Obfuscated definition:
Darkened or cast in the shadow or background; obscured by withholding proper light or emphasis; hence, confused, bewildered or lost sight of.
Obfuscation refers to the concept of concealing the meaning of communication by making it more confusing and harder to interpret.
Lets look at the Calgary Herald:
MLS sale price falls first time in 12 years
Market eyes stability amid higher listing
Lai Sing Louie, senior market obfuscater in Calgary for Canada Mortgage and Housing Corp.
...average price increases peaked for the province in close to mid-2006 and they've become smaller ever since." The province is following a general trend being experienced in Calgary as well with falling sales, stabilized prices and increasing listings
Reality:
Average price increases have become smaller, then reached zero and are now negative.
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"The reason you've got a month-over-month decline (in Alberta average prices) is that the sales price in April last year was extraordinarily high, It has come back just a little bit but it has stabilized."Gregory Klump, CREA's chief market obfuscater
Reality:
People paid too much for houses last April in Alberta.
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But... but.. look at Fort McMurray!
"The one market where there's still a lot of price strength is in Fort McMurray (Wood Buffalo region). If you look up there, that real estate market still seems to be rising there,"
I also have a comment on the increasing prices in Fort McMurray. I can only present theory and conjecture but I still think it is useful. Here me out:
Even if the Fort McMurray's economy continues to boom, which many expect it too, it is still possible for real estate to stabilize or fall. Consider a $420,000 mobile home for a moment. Even a price of $320,000 would require an insane economy and more importantly insane rents. So even if you are sure the boom will last "at least another 10 years" there is an equilibrium price for a mobile home - and its not infinity. Look to Edmonton which has demonstrated a strong economy and falling prices.
I also want to hear from fort McMurray locals. I see "offer pending" on many questionable listings and I presume its some REALTOR method of creating hype and drama. What is a pending offer?
See previous post on Relaxing Housing Prices
