Weekly Update, Jan. 8/21

The Chinese are gobbling up everything that's being built. Everything sells out the first day the sales office opens for any new project. This will drive Canadian home prices skyward in 2021. My guess is prices Canada wide will rise 15 percent in 2021.

They were buying up a lot in Toronto and Vancouver, I'm not sure if that is still going on there or not, but we have not seen that trend in Edmonton.

Looks like a strong market in Edmonton! Prices are up, as are sales. I think as we recover from Covid, we'll see some strong price jumps later this year, and 2022 as interest rates will stay low.

The NDP are currently ahead in the polls in Alberta. Doesn't bode well for our future.

Edmonton prices are cheap compared to many other markets in Canada and it's a buyers market right now. The interest rates are at an all time low (you can get 5-year fixed at 1.49%). The only negative point is the economic outlook isn't good (jobs!!). Once that turns around (and I suspect it will start happening in about 2-3 years) prices will be going up. Companies are considering investment in Hydrogen and with the price of carbon tax (federal) increasing multiple fold it only makes it more viable. Alberta has among the cheapest sources of hydrogen!

They have to destroy the U.S. dollar to save the U.S. banks, save the real estate market and to bankrupt all the retirees due to shortfalls in the social security system. This will keep pushing up the price of lumber and home prices in America.

Re: They were buying up a lot in Toronto and Vancouver, I’m not sure if that is still going on there or not.

Everything sells out the first day the sales office opens for new projects. This is what will drive prices skyward in 2021 in Canada. The entire golden horseshoe follows whatever Richmond Hill, Markham, Unionville and Stouffville does.

Bring on inflation!