I love how Garth “I didn’t say crash” Turner can pretend that he never called for a crash, and he does it with a straight face. His infamous crash has morphed into a “correction and slow melt.” He’s even convinced his followers that he never said CRASH. Today on his blog, a reader made this comment: “Garth has never said there would be a precipitous drop in prices.”
Garth made this prediction in 2008 “Real estate prices in Calgary, Edmonton, Fort Mac at 50% of 2006 levels.” That would put our average price at $200,000. Today it’s over $500,000. If that’s not a crash, pray tell what is. At the height of his scaremongering, he even had a “House-Aggedon” speaking tour. Then a few years later, he says “Actually I have not said it will crash, but correct and flatline. Please work on your reading.”
Another more recent prediction from Garth(Aug 2012): “That the Calgary market will crack is a given…it’s different here, until it isn’t. Which is soon.”
In this context, Garth probably meant 3-6 months when he said soon. The median price is up $30,000, or 7.1% since he said that. I doubt that we’ll see any references to that prediction by Garth on his blog.
How does he get away with it? Is this a commentary on the intelligence level of his readers(Smoking Man excepted)? To quote Garth, “Don’t they hate being treated like morons?”
Bob's real estate blog 