Great jump in sales?Posted by GM on Friday, October 22nd, 2021 at 12:36am
Wow, what a great jump in sales this week!Posted by Tom on Friday, October 22nd, 2021 at 7:22am
Toronto house prices up 14.7% over the past month. 14.4% over the quarter.
Vancouver house prices up 5.2% over the past month. 8.3% over the quarter.
Edmonton house prices down 0.6% over the past month. Down 4.7% over the quarter.
I'm expecting a huge population boom from Toronto and Vancouver soon due to Edmonton's affordable housing. Plus, with Scotia expecting eight interest rate increases in 2022/23, I think those cities will deflate HARD (30% affordability drop, and potentially 30% drop in prices). Edmonton should be a huge beneficiary of the money exiting those markets, since we aren't seeing any bubble like they are (yet). If interest rates soar as predicted and people can't qualify for mortgages, the economies of Toronto and Vancouver will likely crash, and people will have to move here.Posted by Tom on Saturday, October 23rd, 2021 at 11:00pm
People and those experts have been predicting a MAJOR REAL ESTATE CRASH for the last 10 years. Nothing new there.
I view that as opportunity costs, if you miss the boom.
I keep saying Real Estate is a local market, what happens elsewhere has no bearing on your local market. It's not easy for people to just pack and go.