Monday, March 5, 2007

There's still a lot of steam in this market

Despite CREB's error as reported by some very astute observers of Calgary market (thanks squidly and others),  both Calgary and Edmonton registered  impressive gains
It is too early to say whether the continued trouble with mortgage industry in the US will have any impact on the frenzy here. I guess not. 
I think most buyers, sellers, realtors and even the cows in Alberta firmly believe that if oil prices remain high, nothing wrong can happen with Alberta real estate. 
But oil prices were higher than what they are today at time of hurricane Katrina. But real estate was roughly 50% cheaper.
What do you think will bring an end to this bubble in Alberta:
  • An oil price collapse to $30-40 range?
  • Unwinding of Yen Carry trade?
  • The bursting of global credit bubble?
  • A recession in the US?
  • Nothing will go wrong with Alberta real estate for several years?
  • It will self deflate?

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