Quote:
Originally Posted by Deegee
Such a weird market right now. With a new role in my company we're moving to Edmonton (wish our head office was in Calgary). I casually commented on a post on Facebook with someone looking to rent a place that they should buy our place and the next thing I knew we had 10 messages. Conditionally sold the place the same day.
On the flip side in Edmonton we looked at 10 places and when we went to put an offer on a place, 4 were gone and one had been pulled and relisted at $20,000 higher.
I do wonder about people who work from home right being called back to the office after moving further from the office. I've lived in smaller communities for the last decade and I can tell you the constant commute for anything is such a drag on life and really gets to you.
I don't think people need to be concerned about what happens if interest rates go up in 5 years. Financial institutions do not want to be property owners and will stretch out amortization if they have to.
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People aren't thinking about the possible return to the office this year or next. They also aren't thinking about interest rates ever rising, needing financial breathing room in case of illness or divorce, saving enough for retirement, or really anything else as long as they can make the monthly payments. It's only about right now. They'll figure out how to make competitive hockey for the kids and annual vacations to Mexico still work with a $650,000 house, no worries there.