Weekly Market Update, Nov. 24/17

I agree Sara, our population is exploding and that's really helping housing prices. And in the next few years all these new people will be looking at builying houses. I live in the SW and I can barely drive anywhere anymore, it's just gridlock constantly.

I guess that's what happens when everyone moves here for jobs due to an anticipated 6.7% GDP growth this year. http://www.cbc.ca/news/canada/calgary/alberta-economy-conference-board-canada-1.4414153

Tom , you like CBC hot news ? That is one for you http://www.cbc.ca/news/business/oecd-debt-1.4415860 , we are nomber now . Go Canada ,go !

Sarah, you can pick reports to look positive or negative to real estate... credibility is coming from being impartial. The real estate WAS stable because the interest rate was reduced and the government is borrowing money faster than Greece.... Next 2 -3 years will be interesting when the interest rate will go up ( it is already), the new mortgage rules will reduce the level of borrowing and NDP will not be in power anymore... You can leave on credit cards for a while but not forever doesn't matter if you are government or house hold.... I don't add links here to reports as everybody can google... Also I'm not positive at all about the new mortgage rules....As I see, there are a lot of unprofessional people in the banking and real estate industry who try to rush people into buying now before December 15th to get qualified on the old mortgage qualification rules without to explain to their customers the impact of the rules and the interest rate going up....

Unless Trump destroys the U.S dollar interest rates will fall in America and in Canada.

It must be picking up my brother got an offer on 189 Roseland Village of 120 thousand. He immediately took the offer. 189 Roseland Village was also listed for $226,900 back in 2007 but the buyer couldn't get a mortgage even making $140,000 a year as an oil rigger. Deal is supposed to close this November 30th.

The new B20 OSFI rules won't affect Edmonton as houses go for pocket change. Any closing dates January the 1st 2018 or later will be affected by the rules unless it's an all cash offer.

Realy ? Didn't BoC raise interest rate twice this year or I missed something ?

LOL. There will be a rate decrease before another increase thanks to NAFTA likely falling through.

Bubu, you're such a troll. I agree with Sara, housing is doing well. If you don't like what she has to say, why do you even read the blog.

So if I don't agree with you or a realtor I should not have an opinion? Even in comunism you get a chance :) How is the bank economist job? Or you quit to be a realtor also?

Tony,
The US economy is the strongest it has been in a very long time. Goldman Sachs just increased their prediction for GDP growth there to reach 4% next year.
Meanwhile in Canada... Trudeau is taking selfies and raising taxes.

Yikes.
The condo price chart looks ugly.

Tom , they definitely drop interest rate just because you wish so and mentioning Greater Fool you remind me purchese of downtown condo .

As for me condo chart looks beautiful , still a lot of room and potential in that direction . Hope huge apartment complex on Rabbit hill comes at time .

Phd REMAX economy school .

Poloz was just trying to undo the damage he caused with the two interest rate cuts in 2015. He was coerced into it at the G20 meeting in London, England. Poloz dreams of cutting interest rates and you'll see next year when he chops the interest rates.

The U.S economy and the world economy have been in a downward spiral since the Lehman debacle. You'll learn in time, America runs on 100 percent lies. Negative interest rates to follow in both America and in Canada.

Ahhh... the condo. The only real estate where your monthly fee can be greater then your monthly mortgage.

Sara... Just wanna say a BIG THANK YOU for taking the time to give us your weekly market update. I thoroughly enjoy your insight and weekly reports.

Why don't you post on Greater Fool instead?

@Andrii

Yes, BoC did raise interest rate twice this year, but how is that a prediction for future rate change?

Do you remember that they lowered the rate twice right before they raised it twice? That's proof enough that the next interest rate change may not be the same as the prior two.

Interest rates will go up next year.