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.Posted by Tom on Friday, September 3rd, 2021 at 1:08am
Hopefully we moderate a bit this winter. Prices being up so much year-over-year might price people out of the market.Posted by Tom on Friday, September 3rd, 2021 at 7:52am
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.Posted by Tom on Friday, September 3rd, 2021 at 11:34pm
"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?Posted by Karl hungus on Monday, September 6th, 2021 at 3:21am
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.Posted by Tony on Monday, September 6th, 2021 at 7:05am
"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.Posted by Tom on Tuesday, September 7th, 2021 at 12:52am
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.Posted by Tom on Tuesday, September 7th, 2021 at 5:49am
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.Posted by Tom on Tuesday, September 7th, 2021 at 5:50am
Then may I suggest you put all your money into houses. As you say, they never go down in price.Posted by GM on Wednesday, September 8th, 2021 at 7:31am