Weekly Real Estate Market Update, June 22/18

I would change your closing remarks to " If you don't lower the price enough and the interest rate goes up even more or a recession will hit soon due to the trade war you will have to lower even more to sell"... how about that Sara? The inventory is not a problem to not find a house... It is the prices.. .7-800k for skinny? hahahaha... many will regret f they buy at these prices....

Bubu, unless you're looking in the ghetto, you're not finding a $700k detached infill.

bubu ... How can you say things like that. We live in the land of New Democrats and Liberals where there are no bad things only good things ... things always turn out well, you just need the government to spend more money and raise more taxes. Oh, and by all means listen carefully to the Real Estate Barons and Gurus for they and the Governors armed with inflation shall lead us to the promised land. Buy Buy Buy, damn the prices, full steam ahead.

bubu turn away from the dark side and face directly into that blinding light emanating from our fearless leaders ... Justin and Rachel ... and you shall be rewarded., Throw enough salt and pepper and even Crow ain't so bad.

May the Farce be with you.

Tom . you should one time to travel to Europe to realise that 90 % of houses in Edmonton looks like ghetto .

We were pre approved the beginning of june. Would like to pull the trigger and get a detached house,
but cannot seem to do it with so much economic uncertainty,global and domestic.

While doing some research, I came across an article that used Calgary as an example iirc. It stated:

average wage 2000: $25.00/hr
average detached home price: $188k

average wage 2018: $30.00/hr
average detached home price: 500k

I make well over $30/hr, the wife makes $25/hr, we have 0 debt, and the current house prices are still scary. Unless you want to buy
a fixer upper in a sketchy neighbourhood for $250k+.

183 new listings (ONE day or less) on zolo.ca at the time of writing. The are just the homes EXCLUDING the townhouses and apartments!!!!!!!!!!!!

For the same square footage, SF home prices in Edmonton are same as Vancouver suburbs like Langley.

Difference is here you enjoy -40C and a perpetual winter.

Edmonton's climate may not be the greatest, but it's the price you pay to live in the greatest province on earth, where opportunities are endless, and anyone can succeed if they want it bad enough. That's why our population is growing.

Just wait for PCs to come to power and slash public workers and their salaries.

I heard 5% cut is on the block with potentially 10%.

The public sector is unionized. They can't unilaterally cut salaries, which the union won't agree to.

They could cut the number of public sector workers by 50% and nobody would notice.