Real Estate Prices

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Real Estate Sales Representative with Century 21 Foothills Real Estate Lethbridge
I really wish that there was a bust of the balloon in S. Alberta.  I find so many people are being priced right out of the market.  What used to be a nice 3 bedroom home that would sell for 150-200,000 is now upwards of 260,000.  Maybe the prices will come down to a more affordable level, but I doubt it.  What we need now is a lot of lower prices town homes or 1/2 duplexes that the starting out families can afford. 
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Anonymous
Anonymous
be careful what you wish for. When a balloon is deflating, everyone is paralyzed with fear, and no one moves until it's out of air.
Nov 27, 2007 12:33 PM #1
Rainmaker
325,147
Esko Kiuru
Bethesda, MD

Chris,

Looks like what's happening up there took place here three years ago. And now we have a mess in our hands. If household incomes can't keep up with escalating home prices, the market will reverse itself sooner or later.

Nov 27, 2007 12:42 PM #2
Rainmaker
592,646
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate
If they're being priced out of the market, it's only a matter of time before the market reaches it's peak. It's not really a balloon burst unless the values suddenly take a drastic fall and people lose their investment money overnight. But declines are inevitable. That's the nature of the beast =)
Nov 27, 2007 12:59 PM #3
Rainmaker
340,097
Robert May
Verico Canada First Mortgage/ Rainbow Realty - Lethbridge, AB
Real Estate Expert & Mortgage Broker- Lethbridge

Way to go Chris, you made the baloon burst with all your wishing.  Now can you start blowing it back up again please?

Mar 09, 2009 02:25 AM #4
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Rainer
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Chris Robinson

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