Comments on: Mortgage crisis coming?

By: Homebuyer x

Homebuyer x — Wed, 12 Nov 2008 16:30:40 +0000

Take it this way:
In Calgary now the market is slow ! it is a good time to buy a new or preowned house there is a lot of pressure on the sellers !! I just made an offer 20 k below the reduced price on a New House and they accepted !!
Yes the price may drop next year so what… I am not planing to resell my house it will pick up in 2 3 years …
it always been this way…. we do not have and will not have a housing mealt down

By: Sadiq

Sadiq — Sat, 30 Aug 2008 02:10:46 +0000

New Flyer, Boeing, Hydro, MTS, Flood Gate, Jhonson Terminal. Thats all for now. Most of the projects will end by 2010 or would be near completion.
With both the city,province and feds not actually investing in any sort of sustainable industry we have to hit rock bottom.
We are apparently going to benefit from Ethanol industry and agriculture. Bull Shit. Any one and every one who has lived here knows that Agriculture is a gamble. You might have a good year or two. Followed by flooding and drought.
My inclination says we would never rectify our RE. Now we are over inflated in 2-3 years we will be overly deflated. Our mid range break even point would not last a quarter.

By: richard anable

richard anable — Wed, 30 Jul 2008 12:24:38 +0000

Great website!

I spent 5 years in the Toronto area while working for York University.

I am not optimistic for the short term down here in the States, even given the managed markets & government bailouts.

By: Andrew

Andrew — Sat, 26 Jul 2008 14:05:46 +0000

I live in Winnipeg and was considering a condo instead of living in an apartment. But I soon realized just how out of touch RE has become to renting or income. You can rent a 800 sqr ft 2 bedroom apartment in Osborne Village for ~700 – 900. I have a one bedroom which costs me 604/month. But a ~800 -900 sqr ft 2 bedroom condo is over 170,000 plus condo fee and in alot of cases over 200,000 plus condo fees. The Condo fees are usually between 300 to 400 per month. All these condos are within a five block area of my apartment.

Yet incomes have stayed pretty much the same in Winnipeg.

Nope winnipeg doesn’t have a real estate bubble. Everythings just fine here…….

Many people including people who should know better as Kevin in Winnipeg put it believe that housing prices will not fall but keep going up. I have to agree with Kevin housing prices will go down and I think significantly.
I am really concerned what will happen in Winnipeg after all the major projects are done. All those thousands of jobs will just disappear over night and then what. fewer jobs and an exodus of workers from the city to alberta’s oil sands and dropping housing prices.
We will probably just build a new football stadium at tax payers expense to try and keep things going a little while longer. Tough times are ahead for real estate in Winnipeg. I think.