Calgary Housing Market July 2024: Have Prices Dropped? | Calgary Real Estate

[@ryanhawkinsyyc]

What are your thoughts? Do you think this is a minor slow down or signs that prices are going to fall further?

[@christopherbuckley7544]

Well now there's the rub now isn't it. Is this really just a 'slow down' or is that what everyone wants to think it is ? Are the BoC and Fed attempting to 'lower rates' because the 'data' indicates they should, or are they doing it to maintain the illusion that everything is 'ok', to bolster the profit making of the top 1% who are the ones making all the gains...It ain't the little guys winning.

[@rachelk8368]

my friend works at RBC in downtown Calgary and she and her partner sold their townhouse as she thinks there will be a large pullback in Calgary/ all of Canada. she sold in june and now insolvencies and up and credit card useage is also way up.

[@ryanhawkinsyyc]

Interesting! Did she say how much of pullback?

[@rachelk8368]

@@ryanhawkinsyyc no but she thinks at least 20% given larger economic trends- unemployment rising, banks cutting rates and 100% a bad recession. Given that we will have less immigration for a long time too and conservatives will tie immigration to housing availability I think she is right- the question is after selling and purchasing fees of another house will be be ahead? Or is it more just peace at night. I’m a buyer on the sidelines and can and will wait for a correction to make me money money in the mean time with stocks and bonds and GICs

[@aliwarraich5332]

No more jobs in all of alberta