For those who live in the west end or drive on the Anthony Henday… the government of Alberta is having an open house tomorrow to discuss the detailed plans for the interchanges on the Anthony Henday and Callingwood Road and Lessard Road interchanges.
Wednesday March 26, 2008
2:30-7:30
Willowby Community Hall
6315 184 st.
It is an informal drop in event with displays and consulting team members available to answer questions and listen to comments and suggestions.
According to an article in the journal, the Stony Plain road information session has already taken place, and there are plans for an interchange at Cameron Heights as well.
CTV.ca —March 26, 2008.
“We’re into the most incredible renter’s market coming up. If you simply want to make money and secure your finances, you’re going to rent, because renting is far, far less than the cost of owning right now,” Turner said. “And it will remain that way for the next couple of years.”
Vern what was unsaid is, if you didn’t own before now, you weren’t very smart, since we’re only now coming into a renters market and then still only for a few years.
Anon,
You come across as being smug. Not everyone could buy a house before because they were still in school or trying to save enough for a down payment. So please give some thought to your posts before you start writing. What vern is trying to say from his quote is that it is not a good time to buy right now. I own a house and I was fortunate to buy it 10 years ago. In the long run it probably makes more sense to own rather than rent, but it doen’t make sense right now to buy.
Sheldon , This is for you , ref to your post ” US sales up 3% ”
NEW YORK — Home prices in many U.S. cities continued to plunge by record levels in January as sellers cut their asking bids and rising foreclosures took their toll, new data showed yesterday.
U.S. home prices fell 10.7% in January, and the Standard & Poor’s/Case-Shiller home price index of 20 cities saw the steepest decline in the index’s two-decade history.
Worst-hit were Las Vegas and Miami, both reporting 19.3% drops, as the regions are still paying the price for rampant speculation and overbuilding during the boom years.
What’s more, the declines are growing in severity, with 13 of the 20 cities reporting their biggest single monthly decline in January. Only Charlotte, S.C, reported an increase – 1.8%.
Edmonton sun March 26/2008
Stop spinning now, sales up by 3% than January 08, as price was dropped.
Hirenshah
When your looking for a bottom in a market, you look a stats like “sales up 3%”. This means the tide has changed from previous declining numbers. You also look at the numbers you just quoted. Together they would definitely give you a pretty good idea where the bottom is. This is a good thing, not a bad thing.
PS: Seeing a little light at the end of a long tunnel doesn’t mean your trying to spin something. It only means your looking for a little light at the end of a long tunnel. Gets you out of the darkness.
Landlords must be loving this renter’s market… townhouses being rented from 1300 to 1500.
Four guys at work tried to sell their condos/duplexes to co-workers for 10,000-20,000 off their MLS listed prices a few weeks ago. This week, they’re all trying to rent them out, discount for co-workers. One of them has a 1450 mortgage AND $350 a month in condo fee’s for a 900 square foot condo out in Ellerslie. But he’s willing to rent it out for 1300 a month.
Seems like a rush for the door amongst short term specs.
US market has not hit the bottom yet. All indications are (Economist, Wall Street Journal, NY Times, Washington Post, MSNBC, CNN) that bottom is yet to be found. In scientific world the 2.9% spike m/m is referred to as noise.
My money will be going towards my living expenses while renting – it is only 2X as much as my car – well worth it. The rest of it will be invested and saved.
If I buy a house now, I will loose most of my life savings when the price goes down – even if it goes down by 5%. The number of empty houses sitting on the market are about 40%
Additionally the interest alone initially would be much higher than my current rent.
Thanks but no thanks. I won’t be buying the house that you speculated on.
I will wait for some sanity in this blue-collar town. Bottom line is, 35% affordability number is just right for Edm.
My money rather go to a landlord than a bank.
I don’t agree with anything Vern has to say except the most important comment which is very accurate. You should never spend more than 35% of your income on your mortgage. In Vancouver people are accustom to paying 70%+. That is a crazy! Good jobs mean a higher affordability rate however I would encourage, as does Vern, anyone not to mess too much with this ratio. That said, is it more likely that prices will drop or wages go up? I think a little of both. There are some very nice homes reasonably priced out there but there are way too many ugly dumps that are priced over $400K. Give me a break. Shop wise and within your means and I think you will always come out ahead in the long run. Renting is always an option too.