A technical recession is two quarters of negative growth, which is likely where we are in the middle of right now. I don't disagree that Calgary real estate will be hit by the recession and resulting slow down, but I do think that the drop in prices over the past year have factored some of that in.
I think that the jury is still out on whether Alberta will actually hit a technical recession. Not to say times are great here, but the two quarters of consecutive growth might not be hit, thats all.
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