Lots of things happening around us.
- Mortgage rates rising
- May be due to specter of overall global tightening.
- Luxury car sales booming in Edmonton, fueled by (cough, cough) those in "Land Development, Construction...." "Business is booming. They're in things like land development, construction...In some cases business has doubled, tripled. They had an $80,000 car and now they're buying maybe a $160,000, or $200,000 car."
- Inventory is still climbing, at least in comfree Edmonton. Up by more than 100 properties in less than 3 days.
- Environmental concerns about 'dirty oil' in Alberta (thanks to marvinmee for tip)
- So we have something interesting going on here- higher inventory, poor affordability, rising interest rates, serious environmental concerns about the core story of this bubble. Would it all translate into something of epic proportions like the last time? Or would the global central bank driven credit bubble get reinflated and address all those concerns. Stay tuned.
