A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.
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Posted in: Buying a Home In Calgary , Market Trends , Mortgages , Property Virgins , Selling a Home In Calgary
Wow, my blog and Twitter posts on the forecasted effects of the new mortgage rules created the highest amount of feedback yet - albeit quite negative from other agents who felt I was forecasting "doom and gloom" that would drastically reduce sales for the next several months. One stated, "How dare I cause fear?" I countered, that I did no such thing. I merely posted the fact-based research and forecast that the City of Calgary had completed in regards to the impact of the new mortgage rules on a LOCAL housing basis. In fact, it is quite the opposite. Read on...
On a national basis, almost every economist is forecasting a ten to 15 percent price correction (price drop) - on average - over the next two years. That isn't particularly rosy, but based on the over-inflated prices in Vancouver and the super-hot condo market in Toronto, this makes total sense. Those two cities, alone, make up a significant number of the total sales in the country.
Locally, the City of Calgary report...
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