Quote:
Originally Posted by accord1999
The reason why Calgary house prices peaked before oil prices peaked is because of the rise of interest rates from 2006-2008.
I can't give a definitive answer as to why Calgary peaked before the rest of Canada. My guess is that Calgary rose more and faster than Canada so it hit the peak first.
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Interesting.
I need to graph interest rates vs housing prices now...
Would be interested if anyone could provide another theory on why Calgary fell first, and by so much earlier then Canada. It might just be how fast our prices increased as you suggested.