Bucking the Trend
Tuesday, January 8th, 2013Splashed across the cover of this week’s Maclean’s magazine is the rather sensational and alarmist headline, “Inside the Great Real Estate Crash of 2013,” highlighting a piece on what may or may not be a Canada-wide bubble in the housing market. The gist is that sales are down across every major city in the country – everywhere, that is, except Calgary, where properties are moving at a healthy pace. This little tidbit isn’t mentioned in the article proper – doesn’t fit into the overarching narrative – but is noted as part of a chart indicating national trends, where our fine city receives the only green ‘up arrow’ in a sea of red downers.
While condo buyers in Vancouver and Toronto are rightfully concerned that a sudden glut of properties combined with a potential economic downturn could lead to rough waters ahead, there is little indication that Calgarians face the same risks.
