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Old 02-28-2014, 12:48 PM   #26
darklord700
First Line Centre
 
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Quote:
Originally Posted by Johnny199r View Post
Why did housing prices suddenly go nuts from preboom levels (ie 250k for a sfh)? Was it low interest rates? Oil prices? What suddenly made people throw caution to the wind?
I bought my SFH in 2004 and interest rate was about 5% then. Then oil prices went up the roof to the current level and a lot of the oilsand projects were green lighted. I think low interest rate and big in-migration number caused the Calgary market to boom. But that doesn't explain why nationally in Canada housing prices went up the roof after 2005.
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