Quote:
Originally Posted by stampsx2
I don't think oil is the only thing at play here. There's a lot of factors that can cause the real estate market to continue an upward trend even if oil takes a dive. If the real estate market was only affected by oil we would see equal fluctuations.
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Calgary is a petro based economy and the main predictor of our economy is the price of oil. Look at a 30 year trend of the price of oil vs housing prices in Calgary and you'll find the two are almost identical in terms of trends.