Weekly Market Update, March 3/17

House listings exploding higher...

Let'stand see how long low interest last. Fed interest rate normal range is 2%-5%, now is 0.75%. Demarcation Fed won'the keep it low to help Trump.

LOL ...Garth Turner, is he still kicking around spewing out bubble bursting predictions. Someone needs to conduct a citizen's arrest on Turner for leading people down the bubble bursting logics and paralyzing good folks from seeing the reality of the real estate markets across urban (central business district cores; not rural) cores of Canada.

Kid, how much appreciation do you predict for Edmonton in around ten years? I'm serious about my question because I'm considering buying in Edmonton or Calgary in the next few months and would like to see what different people think. I have a feeling it should be more or less 50%.
I also noticed that the difference in price between Calgary and Edmonton was about 10% around 35 years ago but this gap has kept widening ever since and at some time the gap reached the 40% mark then it shrinked to about 25 to 30%. What do you think?

Wally. Good questions. I am not apt to making long term predictions. My best piece of advice is if this is your "home" and you plan to live in it for the long term, you have no worries as long as you can stand any potential dips in land values. Also, if you purchase closer to central business districts of many of our urban cores across Canada, you "should" be relatively safe as compared to those purchasing and speculating land in rural locations.

With that said. I will repeat. I do not make long term predictions as its all BS. If someone gives you a ten year prediction with respect to land values, they are lying to your face like those who make prophecies of tea leaves. With that said....

In the long term, for a "home" you should be fine. For those extending themselves for a second property and beyond as an "investment", it all depends whether you can survive a few potential dips in the market. Hence each situation and context is different because each of us come from different contexts.

Let me leave you with this tho. It is an analysis on Edmonton's price history. As you can see, Sarah the administrator of this blog commented.... see here http://www.chrisdavies.ca/2012/02/edmonton-real-estate-price-history-updated/

It was analysis that was done a few years back... but you will get a sense of what it is I am saying up above.

(I still want to hear from those who said the bubble will burst months ago.... either because the socialists were in power, or that oil dipped, or what ever. DO NOT hide on me now, and then come out when a short term dip occurs and you come out screaming saying "I told you so" post facto.... I expect NO ONE to come forward at this time with educated statements about "bubble bursting")

I don't know about bursting, it may have come down some but it sure ain't going anywhere up.

Canada can't keep playing stupid to keep our rates low and let our Loonie tank into oblivion just to save our bubblicious housing market.

Raise mortgage rates two points (that's a double) and this country is f'd

Oh I forgot, oil is back under $50

Where are all those who falsely stated and mis calculated the real estate markets here in YEG and across Canada by shouting that the burst of the bubble was to come either because we had a "socialist" provincial government in power, and/or the glut of oil, or some other fantasy used to explain the root cause and predict pending doom.

Where are you? Especially those undereducated "business gurus" with their neo conservative/neo liberal economic educations. Where the $%#Q( are you now?

We are still here , still uneducated , renting and believe in Garth , shame on us .