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Posted by Liv Real Estate
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2 Responses to Weekly Market Update, Nov. 2/18
The exact same apartments and townhouses sold for double what they sell for today way back in the spring of 2007, 11 and a half years ago. The CRA tries to hide prices from the public but the people in Edmonton would be dumbfounded if they saw what these townhouses and apartments sold for way back in 2007. It still costs twice as much to rent than to own a resale apartment or resale townhouse. Unlike Vancouver and Toronto the B20 OSFI rules pushed none of the scarce demand to the lower priced part of the housing market.
Posted by Tony on Sunday, November 4th, 2018 at 9:32pmThis is very interesting; I figured for sure that it would be SFH that would see price declines and the condo market would be resilient (more specifically, I thought SFH 3rd and 2nd quartile prices would go down, and the people priced out of SFH 1st quartile would prop up the condos), but instead it's the opposite.
Posted by Anonymous on Monday, November 5th, 2018 at 6:27amFor people who might know, are new condos also hurting, or has the descent just wrecked the condo resale market?
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