Comments on: Worth A Read – TD Report on “Demand-Driven” Alberta Overhang

By: Brian

Brian — Tue, 21 Jul 2009 05:44:03 +0000

I work for a major FI – maybe TD, who knows… The bank is so busy now-a-days that it doesn’t even issue pre-approvals here in Calgary anymore, via the central underwriting staff cause they can’t keep up with the demand on purchaes. 20% down still? You guys ARE on crack. And Don Drummond will be the first to say that 1/2 of their predictions are wrong. This one included.

By: BradBender

BradBender — Tue, 21 Apr 2009 19:58:42 +0000

“The sheep are following the herd. 5 out of 6 comments above say, “Don’t buy”. Baaahhh!”

Well, all the Realtors are saying “it’s a great time to buy”, and have been since I can remember. So I guess it’s a question of which herd you follow.

I’ve talked to lots of people who said it’s a great time to buy when the listings spiked in late 2008. Well, prices have fallen about 10% since then, and these people still say it’s a great time to buy.

The most important thing is to know when to switch sides. Looking at the charts, I would say now is NOT the best time to buy. We are way above the long-term trend.

True enough the bears are much more vocal than the bulls, but I think that’s mostly because the bulls have a vested interest (ie. they bought a house), and these people are not objective in their analysis (if they’re performing any analysis at all!). I see very little evidence for any upside in the Calgary housing market. Feel free to point me to any analysis that says otherwise.

By: spam

spam — Fri, 17 Apr 2009 03:08:08 +0000

The sheep are following the herd. 5 out of 6 comments above say, “Don’t buy”. Baaahhh!

By: Cory

Cory — Wed, 15 Apr 2009 01:39:19 +0000

Your gut is definitely right no matter what the suckers and sheep say.

By: Newt

Newt — Tue, 14 Apr 2009 14:43:39 +0000

“my gut instint is telling me to wait”

Follow your gut. Why would a person buy right now – way too many signs pointing to a downward trend, but even if this is the bottom, the market isn’t going to sky rocket anytime soon.

By: Steve

Steve — Tue, 14 Apr 2009 04:44:57 +0000

Good to hear about this! Everyone at work is telling me to buy buy buy and my gut instint is telling me to wait. I’d rather rent for now for 1000 / month. Cause really if prices go down 20% on a 350 000 house, that’s a decline of 70 000! What do you guys think???

By: Cory

Cory — Fri, 10 Apr 2009 17:44:48 +0000

“Another 20% drop should put the average price right inline with the average income”

At least. I suspect more though. The current situation in the world was so plain to see it is not even humorous. Those who think those days are coming back are on crack. The market will continue to float downward as I said it would when prices were rising.

By: Brad Bender

Brad Bender — Wed, 08 Apr 2009 06:36:27 +0000

It may be too early to say “I told you so”, but at least TD Econ agrees with me now

Another 20% drop should put the average price right inline with the average income. Funny that.