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27 Mar 08

house.pdf (application/pdf Object)

Alberta’s housing markets on watch
Affordability appears to have peaked about midway through last year. Conditions
are now already on an improving track with more relief in the pipelines over
the coming quarters. Healthy income gains (running at 5% year-over-year in the
final quarter of 2007) combined with a decline in house prices led to overall affordability
improvements for new homeowners trying to tap into the overvalued Alberta
market. This marks the first time in over three years that the market has
witnessed a broad-based affordability improvement across all home segments.
This also marks the start of what we fear could become a trend. All of the key
housing measures are in contraction mode right now including house prices,
housing starts, and resale activity. The sales-to-new listings ratio has swung
dramatically from deep seller's territory into a more balanced state and has remained
in steady balance for the last six months. Further improvements are
expected as the market continues unwinding and mortgage rate relief materializes.

www.rbc.com/...house.pdf - Preview

CBEV affordability alberta housing

reportonbusiness.com: Housing affordability drops to 18-year low, study finds

ROMA LUCIW AND LORI MCLEOD

Globe and Mail Update

March 14, 2008 at 5:43 PM EDT

www.reportonbusiness.com/...Business - Preview

CBEV affordability estate housing market real

Housing affordability across Canada has dropped to its lowest level since the country slid into a recession in 1990, with the standard two-storey home eating up nearly half of a household's income, says a report from the Royal Bank of Canada.
“The national figures are skewed by the Alberta figures and that is a market where we are expecting price drops to occur,” Mr. Holt said.