Saturday, December 01, 2007

Edmonton Market Letting Off Steam

Edmonton market is letting off some steam and i will too.

PRICES ARE PLUMMETING! - I would hardly call a 6.5% price correction over 5 months plummeting, especially since prices have risen 74% over the last 17. Price correction anyone?

THE ROYALTIES HAVE RUINED THE ECONOMY! - Many articles say the Royalties are balanced and not half as severe as proposed in the original review or even close to other oil rich countries. Hugo Chavez anyone?

THE MARKET IS FLOODED! - Sure there are more listings than say this summer when multiple offers where the norm and a frenzy made the market not a nice place for buyers. People are out there now trying to see what they can get or maybe they bought a new house, are moving or want to cash out. At any rate the market is getting more and more balanced. Buying opportunity anyone?

WE ARE BUST PRICES WILL DROP! - Sure you may have to reduce your asking price $10k to sell right now but prices fluctuate and there are a lot of people trying to sell now.

"...prices will still fluctuate, but decision makers are still laying bets that in the long-run, the oil wealth will keep home prices healthy." Jon Hall of the Edmonton Real Estate Board.

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