Recent BoC press conference for me was clear rates are not coming down anytime soon and reading between the tea leaves on Tiffs wording they could have a better chance of moving up than down. In regard to real estate teams, they will be the first casualties in the coming down cycle.
@jonflynn
4 ай бұрын
great comment thanks.
@Peter-sz1sn
4 ай бұрын
And with the jobs data released today by StatCan, it looks like the rate cut is not coming next month. But fear not, the BNN Bloomberg talking heads are not letting the facts stand in the way of their narrative.
@mr.d4295
4 ай бұрын
All the speculators that were buying in GVRD & GTA are running to Alberta and creating a bubble. This isn't a good thing
@TheNewSchoolGamer
4 ай бұрын
Currently, it's mainly from inter-provincial migration and immigration. The speculators went out west a while ago during the pandemic (for the record I invested and relocated to Calgary during that time), pre-con condos were $100K back then with decent positive cashflow if you were to rent it out
@libnizhr
4 ай бұрын
As an albertan, moving to rural alberta 1 hour away from your nearest decent urban center is not for everyone, while beautiful and quiet, those little towns are so depressing and isolated, if you’re not accustomed to the lifestyle or never been here before you’re going to regret moving there eventually. And don’t forget to add the harsh weather 😅
@stephenfermoyle4578
3 ай бұрын
ok debbie downer
@bman1990
4 ай бұрын
If you thought Albertans were pissed before, wait until this shit storms trickles through.
@halimaabdul4648
4 ай бұрын
She’s humble. I feel like she is strategic. That’s why she doesn’t need the nice car and big house, she’s probably got a bigger portfolio or building one.
@jonflynn
4 ай бұрын
realtors like her can be hard to find, hopefully a bit easier now that I had her on my channel.
@jshin5991
4 ай бұрын
Like those people moving from California to Texas. Lots of reasons of this happening. Very informative! Thanks
@jonflynn
4 ай бұрын
Thanks for watching!
@amyschmidtsells
4 ай бұрын
Very similar situation!!
@derekmerkel6605
4 ай бұрын
In Okotoks buyers are paying up to $85k over list price. The behavior in the market looks an awful lot like 2006-2007.
@amyschmidtsells
4 ай бұрын
It's for sure a different beast when you head south! I have had a few buyers just throw in the towel and head north to buy in the Edmonton region after being out bid or just missing out because everything is moving so fast.
@rachelk8368
4 ай бұрын
I'm in Calgary and home prices have gone up 70% in the last 4 years. I don't understand it. MAKE IT STOP
@MustyBastard
4 ай бұрын
after they were down 40 percent from 2016-2019. Not really up the much. Prices dropped a lot during the hurtin albertan years
@hagbard72
4 ай бұрын
Was trying to convince my wife to move to Alberta over a year ago, now it too is losing its appeal. Can't figure out how people can be affording million dollar (and close to that) prices?
@chrisfree2000
4 ай бұрын
Leverage leverage leverage
@mr2_mike
4 ай бұрын
For the Ontario watchers, Camrose, AB is very similar to Leduc, AB except no Cactus Club. 😂 7:50
@Mike-sl7zy
4 ай бұрын
How about a reference for BC watcher😂
@amyschmidtsells
4 ай бұрын
No Cactus Club but there are some great new dining options and a vibrant downtown with some very unique shopping, cafes etc plus more green space than you can imagine for a little city!
@namaste9111
4 ай бұрын
Hello John. It would be fantastic if you could arrange a similar video with someone from Quebec. In your previous videos, I've noticed that prices in the province don't seem to experience any pullback. This observation mirrors what I'm seeing on the ground as well. As we're now deep into May, in my town of Sherbrooke, just two hours east of Montreal, "Sold!" signs seem to be popping up everywhere I look. It's quite remarkable. Wishing you a great weekend!
@bobwinters5572
4 ай бұрын
Gotta get rid of this big new influx of migrants and anglos from elsewhere. Time to vote PQ and scare them away.
