Market Optimism
Thursday, June 6th, 2013
It’s from a few months ago, but I thought it still worth drawing readers’ attention to: here’s an article from January’s Financial Post positing that so-called stubborn sellers are preventing a burst real estate bubble in Canada. It’s a good read.
Now this doesn’t really speak specifically to Calgary’s situation – we continue to set sales and price records, and I continue to work my butt off – but it does say something about the market’s health nationally. Sales are down in much of the country, yet prices aren’t really dropping. Without finding themselves suddenly underwater like so many unfortunate souls in the U.S., Canadians aren’t motivated to drop their selling price to move their properties quickly, and that means the market as a whole is remaining pretty stable. Barring a massive wave of unemployment or interest rates jumping up several points overnight, the spectre of a bursting real estate bubble in this country is, in my opinion, wildly overhyped.
Just one man’s opinion, of course, but it’s hard to see the future as dire when I so rarely get a day (or night) off.
