Saturday, November 1, 2008

Living on the Hill

I'm looking out of my window at an incredibly blue and sunny Alberta sky that does not appear to be falling. Despite rumours to the contrary, life in the big city goes on and we should all be thankful to be living here and enjoying tremendous blessings compared to so many people in other parts of this crazy world.
I wanted to comment on the Calgary Herald article "Living on the Hill". It starts out with anecdotal examples of the economy not collapsing followed by a desperate sales pitch for individual properties.
We are constantly bombarded with negatives telling us that we should be tightening our belts and avoid spending. But fortunately our economy is fairly stable today, thanks to people who are still buying. I was with a car dealer last week whose sales chart showed that he'd sold four cars already that day.
Retails sales have fallen in Alberta, by 0.4% in August. This is notable when you consider inflation and increased retail space under construction.
Calgary. It's clear that many are still positive about the future -- although perhaps a little wary of the immediate future -- and realize that this is a good time to buy real estate.
It is arrogant to say that people 'realize' it is a good time to buy real estate. This implies that it is not even an opinion or a possibility but an indisputable fact.
I was thinking of real estate sales while driving north up Crowchild Trail and noticing a splendid new house under construction on the brow of the hill of St. Andrews Heights. There's confidence for you -- and a good response to the killjoys.
Ignoring the anecdote, the actual numbers for housing starts are down 59% in Septemeber. Anyway the article continues with desperately trying to sell individual properties.
The mature, ideal location and quality of many of the homes demand high prices. A 1,800-square-foot Rosedale bungalow backing onto the park on 9th Street is listed at $1,699,900 -- but what a beauty.
Does the Calgary Herald not have enough real estate ads?

1 comment:

squidly77 said...

this is a good it a sign of what waits ahead..i think you might find it especially interesting
a very bad idea