@TheNewSchoolGamer
4 ай бұрын
I moved to Calgary from Ontario 2 years ago and the current market is very reminiscent of the hot market in the GTA during 2021/2022. All of the properties that I've bought here were either sight-unseen within 24-48 hours of the the listing coming up on the MLS or pre-con due to the amount of competitive offers
@Adamcfyfe
4 ай бұрын
If you are ever interested in doing a video together, I would absolutely consider. Love your content.
@amyschmidtsells
4 ай бұрын
@jonflynn you should for sure chat with Adam, he is a great Calgary contact and a wealth of knowledge!!
@jonflynn
4 ай бұрын
Sounds good
@futureproof.health
4 ай бұрын
Real estate on fire 🔥
@jmjm1992
4 ай бұрын
People will regrat buying house from millions of dollars
@nathahow243
4 ай бұрын
It is horrible, people are bidding so much, it became outrageous. It is 200% now and it will get worst during summer, when people from other provinces come to Calgary. The only thing affordable is townhouse, but the condo fees are high, plus on top of that HOA fees along with them. A house you could have got 500k is 750k to 900k now. If you know Calgary, you must have a car if you move further from the city.
@TanK666Apocalypse
4 ай бұрын
GO AMY!!
@TT-fq7pl
4 ай бұрын
Why not? The whole province is on fire every summer now. We used to get relief from the brutal winters, but not anymore.
@southhillfarm2795
4 ай бұрын
I won’t watch this whole video because I’ve personally experienced the real estate bubbles in Alberta. The last bubble was from 2003 - 2009. It was all based on the price of oil and the falling interest rates. Now it’s about oil prices, when the oil flows it’s a boom, when the price of oil sinks the bust happens. But the home prices can be sticky.
@JeffSSartor
4 ай бұрын
This run isn't based on oil. It's based on migrational escape from other fucked cost of living areas
@amyschmidtsells
4 ай бұрын
@@JeffSSartor you are not wrong. What I am hearing from my out-of-province clients is that one of the top 3 motivations for moving to Alberta is political. I try to avoid politics but it is such a prevalent topic these days!!
@TT-fq7pl
4 ай бұрын
@@amyschmidtsells Good grief. Politics is the MAIN reason I want OUT of Alberta. Weak and fearful people always turn to demagogues. It's a major problem here, and getting worse.
@mikesmith-nj1ij
4 ай бұрын
@@TT-fq7plNo question. It's too bad we can't escape our federal leadership. The ultimate in week leadership and demagoguery
@TT-fq7pl
4 ай бұрын
@@mikesmith-nj1ij No, not the ultimate. Demagoguery can be a whole lot more brutal. People who hate Trudeau really do exaggerate. It's become ridiculous, frankly. Have you ever read any history? Or considered what goes on today in other countries?
@maximusfuscus
4 ай бұрын
People don’t realize they’ll be stuck inside for 6-7 months of the year, Alberta is a deep freezer compared to Southern Ontario or BC. Gaining something but also giving some life quality.
@amyschmidtsells
4 ай бұрын
Yikes, there are maybe 14 days out of the entire year (and not all at once- we generally get 2 cold snaps that last up to a week) where, yes, the air hurts your face. Our dry climate actually makes the colder temps easier to handle plus you don't get that damp chill in your bones! We also experience over 320 days of sunshine here in the Edmonton region. It's not all parkas and icicles! After growing up on the East Coast, I will take Alberta weather over the humidity any day!
@Stormshfter
4 ай бұрын
Most people won't last. I moved to the semi remote community of Sechelt in 2000. It was a 40 minute ferry trip from West Vancouver. People there didn't really welcome you into the community until you hade lived there through at least 2 winters, not that it was cold, but it was boring. It's very beautiful and was less than half the price of Vancouver, but the 6 months of the rainy season was very gloomy. I lived there for 12 years and saw many come and go.
@faisal-ca
4 ай бұрын
For people who can't afford to live in another city, it won't matter.
