"Calgary region housing starts expectations negative"

[oz388]

Just saw this news:

http://www.calgaryherald.com/business/Calgary+region+housing+starts+expectations+negative/9958462/story.html

Would builders drop their ridiculous prices??! I went to showhomes in communities where on the edges of Calgary city boundary, that far and that empty, however the starting price for a 2300 to 2400 sft house is between $600k to $700k!!

[avishal26]

That article is 2 lines and means nothing....

Expectations mean nothing as well ... if anything, if less houses are starting build it just means there's going to be less supply for the growing demand in Calgary.

As long as Oil & Gas industry is booming, house prices are probably not going to trend downwards noticeably.

[88CRX]

Hahahahhahahah.....

Yea, ok then. I would guess that permit applications are down only because the current city planning department is making it more and more difficult for developers to develop new land/communities.

[JamMan23]

Originally posted by oz388
Just saw this news:

http://www.calgaryherald.com/business/Calgary+region+housing+starts+expectations+negative/9958462/story.html

Would builders drop their ridiculous prices??! I went to showhomes in communities where on the edges of Calgary city boundary, that far and that empty, however the starting price for a 2300 to 2400 sft house is between $600k to $700k!!

It's supply and demand. People are buying those houses. The land is expensive, and will only become more expensive as time goes on.

[Masked Bandit]

Noticeable price decreases in Calgary are a pipe dream son.

[lasimmon]

What the heck is the title of this thread supposed to mean? Or am I bad at reading?

[ercchry]

Originally posted by lasimmon
What the heck is the title of this thread supposed to mean? Or am I bad at reading?

"2014 is seeing less new housing projects than 2013"

...but its expected since nenshi says no more sprawl! :whipped:

[BigMass]

didn't bother looking into it but how to they factor in 1 housing start vs 1 condo tower that has 300 units in it? I see Calgary trending towards more condo projects in the near term.

[Sugarphreak]

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[ercchry]

Originally posted by Sugarphreak
So.... If I said "I told you so", would it be too early? :D

told me what? demand stays steady, supply drops, prices.... :dunno:






:bigpimp: :devil:

[woodywoodford]

On the same day that headlines mention rate increases/surprise inflation. Hmmmm....

[oz388]

Originally posted by woodywoodford
On the same day that headlines mention rate increases/surprise inflation. Hmmmm....

Compare to 2013, this year house gone up 10%, Gas gone up 10%, food gone up 10% and so on, Canadian dollar dropped 10% (vs USD) and my wage didn't move. I think I'm in my own recession :(

[rage2]

Originally posted by Sugarphreak
So.... If I said "I told you so", would it be too early? :D
Still too early. Wait till inventory dries up. That'll give us a few years to cash in and go from paper multi-millionaires to actual multi-millionaires. :rofl:

[Sugarphreak]

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[oz388]

Originally posted by Sugarphreak


Things have gone up too much since 2012, most of it is hype... lots of people I know listed their home just to see if somebody would buy it. There is a correction due at some point in the next 3 to 15 months.

What do u think would cause the correction? There may "never" be a correction just like SP500...

[ercchry]

Originally posted by oz388


What do u think would cause the correction? There may "never" be a correction just like SP500...

purely based off time frame... guy is nuts, one step away from ze-ops imo

[Sugarphreak]

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[rage2]

Originally posted by Sugarphreak
I wasn't expecting to see anything other than the market stagnating during August really, the real fireworks will start either by the end of September or next year

Things have gone up too much since 2012, most of it is hype... lots of people I know listed their home just to see if somebody would buy it. There is a correction due at some point in the next 3 to 15 months.
It's not hype, it's the fact that we're leading the country in population growth, and we are not building new homes fast enough. With city hall slowing down new development approvals in the suburbs, we're about 2 years away from running out of inventory completely as the buffer dries up. At that point we'll see a really crazy spike in SFH pricing until more suburbs are forced to be approved to ease demand, and those are the years to cash in on SFH's IMO.

Once supply comes back up, that's when we'll see a real correction. Now's the time to make some paper, thanks to Nenshi! :D

[ercchry]

Originally posted by Sugarphreak



Screw you, I am awesome at market predictions :rofl:

like that washed up highschool quarterback, just living off that one time when you timed a condo sale just right :poosie:

i agree with rage, this isnt a free market at all. government control will make sure there is no crash. shits gonna get crazy once the burbs stop spreading further out... real NYC type shit will go down :bigpimp:

[Sugarphreak]

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[TurboK]

I agree with avishal26, the article doesn't say very much. Bottom line is the housing market in Calgary is hot and that applies to both existing homes and new homes. Builders are charging those prices because that's what the market is clearing at.