Wednesday, May 9, 2007

Interesting Times....

Just a couple of interesting pictures that are probably the sign of these times. kind of contradictory, but we are living in interesting times.

Affordability is of course the biggest problem for Alberta real estate. But the good mortgage doctors admitting it themselves? And what's their magic potion- interest only loans (not sure if we are there yet), 40 year terms (very likely) or government subsidies for buyers? Who knows.

And yet, we have this:

Outside a newly built condo complex in West Edmonton (yes, close to the biggest mall in the Universe). How many for sales can you count? See the first comment for the answer!

And while all this is going on, here's a very nice example of disparity between the present (rent) and future(own) takes on the real estate market. Right in downtown, a newly built condo selling for around $340k and renting for a princely $1200.

And what is this blasphemous talk of rent reduction?
There are thousands of highly paid jobs getting created in Edmonton that can easily support rents of $2000 per month. Right?

And I can't really believe, this is the 49th post for this blog. Thanks all for your wonderful support. Would you like to see anything special for the 50th post?
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