations of Canadians utilizing real estate downsizing as a retirement vehicle all contribute to an outcome nobody can predict .
This is a worldwide phenomenon which is exceptionally bad in Canada , especially our Alberta market.
I personally feel this fall we will see bottom , after the UCP’s austerity measures hit the capital city . With hopefully a slow rebound to begin in late 2020.
Thanks for sharing such type of informative post. I really like it. It will be very helpful for me. Thanks for sharing such insights. Great work. Much appreciated.Posted by Marco Antonio on Wednesday, January 23rd, 2019 at 11:00pm