Mr. Cam Good - FACTS |
- People crave normality.
- Prices have gone up and up and up. Then the USA crashed. Then Alberta "crashed". People worry it will happen here, grow naturally skeptical about our market and decide to sell. Listings go up. Days on market go up.
- Investors have changed. Gone are the pure flippers and active are people looking to hold and rent while enjoying assignment privileges as just one of their options.
- We're in a very natural period of insecurity and questioning created and fostered by headlines and conversations over dining tables and at cocktail parties. Headlines are sensational sound bites taken in complete isolation. When you read the story it often does not support the headline.
- There are no macroeconomic forces causing a downturn in the real estate market.
- Immigration and BC economy are strong.
- Borrowing costs will stay put for the near future. Cuts may come later this year.
- Kelowna is a world-class resort city. There are millions and millions of people in Canada alone that would love to live here. Don't take what you have for granted.
- The worm has turned in Calgary. Listings have decreased three months in a row and MAC has sold more homes in the past two months than they did in the previous six.
- MAC is consistently doing deals but realtor participation has dropped from 76% to less than 10% over the past few months. At one site in Calgary we have done 30 deals in the past 60 days but not one of those buyers were brought in by a realtor whereas a few months ago 76% of buyers were represented by realtors! The market confidence problem exists more in realtors than even the public.
- The condo living model works. MLS data shows that condos compared to single family are becoming increasingly popular. Buyers are choosing greener options, ecodensity and ease of living.
- The results of a $5 Billion marketing branding program that is the Olympic Games will blow us away. We're not ready for the wave that's going to hit us. Think of the guaranteed increases in tourism FOREVER.
- Premier Gordon Campbell announced $14 Billion on infrastructure and transportation spending after 2010.
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Posted on August 27, 2008 |
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