@alexrubin5955
4 ай бұрын
@@amyschmidtsells Considering 65% of the country lives on the east coast and 15-20% in the prairies, you could not be more wrong.
@MrTrevorDidier
4 ай бұрын
With the savings, they could go to Mexico/SEA/Philippines for 4-5 months per year.
@aiqueenla2786
4 ай бұрын
The world has gone crazy 😢
@soliscabal
4 ай бұрын
Very risky to buy now, what if you need to see the doctor?
@jonflynn
4 ай бұрын
good point
@monteclements7031
4 ай бұрын
Huh. Alberta has doctors nutbar
@amyschmidtsells
4 ай бұрын
Very common to hear Albertans complain about our healthcare. Seeing a doctor here is easier than in most provinces based on my experience...I have lived in a few provinces and have family across Canada. Nowhere is perfect but I have no complaints about the accessibility of healthcare here in Alberta.
@TT-fq7pl
4 ай бұрын
@@amyschmidtsells What is it that you sell? Wouldn't be real estate, would it? I live in AB, and the current government is driving doctors and nurses out of the province in huge numbers.
@lynb1022
4 ай бұрын
@@amyschmidtsells I've been in AB for 32yrs and lucky to be able to go to a clinic I like since around 2016, but I know a ton of people who can't find a GP. Good luck finding mental health care unless you can afford to pay someone $200/hr. It's near impossible.
@Tee-Star
4 ай бұрын
I couldn't be paid to live in Alberta 😢
@stephenfermoyle4578
3 ай бұрын
no one wants you there anyways
@bdawg333
4 ай бұрын
If real estate is ‘on fire’, clearly interest rate hikes should be in our near future! Oh, eight, we’re in Crazy Justin’s bubble of reality!
@pismomann
4 ай бұрын
heating up or on fire? loL
@marcuslatansa4202
4 ай бұрын
A bubble is a bubble, will burst soon
@MrTrevorDidier
4 ай бұрын
Lolz.. prices will be higher 5yrs from today, even higher 10yrs from today. Time will tell.
@1mikesass
4 ай бұрын
Thanks for this. Seriously. I live in this area and can confirm. (Sherwood Park) I am hooked up to my realator's portal that shows property status and everything affordable sells in 2 days max.
@jonflynn
4 ай бұрын
will be interesting to see how long it lasts
@amyschmidtsells
4 ай бұрын
So smart to be connected with an agent you trust, otherwise you miss out, especially in Sherwood Park!!
@mikesmith-nj1ij
4 ай бұрын
Calgary and area is unsustainable but Edmonton and area is just leaving the starting blocks. Don't get me wrong. It's been a strongish market for a while... But nothing like Calgary.
@kowshikdas5298
4 ай бұрын
All politicians made this country a big dumpster from allover the world 🌍. Last year maybe off the record more than million people came in this country! How you tackle the house price? Forget about destroyer Trudeau. Alberta UCP welcoming everyday tons of students, refugees and asylum seekers! Shame on every political party in this country, who makes our life measurable for their vote bank!
@EmilyHamsterLover
4 ай бұрын
The last affordable place in canada. Oh noooooo
@MrTrevorDidier
4 ай бұрын
Winnipeg, Regina and many other places entered the chat.
@gutsandgrittv5076
4 ай бұрын
@@MrTrevorDidier😂
@Pill-AI
4 ай бұрын
😂😂 … agent shouldn’t be enabling you like a drug dealer…
@ogopogo1397
4 ай бұрын
100%. There is no bigger tool without knowledge pushing nonsense than realtors.
@gutsandgrittv5076
4 ай бұрын
😂
@ogopogo1397
4 ай бұрын
Edmonton is NOT freindly. AT ALL. Born and raised nearby and lived a few times. Freindly? No. Its become a garbage dump of wokeness too. This video is amatuer hour. She knows NOTHING.
