Wednesday, February 13, 2008

Edmonton Journal Reports, Ignorance Is A Pitfall In Real Estate. Really?

The latest Canadian real estate news:

Edmonton Journal Reports, ignorance is a pitfall in real estate. Really?

When you line up around a block with 200 people to buy the condo in the sky that doesn't exist yet, put $20,000 down and plan to sell it as soon as it's built, look in the lineup and tell me how many people have the exact same mentality. Then all you need is for one guy to panic and drop his price to get out, and the average price in the whole building goes down, and you're completely at the whim of somebody else. You should only line up for U2 tickets. Article.

BMO reports slower housing growth, thus more afforability.

While new home prices should remain strong in 2008, the pace of growth will continue to moderate to about 2% to 3%. Article.


Anonymous said...

Well, In My Opinion this is the end of the cycle for the real estate in Albert. This looks like the last push when they crowd tries to get in. This market will face the music that US is facing. Its just a matter of time and you can throw all the execuses why its different here such as location, plenty of jobs, low interest rates etc. Eventually people will not pay this prices and the musical chairs game will come the scratching halt. Real Estate markets turn on a dime and please do not use historical realtors statistics as we know where they always point to.

Snap Up Real Estate said...

Good points. But Alberta is powered by the energy sector, and price will not plummet like in the US.

Mark Argentino said...

wow, and I thought the market was hot in west Toronto, you guys have a crazy market!

Good luck with it,

Anonymous said...

Energy Sector. So is Texas and in the 80s one the price of oil tanked the houses over there were selling for much lower then before the oil boom.