The resale apartment and resale townhouse market bottomed out about 3 to 4 weeks ago just like I stated a week or two ago. The search for yield and return has hit the resale apartment and resale townhouse market in Edmonton. The U.S. stock market the most overvalued since way back in 1873. Yields falling on GIC's precious metals rigged so no money flows there. Bitcoin a crapshoot but resale apartments and resale townhouses in Edmonton are grossly undervalued compared to their replacement cost.Posted by Tony on Thursday, April 18th, 2019 at 8:08pm
I've been a housing market bear for a long time but I would agree with Tony. Buying an investment condo now makes far more sense given pricing, mortgage rates and average rents.
Funny thing is all those who were jumping on condos for $300k in 2015 are turning up their noses at the same ones for $200k today... Truly a case study in irrational investing.
Did a particularly expensive condo sell this week? That seems like a big jump for condos.Posted by Taraz on Friday, April 19th, 2019 at 6:30am
Sure Tony everything will crash except real estate, just ask Americans. And yes, it's bottom, just because you said.Posted by Andrii on Tuesday, April 23rd, 2019 at 3:08am
I am looking to jump in the market soon ... should I do something this summer ? Or wait for the fall when the market cools off ?Posted by Rodney on Wednesday, April 24th, 2019 at 8:17pm
@Rodney. Wait awhile. Whatever happens now in economy we won't see the effects of it for 12- 18 months. Like the rate hikes last year and b-20 plus there are recession indicators such as inverted yield curves. All these will lag and need time to catch up.Posted by Homer Simpson sr. on Friday, April 26th, 2019 at 3:10am