In Alberta, house prices have gone through the roof since there is oil money everywhere.
With oil prices so low a lot of layoffs are happening. This should cause the housing bubble to burst.
Agreed. Also, the Lower Mainland and Toronto have been in bubble-mode for a long while, and perhaps may always be so. The rest of Canada - not so much.
Geezer tip: If you're willing to move, you can turn a bubble-market house into a life of luxury in another part of the country. It's a one-way trip though, for the foreseeable future.
Also - if you are youngish - understand inflation. Houses that my parents bought and sold for about $5k are on the market for about $500k. Houses that I bought and sold for about $50k are on the market for about $1m. Look at markets as fluid, not as fixed points.
It is still a crap-shoot so relax and enjoy life, but don't whine "ain't it awful" - that's just your starting point.
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