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Image Image Image Image ImageMarket update Sep 1 – 13, 2013
What were they predicting?
Jan 14, 2013 MacLean’s Magazine headline: “Inside the Great Real Estate Crash of 2013. The sudden cooling in Canada’s housing sector seemingly struck without warning.” WTH? Sales up 37%, price up 12%, is not exactly a sudden cooling. Overheated would be more accurate. MacLean’s Crash and Burn
Jan 2013 Ben Rabidoux, analyst, from the MacLean’s story: “The demand for oversized homes is expected to fall.” Calgary has already set a record in 2013 for the most million dollar homes sold in one year. Luxury home market breaks annual sales record
April 2013, Garth Turner of GreaterFool.ca blurted out this forecast: “The beginning of the end in Cowtown.” End of what, inventory? Garth has the audacity to say in this post “realtors lie.” If Garth can misconstrue realtors’ accurate predictions into lies, what does that make Garth? When bulls croak
Two years ago, Garth ejaculated: “That the Calgary market will crack is a given. It’s different here, until it isn’t. Which is soon.” So far, his crack has resulted in the median price being up $40,000. What did he mean by soon?
Dec 20, 2008, Garth said he “expects housing prices will plunge another 30 per cent next year — on top of the 11 per cent drop so far this year.” http://www.ctvnews.ca/garth-turner-says-hard-times-have-just-begun-for-canada-1.353465#ixzz2fpRqGVha
Market update Aug 1 – 14, 2013
18% of sales have been for list price or higher in August.
Canada’s house price index reached an all-time high in July according to Teranet, an independent reporting concern. Calgary real estate review – Teranet
Market update Jul 1 – 15, 2013
Bloodbath postponed for five years
“House-aggeddon” was supposed to have happened every year between 2008 – 2011. No luck.
After the mortgage rule changes, a devastating crash was predicted for 2012. No luck.
A crash of biblical proportions was forecast for 2013. That one’s gone by the wayside.
Now its been delayed for another five years according to this gem from GreaterFool.ca: . “If so many people are rushing to lock-in pre-approved mortgage rates while home prices are still high, how bad is it going to be in 2018 when the rates are closer to 10%??? Its going to be a bloodbath!”
Bob's real estate blog 