Words to Liv by.Posted by Laowai on Thursday, August 10th, 2017 at 8:54pm
Thanks for letting me know, I'm just about to board a plane (coming home from a conference), will check it out tonight.Posted by Sara MacLennan on Thursday, August 10th, 2017 at 9:23pm
like a cat with 7 lives :)Posted by bubu on Friday, August 11th, 2017 at 12:48am
If everyone keep borrowing money, money supply will be a problem.Posted by Sharon on Friday, August 11th, 2017 at 1:37am
I don't understand all this whining about inventory. I mean, population is at an all time high, and it's only normal to have an all time high inventory just to keep the same inventory/per capita ratio.
For example, year 2012 is a perfectly normal year, not too hot and not too bad. The single house inventory has grown 10% from 2012 to 2017. But our population grew more than 10% since then. We have fewer single house inventory per person than 5 year ago!
It looks like you updated the graphs but forgot to update the initial table, Sara.Posted by Anonymous on Friday, August 11th, 2017 at 6:21am
wsn, Interesting point.
I'd like to see an inventory to population ratio graph instead of just a graph of inventory.
I agree, Edmonton's population is rising quickly, so sales and listings should also be growing quickly.Posted by Tom on Friday, August 11th, 2017 at 6:53am
The graph for SFH price is not updated.... So the highest inventories in the last 10 years.. bring a new interest increase, OSFI new rules and the show is complete.... until 2019 when also the cuts in the budget and public services will affect Edmonton market more than Calgary and everything will come back to normal...Posted by bubu on Friday, August 11th, 2017 at 7:25am
Bubu, Canadian market is different.
Even if inventory goes up, prices will still go up as buyers here think it is a normal thing to pay what the seller is asking for - or even more.
Higher inventories, lower incomes, OSFI, Recessions... all don't matter much in Canada.
Prices will go up, and up on yearly basis.
You are correct. 2012-16, per census data, population is 10% up.
Sales should be rocketing soon IMO.
Not sure about people's income though, especially come conservative cuts in 2019.
I think high inventory is more related to this http://globalnews.ca/news/3455634/foreclosures-in-alberta-up-about-25-annually-for-past-2-years/
I don't know why I see "for rent: signs everywhere.. In 2012-2014 I didn't see them.... I'm sorry to see how you promote real estate as an investment when we just reached the same price levels as 8-9 years ago.. so no gain for almost 10 years???? wow.... pay taxes, interest rates or lost opportunities and now you try to sell after 8-9 years for the same price... try something else guys..... when the rent for a house will cover the mortgage in 1o years we can talk again about real estate investments...
Things have changed in Toronto.
Things have gotten so bad in Edmonton, Alberta they’re trying to sell off thirds of homes!!
Com'on Tony. Edmonton RE is all on its way up. Don't generalize.
Edmonton is where everyone wants to be.
Edmonton is where everyone wants to be?
Try saying that again in February.
LOLPosted by arfmoocat on Monday, August 14th, 2017 at 6:07am
You are correct, so sorry about that. We were at a conference in San Francisco and the internet connection was not great. I've updated them :)Posted by Sara MacLennan on Monday, August 14th, 2017 at 7:15am
I agree. And with Canada's tallest skyscraper outside of Toronto, we're quickly becoming like Manhattan. I've seen prices for Sky condos (the condos on top of the Stantec Tower), and a based on pricing (which start at $800,000 for the smallest one on the lowest floow), a two bedroom will rent for around $3,500 to $5,000+. We're actually getting close to being like an actual world class big city!Posted by Tom on Tuesday, August 15th, 2017 at 4:56am
Everyone wants to move to Edm....I mean really they do... Not kidding.
Such a beautiful place. Potholes are just part of architecture and design. City can spend less on arts then.
Anyways, a know's GF is a waitress and is buying a $500k home in Edmonton with $25k down from momy. See, how much risk people are taking to buy homes here in Edm. They love it here.
I love Edmonton, I was born here and am heavily invested personally, professionally, and financially in the city. But don't be ridiculous- we're not Manhattan. We have a nearly unlimited supply of land both downtown (redevelop some parking lots, hmm?) and surrounding the city. We don't have the diversified economy of other major Canadian cities. And as much as I don't mind the weather, I'm dead serious that 50% plus of people in the world wouldn't move here for love or money because of our winters.
What we do have is a beautiful city full of recreational and cultural activities, great job opportunities especially of the blue-collar variety, firsr class healthcare and public education, and a world class university. We also happen to be very safe and secure with generally a generally stable (recent elections aside) political and regulatory environment. Cap that all off with extremely cheap and affordable real estate, and people will want to come here for the quality of life, which I will say is second to none if you look at it in terms of lifestyle you can attain vs income. And truthfully, it's our cheap real estate that tips the scale. Take that away and we still have a great city, but the life balance we offers dissapears and people suddenly won't want to move here.
let's not fool ourselves with Manhatan comparisons.
Yeah, I more meant with the height of new condos and rental rates for these new condos. Maybe Toronto would have been a better comparison.Posted by Tom on Wednesday, August 16th, 2017 at 3:03am
Also, Sky Condos is charging $75,000 for a parking spot. And I've heard rumours that a new development that will be announced soon is charging $100,000 per spot. This is the new value of a parking spot downtown, which is actually beyond Toronto prices, and closing in on NYC prices. So, world class city prices are quickly coming! Not to mention that the Ice district is opening just the third JW Marriott in Canada, bringing Edmonton in line with Toronto and Vancouver in terms of luxury accommodations.Posted by Tom on Wednesday, August 16th, 2017 at 4:50am
Toronto real estate is toasting , can imagine what will happen with Edmonton village.Posted by Andrii on Wednesday, August 16th, 2017 at 9:49pm