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Originally Posted by Realtor 1
There was not a whole lot of "fact" in that article.
"Some similarities" , I can find some similarities between the flames and the best teams in the league.
"Balloon and not a bubble", this has been said for quite some time now and is how most markets work.
I keep thinking YVR is due for a heavy correction but then you hear about condo buildings selling out at the blink of an eye.
I believe due to slower growth since the recession, Alberta is safer than most provinces and I think Canada is far from resembling the US housing crisis.
I have hands on experience with numerous people who make great income and still need to go through hurdles to get financing, ie self employed individuals.
While I had no hands on experience with the ease of financing in the US, I hear it was almost impossible to have a bank even question you.
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I have been following these areas with interest the past few years and agree with every point you just made. Only thing I would add is that high oil prices have potential to crater the world economy, take oil prices back down and cause a temporary lull in Calgary real estate. I say temporary because I think we are at peak oil and this will make it harder and harder for oil to stay down for any significant duration. Gas will eventually rise once kitimat opens up our land locked supply to world markets.