Quote:
Originally Posted by AFireInside
Aren't all those things EXACTLY what happened in 2006 and 2007 in Calgary? By lowering the interest rate the government delayed the bursting of the bubble?
For the record I don't think we are going to see housing prices cut in half. We are due for a pretty significant correction in my opinion.
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I agree, that's what was happening in 2006 and 2007.
I wouldn't, and never have called it a bubble. I think people who throw "bubble" around a lot are just getting overly excited. It's no less fear mongering than the "buy now or be priced out forever" crowd.
I see it as just ups and downs of a market. Buyers (especially investors) were overly excited back then, the economy in AB was too good, and prices reflected that. People have come back down to earth now and so have sales figures and prices.
Will there still be significant reductions on pricing?
It's a billion dollar question. I don't think so, but that's just my biased opinion.
