Watching Calgary’s real estate market over the past three years has been a bit like that movie we’ve all watched at one time or another. It’s bad, it gives little hope to getting better, but you watch it anyway, in hopes that the plot improves to reward you for your patience. And you wait…

In Alberta, and specifically the Calgary market, negative forces have conspired to drive home sales down, including unemployment, higher interest rates, and strict (and punitive) mortgage approval rules. Throw in increased taxes and a generally pessimistic outlook by the public, and well, here we are.

That’s not what this post is about.

Since the market slowed in 2015, I have been asked many times, “have we reached the bottom?’ The answer is, I don’t know....

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