I agree that the 2004-2007 time was nuts and was prime for either a correction or a crash since the growth was unsustainable. But I just don't see it growing like that from 2007-present. For the most part, house prices have grown at a modest clip here in Calgary, and thus why I do not foresee house prices going down that much, if at all in the near future. Meanwhile, I've seen steady increase in wages through that time. My entry level job in 2004 when I graduated paid me $30K / year. Right now, that same job pays $40-$45K. That's a 30-50% increase.
|