Edmonton's Home starts were up due to multiple starts. Calgary however was down significantly. Let's compare the articles from the Edmonton Journal versus the Calgary Herald.
Edmonton:
http://tinyurl.com/36vpx7
Calgary:
http://tinyurl.com/2ngac9
Both reports point to weather playing a key role in why detached starts are down. In Edmonton, it was an exceptionally warm January in 2006, hence higher starts. In Calgary, they attributed January 2006 on rain.
Based on Febuary forecast to be colder, what should we expect from Febuary starts?
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6 comments:
i hope you keep this blog going
they are tough to start
if some one posts a comment
ill disagree with them
let the debate begin
Starts will stay high as long as prices stay high. I think the builders are raking it in even with labour shortages at these prices - so there will be no slowing down near term.
Do people think a severe correction is possible without oil tanking? I think some price correction is possible but a lot of 2006 price gains were legitimately caused by "HOT OIL ECONOMY" its just hard to determine how much. 50% price gain in 2006... how much is from what? I'm just going to put arbitrary numbers down for discussion:
20% HOT oil economy
10% herd psychology: can't lose attitude
15% herd psychology: panic buying + new lending standards
5% Inflation
squidly, i know you are more of an uber-bear what do you think? Maybe you think RE was overvalued in 2005? Ha!
How much does weather effect starts? What work needs to be done for a start to be counted? Other than a possible one month blip downwards i think starts will continue to be high.
there is another factor,
Remember that Edmonton RE Market is still quite affordable and in many cases makes for a decent investment from the point of view of a VANCOUVERITE...
or any "investors" from the states
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