What does Calgary housing have left for price increases in 2014?
This is part of Garry Marr’s article where he looks at what prices may do in 2014.
Investors in Toronto continue to bet on price appreciation in the face of negative cash flow, leaving them vulnerable to a market shift.
“If prices start to fall, we could see investors getting antsy and start to sell their units which could aggravate the market,” said Mr. Guatieri who nevertheless says the risk is low because a spike in rates seems unlikely.
If there is a market that can support further price gains it is Calgary which has been a major benefactor of net-immigration growth. BMO noted Alberta attracted 53,000 more people in the last year than it lost.
“It’s not not just the rapid population growth but a young population and those are your first-time buyers,” said Mr. Guatieri, noting Calgary had a correction back in 2008-2009 when average prices fell 16%.
But the idea of a crash in 2014? He just doesn’t see it happening.
“I see [price growth ] still and that’s definitely true in Calgary. …
here is a link to the rest of it: Republish Reprint: Garry Marr | December 17, 2013 | Last Updated: Dec 27 5:14 PM ET