Thinking long-term puts Calgary's housing market in perspective

Real estate is a numbers game, and looking at those numbers over an extended period truly does shine a light on the performance of a market over the long-term.

From that perspective, home prices in Calgary have been very impressive.

That is the question, but there is no easy answer that's right for everyone

It's an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?

It's not an easy question to answer, and there are no clear right or wrong answers.

"One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that's amortized over 25 years," said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. "On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.

Housing experts predict Calgary's rental market to see another year of high vacancies, low rents

Calgary's rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.

"We expect the vacancy rate to remain close to 2016 levels" said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).

Energy project approvals spark good news for real estate; just unclear as to when, say experts

In the closing days of 2016, Calgary's oil-driven housing market has received a welcome jolt of excitement from the federal government.

Ottawa approved not one, but two multi-billion-dollar oil pipeline projects, promising to move nearly one million barrels per day (bpd) of additional oil to United States and global markets upon completion. The two new pipeline projects would increase Canadian oil shipping capacity by 24.9 per cent.

Condo developers respond to 'downsizing' needs

As the largest segment of the population in North America, baby boomers have shaped our world more than any other age group. And their impact on housing is profound.

Now, while this generation, born between 1946 and 1964, is becoming increasingly gray, the real estate industry is responding to their needs for housing.

Many developers in Alberta are turning their attention to high-density high-rises in centrally located neighbourhoods to reflect boomers' demand for stylish, worry-free living, said Parham Mahboubi, vice-president of planning and marketing at Qualex-Landmark — a Vancouver-based development firm which is the force behind Park Point in the Beltline along 12th Avenue S.W.

CREB®'s mid-year update cites tough start to 2016, forecasts continued challenges moving forward

Calgary's housing market will continue to battle recessionary conditions during the second half of 2016, but the worse might be behind it.

That's the word from CREB® as it released a mid-year update to its annual Economic Outlook & Regional Housing Market Forecast.

"With no near-term changes expected in the economic climate, housing demand is expected to remain weak for the second consecutive year as resale activity is forecasted to decline by eight per cent in 2016," said CREB® chief economist Ann-Marie Lurie, who authored the report.

Aging demographic continues to shape Calgary's housing market

As the largest segment of the population in North America, baby boomers have undoubtedly shaped our world more than any other age group. And their impact on housing is profound.

Now, while this generation, born between 1946 and 1964, is becoming increasingly gray, the real estate industry is responding to their needs for housing.

Many developers in Calgary are turning their attention to high-density high-rises in the Beltline and other centrally located neighbourhoods to reflect boomers' demand for stylish, worry-free living, said Parham Mahboubi, vice-president of planning and marketing at Qualex-Landmark—a Vancouver-based development firm which is the force behind Park Point in the Beltline along 12th Avenue S.W.

The Bank of Canada surprised many Canadians last week when it reduced the overnight interest rate from one to 0.75 per cent.

Bank of Canada governor Stephen Poloz cited plummeting oil prices as motivation behind the drop, which represents the first time the bank has changed the rate since September 2010.

"The drop in oil prices is unambiguously negative for the Canadian economy," he said.

"Canada's income from oil exports will be reduced, and investment and employment in the energy sector are already being cut."