not everyone that is looking to sell would be happy renting. Not everyone wants to be a landlord. Some people that lost their jobs and are over levered might have to sell to cover other debts. Renting just won't do that for them. As for people not wanting to sell for a loss, even if a lot of people sold for %20-%30 less than their asking prices, most would still be making money. A %10 drop would only take us back to last year's prices. %20 off would only take us back a couple years. Like someone already stated, people are still trying to get record prices which is complete lunacy.
The biggest factor in prices coming down will never be an increase in listings, in the end the entire deal hinges on employment. As long as people have jobs they can make the numbers work. When mass layoffs hit, then the trouble starts. So far there haven't been any mass layoffs in Calgary. The employment rate in Calgary is still strong so that will take care of any doom and gloomers that think prices are coming down anytime soon.
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