@jonflynn
4 ай бұрын
I think she was talking about camrose when mentioning the friendly part
@gutsandgrittv5076
4 ай бұрын
Realtors tell us nothing that counts for fear of being sued.
@larryraymond7615
4 ай бұрын
What.... everyone going hell, to be the first to live in a 15 minute city¿ Are they all covid believers!¿
@jmc8076
4 ай бұрын
Religion isn’t a factor for all who have certain political beliefs.
@jonflynn
4 ай бұрын
lol, it's funny that most people in that area are more like us but it's the first place the government are trying to pitch that 15 minute city crap. I forgot all about that.
@larryraymond7615
4 ай бұрын
@@jonflynn thought I heard June 1st is roll out 15min city for Edmonton.
@StephG26
4 ай бұрын
I don't know why she is so reluctant to tell the truth; of course we are being priced out of the market by out of towners.
@amyschmidtsells
4 ай бұрын
Not reluctant at all...in my experience over the past 2 months (for my sellers and buyers) the unconditional offers are making it so difficult for those who need to play it safe.
@redmapleleaf4617
4 ай бұрын
Happens in the Kelowna/Okanagan area too when those from the Vancouver area sellout for big bucks and bid up prices here.
@stephenfermoyle4578
3 ай бұрын
the ''migration'' story is old we all know the story
@mitch500
4 ай бұрын
Dont move to alberta, its too cold here for non albertans. Theres also nothing to do, winter is long 10 months and you will be bored to death. its terrible here please stay away.
@jmc8076
4 ай бұрын
23:41 broker friend feels the same. Not common. Social status is a strong drug?
@JS-jh4cy
4 ай бұрын
Is Alberta Calgary the bubble to pop and finally cool down the speculation in real estate casino of Canada?
@JS-jh4cy
4 ай бұрын
One bubble in real estate in Canada keeps shifting from area to area region to region and never frigging pops
@JS-jh4cy
4 ай бұрын
Now everything in real estate is expensive in Canada except an ice cave up north
@tmb3224
4 ай бұрын
Don’t confuse Camrose and Canmore!! I was talking to an Ontarian who said how much she loved “Camrose”, the beautiful mountains, skiing, and so close to Banff. I had to correct her that is def NOT Camrose, that is Canmore!! Completely different town, and “Canmore” is by far the most expensive place to live in AB!! More comparable to Interior BC prices.
@amyschmidtsells
4 ай бұрын
So true!!
@mikesmith-nj1ij
4 ай бұрын
I can't believe you ruined her dreams... She found a condo In Camrose by the mountains for $148, 000. For some reason everyone else she knew was paying 17 times that! 😂😂😂
@pvwhatsup8539
4 ай бұрын
Literally on fire these days 🔥
@geraldcroft9020
4 ай бұрын
Camrose, my Canadian hangliding buddies in Edmonton, used to go there to fly their hang gliders, a bunch used to come down to Utah to fly point of the mountain around the Canadian thanksgiving, which we would always fix a big feast for them. Good times. I miss my buddies.
@jonflynn
4 ай бұрын
sounds like fun, would like to try that
@amyschmidtsells
4 ай бұрын
I assume in the valley area? Sounds like fun!
@geraldcroft9020
4 ай бұрын
@@jonflynn they do have tandem hangliding flights I would suggest you do a tandem paragliding flight
@danmiller1056
4 ай бұрын
In 1979 my Boss built his dream home for 175,000.00. In 1986 I bought it for 75,000.00. History always repeats!!!!!
@jonflynn
4 ай бұрын
wow, thanks for the info
@jmc8076
4 ай бұрын
It at least rhymes.
@mr2_mike
4 ай бұрын
Given your stated years... Oil price collapsed. Will happen again.
@thamesvalleypainting5241
4 ай бұрын
God i hope your right
@spankymcduff9683
4 ай бұрын
@@mr2_mike not this time....
