In my opinion, I think there's still a bit of air to be let out. And right now, I suspect that there are so many people underwater (or near) on their mortgages that entertaining a move isn't practical.
Oil and Gas will pickup significantly this summer, and barring any major international crisis, it should be a "Confidence inspiring industry" by the Spring/Summer of 2012. This will loosen people's purse strings and have people moving back/committing to the province......that's when I see property values increasing again.
|