Quote:
Originally Posted by lorenavedon
There's a few panicked birds out there and once people realize that the sky isn't falling and not everyone is panicking, they'll go back to buying and listings will drop again. The only thing that will be a negative impact will be net migration out of Calgary or a huge influx of new inventory online from new developments. Both are not happening so nothing to worry about. People move here, people need a place to stay, new inventory is slow to come online = hot market. Wouldn't surprise me to see another net price increase this year going into the second half of the year. As people have already stated, even with all these new listings, prices are not really coming down.
Really, the only people that think we're in trouble or that prices are going to crash are those that are looking to buy. Funny how that works isn't it?
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I don't know much about the real estate market but I do know about the energy market, and you are significantly underestimating the pain that's going to come. We have not seen the worst of it yet, by any means. It seems that you're significantly underestimating how bad 2015 is going to be in the energy patch. But again, not sure how closely correlated the real estate market is....but my assumption is highly correlated.