@ChrisCartwright-bu1tv
4 ай бұрын
send all the speculators to Winnipeg! lol
@tonykennedy1615
2 ай бұрын
People are moving here. It's market dependent. Area dependent. Resource demand plays a big role. The spring "bump" rule applies here as well :)
@dawnmageenovascotiarealtor
4 ай бұрын
Let's end the rhetoric that teams are better!!!
@killdeerperiland3303
4 ай бұрын
chinese or indians? who is it?
@jonflynn
4 ай бұрын
I can probably guess who the speculators are if they're coming from Ontario
@Peter-sz1sn
4 ай бұрын
All of the above and everyone else. 😂
@Burboss
4 ай бұрын
you'd be surprised - lots of domestic origin.
@redmapleleaf4617
4 ай бұрын
Realtors are big speculators.
@gutsandgrittv5076
4 ай бұрын
Arabs
@Hurtin_Albertan
2 ай бұрын
How long until the crash?
@moslemson
4 ай бұрын
Good thing Alberta’s economy is now diversified; as long as oil stays above $80.
@alexrubin5955
4 ай бұрын
Ha ha true. It's one thing to move to AB for political reasons when you can work/earn money from anywhere. It's totally different when you need a job here in the local market.
@rossmacdonald3880
4 ай бұрын
Great interview and insights Jon, thanks for putting this together. Alberta bound is a classic Canadian tune. 👍🇨🇦
@gutsandgrittv5076
4 ай бұрын
Stompin Tom conners I think eh?
@grandmaG67
4 ай бұрын
I'm glad we sold in bc and bought in alberta when we did last year. We couldn't retire in bc or buy anything without a mortgage. Grande prairie is starting to sell lots in only a short time, I've noticed. It's a friendly city that's still growing. Paid cash for our house in a nice neighborhood. Alberta is definitely friendly if you don't vote liberals 😂
@Jt-hl4yv
4 ай бұрын
congrats....we did the same thing 2 years ago and moved to Saskatoon....so glad we did....real estate in BC got out of control...what goes dramatically up has to come down...we got out at the peak
@ogopogo1397
4 ай бұрын
problem is you asshats will bid everything up and then vote Liberal and ruin everything.
@seasun100
4 ай бұрын
It was flat for about 10 years so just playing catch up as $600B printed in the system during covid. The money need place to park. Follow the trend or price out.
@MustyBastard
4 ай бұрын
actually they went down a lot from 2015-2020. At least here in Edmonton. My house is just finally worth what I paid for it in 2014 after being down almost 100k for many years
@Marley-ii6ls
4 ай бұрын
Trudeau is printing another 540 billion this spring. High taxes will be the only way to keep the ship from sinking. Unfortunately when you tax the crap out of people, it begins to look more like communism. Underground economies begin to grow to avoid the taxes.
@ogopogo1397
4 ай бұрын
BC people are moving, but they are fickle and wont last 2 years. 1 tops.
@gutsandgrittv5076
4 ай бұрын
😂🤣
@andrewciechanowski8032
4 ай бұрын
great interview, thank you Amy and Jon
@amyschmidtsells
4 ай бұрын
Glad you enjoyed it!
@Peter-sz1sn
4 ай бұрын
Another great video!!!! And one of your best guests! ❤❤❤
@amyschmidtsells
4 ай бұрын
@peter-sz1sn so glad you enjoyed the video!
@catcat7835
4 ай бұрын
Edmonton is a sanctuary city, its not a function. Check whats going on in Calgary.
@GB-bu6vx
4 ай бұрын
Banks will be the big losers due to these fake prices
@veeo987
4 ай бұрын
It will be interesting to see how long it will last. The moment prices go down enough in Toronto and Vancouver, many people will want to move there and I feel like the rest of the country could see a big reset because of that.
@milkandcookies4227
4 ай бұрын
One tip without trying to sound mean, when you tell a story about selling a townhouse please provide the numbers thats what people want to hear, no vague stories about how it went up in a bidding war... or dont tell the story at all
@amyschmidtsells
4 ай бұрын
Here are the numbers...listed at 290K 3 years ago, no bites. Listed at $317K last month and sold in multiples for $322K. Others in the complex then went up for $330K and sold just over list.
