Originally posted by RC-Cola
With Alberta and especially Calgary continuing it's growth now is a good time to buy property. Predictions in the markets is that with the increasing strength in our dollar and the Canada's position in the global economy that our interest rates will continue to increase over the next two to three years. If you have enough for a down payment you should buy ASAP.
I'm going to have to disagree, I think our economy has plateaued right now, our economy just hasn't been growing the past few months as expected. Commodity prices have levelled out, unemployment has levelled out, growth in general has levelled out. The main reason for the interest rate hikes over the past 12 months have been to pace inflation, that itself seems to be tappering off, I think a good chunk of the inflation numbers were due to high commodity (read: gas prices in the winter). Now that demand has slowed (for natural gas since its summer), people are realizing that, hey, the economy isn't booming that much, auto sector is in the toilet, manufacturing is blah, oil and gas is quiet until the winter...... On top of that, as much as people tout a strong Cdn dollar, its not that great other than for us travelling, a good part of our economy is based on exports to the US, and paying expenses in Cdn and collecting a lower USD isn't such a good proposition. You will see the Cdn economy flattening in the short run and interest rates holding steady. That's my call!
George likes his Kung Pao spicy!