IanO
Superstar
Rates need to continued to rise, but that is positive news.
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- Thread starter Daveography
- Start date
David A
Senior Member
IanO
Superstar
Certainly improving, but A LONG way to go.
Downtown, prices need to rise $50-100sqft min and likely far more for some buildings.
There is a little ray of hope out there, but will it persist and drive interest, demand and a market for central product? That is still VERY much to be seen.
Downtown, prices need to rise $50-100sqft min and likely far more for some buildings.
There is a little ray of hope out there, but will it persist and drive interest, demand and a market for central product? That is still VERY much to be seen.
David A
Senior Member
Edmonton's luxury homes market set for a surge
With interest rates expected to fall later this year, more homes priced over $1 million are expected to sell.
edmontonjournal.com
Selling a $5 million house in the GTA or Vancouver and buying a similar one here for a lot less sure would do wonders for the purchasers overall financial position. I do think some smart people will cash out of those markets.
ChazYEG
Senior Member
The passive income you could get, alone, would probably allow one to retire if they wanted. A dividend portfolio with a very conservative 4% yield a year, on $3.5M, would get you about $10k/month after taxes.Edmonton's luxury homes market set for a surge
With interest rates expected to fall later this year, more homes priced over $1 million are expected to sell.
Selling a $5 million house in the GTA or Vancouver and buying a similar one here for a lot less sure would do wonders for the purchasers overall financial position. I do think some smart people will cash out of those markets.
TAS
Senior Member
An owner in my condo building in the core relisted his one bedroom unit last week on a Wednesday and got an offer on Saturday.
It was listed at $10,000 less than previously though. But it had been listed for months in 2023.
Probably a combo of the right price and a market getting stronger.
It was listed at $10,000 less than previously though. But it had been listed for months in 2023.
Probably a combo of the right price and a market getting stronger.
IanO
Superstar
The market is definitely returning, but prices are still abysmal.
occidentalcapital
Senior Member
Multiple offers now are happening on condos. last opportunity to get a cheap condo is right now?
Stevey_G
Active Member
Out of nowhere mine just started seeing a bunch of foot traffic. I’d hold but I’m so done with tenants lol.
ChazYEG
Senior Member
If you're looking for a trouble free tenant for a little while, hit me on a DM (if it's Oliver/DT/Garneau/Old Strathcona)
Kosy123
Active Member
https://www.cbc.ca/news/canada/edmo...al-market-interprovincial-migration-1.7105399
I guess the storm has finally arrived.
Interesting tidbit too! YYC to YEG migration is becoming a factor now.
I guess the storm has finally arrived.
Interesting tidbit too! YYC to YEG migration is becoming a factor now.
northlands
Senior Member
Reading this shit while still being about 1.5 years away from my timeline goal of buying a house makes me want to throw up. God housing is so fucked in this country.
IanO
Superstar
Just chatting with a major developer in Calgary - typically the market has 5 months of inventory... they are under a month right now. He sold 79 condos in January in -30C, a record month by more than 30% and has raised his prices by 15% because of that in a month. That's 2.5 units a day in a single project... unreal.
Curious to see the January stats for Edmonton.
Curious to see the January stats for Edmonton.
erudyk_29
Active Member
As an (almost) 20 something, I've already accepted I'll never be able to afford to own my own home. However, it has occurred to me that the model of homeownership being the gold standard and the ultimate symbol of success in life was never a sustainable model, much like North American suburbs themselves.
I wouldn't say Canada is the only, or even the worst culprit. It's quite bad here, but it's very bad in most western, developed countries right now, across the board.
I wouldn't say Canada is the only, or even the worst culprit. It's quite bad here, but it's very bad in most western, developed countries right now, across the board.
MacLac
Senior Member
But this is mind blowing!!!! We knew this day would come when we have zero housing for peeps. I’m talking YEH only, so now, hopefully there will be a big rush to build. How short sighted are the muckety-mucks to not have planned for this?