Alberta housing: hot to cold with falling oil

Alberta’s real estate market has been in a boom for years. Prices surging along with oil’s value. But its decline is now having a real impact on sales. Supply is way up, unlike anything seen for years. And while there are buyers, their offers are well below the asking price. Here is a direct video link.

Many people have formed the opinion that lofty realty prices will need higher mortgage rates before they weaken.  But rising unemployment can trigger a housing correction even when rates are low.  Especially when household cash savings are miniscule with debt levels at record highs…

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