Weekly Market Update Oct.8/21

Looking great! We have a lot of price gains to make up to follow the trajectory of Vancouver and Toronto recently. Hopefully we get there soon.

I just came back from Vancouver and talked to a realtor there, and within a year he made over million dollars, investing in 2 properties, it is crazy there. We in Edmonton who invested keep loosing money and in Vancouver equity is building super fast. I feel really poor here in Edmonton.

Renu: We'll catch up soon, I have on doubt. I was reading that some young people are moving out of Toronto and Vancouver. Edmonton is likely going to explode soon.

I'm talking about young people who need cheap houses; not retirees.

Tom, hope you are right, I know many people are moving from ON and BC to Alberta for cheaper houses and low cost of living and are happy in Alberta. It all depends how many people will come to Alberta, if more migration happens then yes we may see some increase in prices, as for many years, people are loosing equity in Alberta. At least if we recover that still will be a good thing.

Tom,

Those people are all moving to Vancouver Island or the Okanagan. Why would they move to Edmonton?

Renu: Plus, when there is a housing market correction, we likely won't be impacted, since we haven't climbed in price really in 15 years. So you'll be happy we live here if/when the economy and asset prices collapse elsewhere.