Daily Market Update

by REP02 Feb 2015
Alberta real estate headed for U.S-style recession
According to a report from the Globe and Mail, Alberta's real estate woes could pose a danger to the country's economic picture as homeowners are rushing to sell and buyers disappear from the market. There is talk the market is overvalued by as much as 30 per cent but are we likely to see a U.S. style crash? 

Hamilton investments rated 2nd in Ontario
And the city of Hamilton is getting some good reviews as it was ranked 2nd for real estate investment opportunities in Ontario by the Real Estate Investment Network. According to a report in the Hamilton Spectator, Hamilton has seen several years of record breaking building permit values at $1 billion in 2013. Find out more on the Spec's website. 

Companies team up to buy potential oil field
Out on the Atlantic, Irving Oil and TransCanada are teaming up to buy real estate in Red Head, Saint John. According to the CBC, Irving Oil Ltd. and TransCanada Corp. have both been active in the real estate market in the Red Head area in recent weeks.  TransCanada and Irving Oil Ltd. have also formed a joint venture to build and operate a new $300-million deep water marine terminal. Find out more in the full story on CBC. 


  • by Steve Howes 2/2/2015 11:32:36 AM

    I find this type of fear mongering article irresponsible. In Calgary we are finding certain segments of the market have slowed, but others are still very active and even with multiple offers in still common in 300-500k segment. Please name sources "there is talk " ? There has been talk for months and years that the numerous regions of our country are 30% over valued. The Calgary market is not in a panic to sell. Maybe REP should source there comments from professionals in this market.

  • by Tim Crough 2/2/2015 12:05:33 PM

    Interesting perspective. What is a U.S. style recession? What is the difference between it and a Canadian style recession? My wife is a residential realtor in Calgary. Two of her listings in January received multiple offers. One sold at list price and the other at over list price. There is excellent traffic at open houses. While we may see a correction in residential price ranges that are in over supply, and we do have a lot of listings on the market for this time of year, I haven't seen it happen yet. The top end of the residential market is active showing confidence in the economy and the City. I am a commercial agent and developers are still buying land and businesses are expanding. Seems to me that each recession is unique and people are affected differently. Some are affected negatively, some don't know it's happening and some prosper. Go figure!

  • by Sharon Heading 2/2/2015 12:56:42 PM

    These type of articles are not at all helpful or well researched. Shame on you!


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