Weekly Market Update Sept.3/21

Nobody is "priced out of the market" in Edmonton.

Toronto and Vancouver, yes. Not Edmonton.

Disagree. I know people who are unsure about buying after this large runup in prices. Though, with the Conservatives in power federally next month, we should see some huge economic benefits very soon, so I've been telling them to buy anything they can right now, before the economy boom happens.

Hopefully we moderate a bit this winter. Prices being up so much year-over-year might price people out of the market.

I'm talking over the last year. I don't care about three years ago. We're in a new paradigm with oil and gas so high.

"huge run up in prices"

What defines that for you? According to the chart prices are essentially flat for the last 3 years.

How much did prices go up in the past year?

It seems like condo prices have fallen forever. A very brief blip upwards then the prices crashed back down. We'll see if Trudeau gets elected so he can push the price of homes even higher with his tax free home fund for people under the age of 40. Of course the tax free fund is just a way to con the parents into giving or lending the money to their kids and the parents get the real tax write-offs not the kids.

"Always buy houses is what I tell people. They only ever go up in price."

Famous last words.

People have been calling for a housing collapse for the last 15 years. And here we are, hitting an all time high this year.

Tony: Yes, condos in Edmonton will always continue to decline in average price. There's no shortage of land to build on here, so there's no supply constraint that would increase prices. Always buy houses is what I tell people. They're only ever go up in price, as we're seeing with all time high prices for detached homes in Edmonton.

Karl: Take a look at the graphs on this blog to show you our climb to our current all time high for home price in Edmonton.

Then may I suggest you put all your money into houses. As you say, they never go down in price.