@hansmclain6749
4 ай бұрын
In NW Calgary, we bought a Row Townhouse Condo in late 2021 for 345 1400sqft. With upgrades like AC. As of today our unit is worth 540k and climbing monthly. It's insane.
@dirtlump
4 ай бұрын
Profits that were extracted/derived from the fomo/speculative driven Mortgage originations that have distorted GTA/GVA Real Estate markets are now being re-allocated into more attractive/sustainable valuation markets ie: Calagary/Edmonton et al across western Canada. This unfortunately, also indicates the degree of now unfolding deflationary potential in the GTA/GVA markets as the current 'greater fools' in those markets are left holding the 'paper' on those unsustainable valuations You can't push on a string.... financial conditions matter versus supporting median income potential(GDP/GDI potential) regardless of location
@mikesmith-nj1ij
4 ай бұрын
There's truth what you're saying but Calgary and Edmonton... To this point... Have had vastly different experiences recently... In Edmonton the market is tight to strong for sellers... Calgary has exploded in price for over a year... Properties are at least 200,000 more in Calgary than in Edmonton... In many areas the Gap is even wider
@dirtlump
4 ай бұрын
@@mikesmith-nj1ij I would invite you to research available "GDI" or 'Gross Domestic Income' as derived from Canada's already stagnant10+ years GDP..... that is now completely unsustainable under actuarial analysis of serviceability/maintain the Payments on Canada's now ~$3 Trillion combined Mortgage/Consumer DEBT instrument accumulation heading into still 700,000 Mortgages(40% NEGAMS) renewing now through 2026 all at far higher rates/payments than initiation.... under a BoC monetary Policy rate constrained against further unsustainable by GDP/GDI Debt instrument growth manifesting as cpi inflation in the immediate devoid of "future' GDP capacity to borrow further against. If DEBT is indeed no more than borrowing from future economic GDP/GDI capacity.... Canadians have run out of future DEBT servicing GDI capacity to borrow against ! and the BoC now finds itself stuck between a "rock" of importing resurgent cpi inflation in deviation lower from US Fed Rate policy tanking the Loonie....(further unsustainable debasement based DEBT expansion).... or, a very HARD place in currency valuation protection into recession/demand destruction and very painful deleveraging cycle. All the Calgary/Edmonton market gains are is re-investment of Profits realized/derived from the GTA/GVA DEBT instrument expansion now collapsing. Those markets will not sustain higher..... again servicing "GDI" is insufficient.
@Marley-ii6ls
4 ай бұрын
Oh they'll keep rockin in the GTA. No need for a high median income, when 3 couples join together to buy a house. That's the culture.
@dirtlump
4 ай бұрын
@@Marley-ii6ls As already evidenced within CMHC and Genworth data assumptions, that co-familial ownership model relies heavily upon an eventual 'realized equity' progression into individual SFD aspirations conducive to later individual household formation/family growth. Simply put.... the now unfolding National GDI deficit longer term.... let be for now the already intensifying outright deflationary price discovery pressures presenting does NOT bode well into longer term aspirations typical of that co-familial acquisition model ?
@stevendefehr4393
4 ай бұрын
Great show! What is a townhouse- condo? In BC I’m familiar with townhouse and condos being two different animals.
@lynb1022
4 ай бұрын
The townhouses have been converted into condos/stratas. So many old shitty apartment buildings too - it's always been preposterous that slumlord apartment buildings magically converted into condos and now they're just rented for 3x the shithole price.
@amyschmidtsells
4 ай бұрын
Townhomes would be attached homes- 2 story generally. In Alberta we have some that have condo fees and others that do not.
@ogopogo1397
4 ай бұрын
its exactly what she said. Condo is an ownership not a floorplan. You have them ALL OVER BC. You call Condo boards Strata.
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