The housing market, like the raspberry crop, appears to be undergoing a strange late autumn resurgence. Alarming reports from other markets have been heard where detached home prices are higher than ever and tremendous demand was recorded in terms of home sales. Calgary has only felt a marginal amount of this compared to the bubble markets but we did see a lot of pent up demand and good September numbers (strongest sales since 2014). How much of this is attributed to government money printing and currency debasement I can’t say. If buyers in this market faced 6-8% loans, which is where it could be without market manipulation, we’d have had a total meltdown. So the government and central bank manipulation is helping the housing market stay afloat but for how long and what will happen when the rates normalize? If ever they are allowed to (which they won’t be). Since you can’t fight central bank printing presses, it does seem to make sense to purchase some real estate and other hard assets.
After a late spring we have a second wave of raspberry. These are doomed to be killed by frost, but what will happen to the housing market? Will it suffer the same fate or somehow will Calgary be hit with tremendous upward pressure in housing prices?