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No doubt some numbers aren't nearly as strong as they were, but then again those numbers were totally unrealistic to sustain anyway.

Some things like price-rent ratios sure they don't look great right now, but the question is will it burst or will it be a soft landing as things adjust (i.e. rents continue to go up)?

And affordability is relative.. sure we might not be as affordable as some cities in Canada, but we're not off the charts by any means and wages in Calgary and Alberta are going up far faster than elsewhere in the country as well. Compare internationally and it's still not unreasonable. Inmigration has tailed off (rather outmigration has increased) but immigration is still strong.

The days of buying any piece of real estate and expecting a great return are gone I think. Not every city and town in Alberta is going to be the right place to invest anymore. But the there are still good places to be invested in in Alberta, there's still good properties to buy that can make money. It's just now it'll require a bit more research than simply plunking down the cash for a place and raking in the return.

Eventually though Alberta will be not a great investment, and the wise investors will move their $$ somewhere else, but I don't think we're at that point right now. If we were I'd be doing some changes to my properties.