Four years ago an American could purchase a newer 1700 sq.ft. 2 storey house in Edmonton for $130,000 USD, $200,000 CDN. Today, the same home is $475,000 with either currency. This obviously has an impact on real estate demand. For this to happen over such a short period of time has made it unattainable for the average American. Much the same way that booming prices pushed a whole whack of local buyers right out of the market. The strong dollar combined with a struggling U.S. economy and a volatile stock market has made a lot of people nervous to do anything. These are all natural fluctuations in any marketplace. I have the wait and see attitude.
Monday, January 28, 2008
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