Although I believe my knowledge covers all(!), I will limit it to Red Deer Real Estate for this blog. The market is not as volatile as the media would have you believe. Sellers are not dropping their prices rapidly and buyers are searching for their interpretation of value...this is how the market works almost all the time.
First question: Should I buy now? Answer: If not now...when? Everyone needs a home (obviously)...if you have the downpayment, qualify for a mortgage and are going to be in this home for more than a year...preferably 2 or more years you should be making your move. Trying to guess when the market will hit bottom is almost impossible...and most investors never recognize bottom and buy when the upswing is well underway.
Second question: What about the economy? Answer: In the history of North America, economies have gone up and down...and yet we survive and thrive. It is hard to believe that this time will be any different. If you know your job is not in jeopardy, your industry and company are solid...then you have the stable foundation on which to buy. Our government will be looking for ways to get you to spend money to stimulate the economy and they will be spending your tax dollars to stimulate the economy, so be a good Canadian and buy a home!!
Thanks for the read...
This guy sells homes!!