Quote:
Originally Posted by stampsx2
I don't disagree that oil plays a big role but there's much more to it. Looking at the 30 year trend there's similarities but it's not identical. Since 2007 real estate looks steady compared to the dips and peaks of oil.
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Huh? The price of oil and Calgary housing prices have continued to correlate over the past 8 years. Calgary had a major correction in 2008-2009 just as the global oil price fell thru the floor. And during the Calgary housing 2010-2014 boom oil prices have been strong.
I'm a bullish long-term on the Calgary economy but as a born and raised Calgarian I'm also very aware of the ups and downs of a petro based economy and the volatility of oil. We're heading for a down right now and a significant one at that.