Sunday, March 02, 2008

The West - Canada's Life Jacket

Incredibly strong markets in Western Canada are keeping Canada's real estate markets buoyant even through America's housing slump.

"We expect construction, sales and price gains to moderate in 2008 due to decreasing affordability, especially for first-time buyers, and some softening in domestic economic conditions associated with the intensifying U.S. slowdown and persistently strong Canadian dollar,"
Adrienne Warren- Scotiabank senior economist/ author of Real Estate Trends Report

In what is the strongest and longest postwar housing boom cities like Edmonton and Calgary are keeping the market strong and in good condition. Although both cities saw affordability drop slightly the current balancing out of the market in 2008 will bode for good deals for buyers and price increase in 2009.

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