Housing market feels the chill as oversupply continues

Friday, March 8, 2019Norm Rousseauposted in General

City of Calgary, March 1, 2019 – The effects of Calgary’s economic climate continue to create weak sales activity and elevated inventory in the city’s housing market.

As a result, prices are being affected.

“It is not a surprise that slowing activity in the housing market has persisted into February,” said CREB® chief economist Ann-Marie Lurie.

“There has been no substantial change in the economic climate and concerns regarding potential layoffs in the energy sector are weighing on confidence.”

As of February, citywide benchmark prices were $414,400. This is nearly five per cent below last January, slightly lower than last month’s figures and over 10 per cent below highs recorded in 2014.

While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month eased by eight per cent compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventories levels, which remain elevated at 5,885 units.

Daylight saving time

Friday, March 8, 2019Norm Rousseauposted in General

Sunday March 10, 2019. Move your clocks ahead one hour.


Ten per cent of Canadians no longer qualify for a mortgage with banks.

Friday, March 8, 2019Norm Rousseauposted in General

When a mortgage stress test was first unveiled in late 2017 by the Office of the Superintendent of Financial Institutions (OSFI), it was to support the goals of keeping future Canadian homeowners’ financial “heads above water” and preventing “loose” lending. Downward TrendAfter more than a year in play, it is now apparent that the stress test is causing more harm than good, effectively closing a door in the faces of first-time homebuyers. The time has come for policy-makers to consider how to incentivize homebuyers in Canada, not penalize them.

Navigating the emotionally fraught process of selling the family home

Tuesday, February 26, 2019Norm Rousseauposted in General

By Gerald Vander Pyl - Feb 22, 2019

For many empty nesters, downsizing means selling the family home where they have lived for decades.

Every nook and cranny of the home contains vivid reminders of their life, from pencil marks on a wall to record the heights of growing children, to cherished photos of family and friends.Family Home

The emotions that are triggered when selling a family home are caused by the memories it contains, says registered psychologist Patrick Keelan.

Insight for Feb 4 2019

Monday, February 4, 2019Norm Rousseauposted in General

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