Buying Houses In Calgary & Edmonton Is Going To Get So Cheap Because Alberta's So Broke

They're dropping more than any other province!
Alberta House Prices Are Going To Drop Because The Province's So Broke

Alberta's loss can be your gain.  

Moody Analytics, a risk management and economy modelling firm, published a report on Thursday, September 24, that said that Alberta house prices are going to drop harder than any other province in 2021. 

Editor's Choice: This Short 1-km Hike Near Calgary Leads To A Hidden Pond Surrounded By Golden Fall Trees

The impact on the Calgary and Edmonton housing markets will last longer than for the rest of the nation. 

Abhilasha Singh

The company predicted that house prices across Canada are expected to fall from their current levels. 

But the speed at which these prices will decline will be different in each province. It added that the Prairie provinces will have the biggest "peak-to-trough decline."

The reason why this might happen is, if you haven't already guessed, oil. 

Drastically low oil prices and high unemployment have basically caused massive "economic hardship" for the people in Alberta and Saskatchewan. 

As a result, demand has been low, leading to an "excess supply" of single-family homes in Calgary and Edmonton. 

They expect prices to rise back up by the tail end of 2021 when a COVID-19 vaccine starts looking possible and the economy is in better shape. 

More from Narcity

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.

Loading...