News
August 2008, Condo Living
Much has been written about the calgary real estate market and with so many stats and numbers flying around it can be difficult to make sense of the market. while it’s clear the real estate market in 2008 bears little resemblance to the flurry of activity in 2006 and 2007, the current climate is not all bad news, especially for first-time homebuyers.
Even those who currently own a home are not necessarily impacted by the moderation in prices—with any drop in property values it will more likely mean a psychological issue than a financial loss. even though a current property may be worth a little less than it was last year at the market peak, overall equity is fairly stable. if homeowners were to sell and buy a new property, the new house price would likely have dropped by roughly the same amount. So, the net impact is relatively minimal.
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