Weekly Market Update Aug. 20/21

Yes, very few families can afford houses in the GTA, hence why the market is doing so well here. Edmonton has a great future for housing prices. One of the best locations to own a rental. People are going to get rich if they buy now.

$25,000 price drop in a month. Not good.

Not looking good and with the stimulus money soon to run out in America home prices there can only fall in price at least short term even with huge negative real interest rates. This doesn't bode well for the Canadian housing market where only 2 percent of the population can afford a house in the greater Toronto area.

Alberta’s interprovincial migration is negative and we’ve been losing ppl to BC for 7 years. Hardly a sign of people moving here for affordable housing even if we have still managed an impressive growth rate. Do people stay here or is this just a good place to save up a down payment on more expensive real estate somewhere they actually want to live?

https://www.alberta.ca/population-statistics.aspx

Interprovincial migration is one thing, but international migration is a much bigger factor. And in that regard there are still many people moving to AB

Karl: Absolutely. Edmonton is projected to hit 2 million people relatively soon, mostly due to immigrants choosing to live in Alberta.