Weekly Market Update Aug. 6/21

Very healthy market! I suppose we can't go up together. If you believe the polls, the federal Conservative party is looking at a historic collapse in Alberta (largely due to the UCP being so unpopular), so we'll see how many seats the Liberals and NDP pick up. Apparently it could be a lot.

And my point of saying this is to highlight that this is our chance to show the rest of Canada that Alberta is no longer a regressive, small government/low tax supporting society, which may help us attract young people and newcomers to Canada. Vote responsibly!

Tom,

Have you noticed that great numbers of Americans are leaving New York and moving to Texas and Florida? Huge numbers.
Why do you think that might be?

Luckily, we have more sense than Americans.

Tom,

317 sales, drifting lower by the week, buyers have no confidence here, don't think healthy.

More anti Alberta propaganda. You might want to check your facts. The fact is Alberta has the youngest population in all of Canada. We have no problem attracting young people to this province. I thought this was a real estate blog. Maybe you should keep your political rubbish to yourself.

Tom,

Since new stress tests rules, Trudeau has really beaten down market, especially Edmonton. Pandemic, why do it now? Reason for low sales, no urgency buyers, no catalyst for gains in housing. I'm not sure why you are so bullish every week, when numbers are pointing in wrong direction.

Two weeks in a row prices have fallen. It is not a big deal. But our cheerleader has had nothing to cheer about. Sooner or later the prices will increase on a weekly basis and the cheerleader will be back with his bullish propaganda of Edmonton real estate going up to match that of Toronto.

Honestly, I'm leaving Edmonton soon to head to Toronto, and most millennials I know in Edmonton are either fleeing or getting read to flee Alberta based on how regressive Alberta has become. I know that the provincial NDP will likely win a huge majority based on the polls, 20 months from now, but the fact that anyone voted for Jason Kenney and the UCP in the first place is beyond disturbing. Yes, Kenney will lose badly next election and we'll get some adults back in charge (very likely with a Trudeau majority next month), but I've lost faith in people here.

Tom,

This is weird, your the one bullish on Edmonton market and now your leaving? Always positive about government jobs, now you are saying Edmonton is backwards, people leaving, why sudden change in a few hours.

Stephen: I agree that oil, once Trudeau gets a majority on September 20th, will mean the beginning of the end of oil production from the oil sands. And I hope you're right that Alberta can pivot to green energy, and a more progressive government. I won't be here, but I'm optimistic that Albertans will make the right choice in 2023, based on the polls.

Edmonton's biggest problem is that it's not closer to Jasper.
Other than that, there's not much to complain about.
No matter what anyone says or thinks, Edmonton will continue
to prosper because of its people. Even if oil goes the way of the Dodo.
At one point in history, tulips drove the economy. We'll find a way or make it.

Tom, The majority of Albertans are hard working, problem solving people. They don't stand around complaining or waiting for the government to help them. They believe in doing what it takes to get the job done. Here is another fact for you since you are challenged when it comes to posting facts, but love posting misinformation. Alberta was the first jurisdiction in Canada and one of the first in North America to start a recycling program for pop cans and beer bottles, etc, long before Ontario and British Columbia. Ever since you started posting on this website, you consistently post misinformation. Does the truth even matter to you. I had a teacher who used to say, "If all else fails try telling the truth".

Alberta does nothing to attract retirees. People stay in Ontario because of OHIP but all this will change very soon. Retirees on fixed income are now going broke fast with zero interest rates and high real inflation. The rich retirees have left Canada permanently. The poor retirees have moved to Moncton and Halifax where the tax rates are sky high. The question is will any of the rich ones ever retire in Alberta where taxes are much lower than in Ontario due to no surtaxes and no supersurtaxes as well as no provincial taxes? Alberta is very poorly promoted for people to retire to.