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Originally Posted by MacDougalbry
Real Estate very rarely ever goes down. We'll see I guess.
Dude, you must be pretty young. There were major corrections in the Calgary real estate market at both the beginning of the '80s and the beginning of the '90s.
By the way, Calgary is now more expensive than Toronto. Median price in TO at mid-month is $303,000. In Calgary, the median price is currently $334,500. (An increase of $9000 from last month... the year-over-year median price increase is 52%!) Mid-month average price in TO is $358,600. There is no mid-month price available for Calgary, but at the end of last month it was $358,300.
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You noticed I didn't say NEVER?
You can think what you want, but Calgary real-estate will be going up for quite some time. The speed at which it rises may SLOW, but I can't see the value decreasing.