Color me skeptical about rebounding housing prices.
- Albertans still have persistently high debt loads
- increasing interest rate environment
- lower for longer oil prices
- more stringent mortgage rules
- oversupply in the condo and rental markets
- dismal (but improving) jobs market
There was such a build-up during the boom that I just don't see a rebound anytime soon. Moreover, I'm not confident that we've seen the last of government intervention in the real estate market. It's possible the bottom is behind us but I really don't see much appreciation until there is real evidence that jobs and job security are coming back.
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