ARE YOU HALLUCINATING A BETTER FUTURE?
Can you feel it? Is it real? Do you hear it – quietly, and only in certain circles? Have you seen some of the signs of change? Look carefully, they can be subtle.
It’s almost a year since Canada woke up in a Covid world: change, pivot, unprecedented, uncertainty … these words became our reality.
But now, stock markets are actually higher than they were pre-Pandemic.
Now, oil and gas have returned to pre-Pandemic prices. Do you still remember when they were negative? Not that long ago!
Now, real estate sales volume and prices are on the rise in Calgary, despite unemployment levels that persist into the double digits.
Now, Alberta consumer confidence is on the rise with respect to home buying—based on a survey by the Mortgage Professionals of Canada.
And, the Alberta government just released a budget that is determined to continue stimulating and diversifying the economy. It may not be perfect, but we are definitely making progress.
Isn’t it fascinating that with everything that happened in 2020, Alberta still has an astonishing resiliency. We are open and ready for lives and livelihoods that are even better than what we left behind. We don’t exactly know what is next, but we can start to see light and hope on the other side of the hard times of 2020.
So what does this mean for real estate investors?
Well, unless you have the boy’s magic umbrella, there will be challenges ahead. But we’re not hallucinating. We’re not imagining or dreaming either. The stats and economic fundamentals will be slow to prove it, but the future is indeed looking brighter.
Mortgage brokers have transitioned from re-financing and deferring mortgages, to getting new mortgages for homes. Some employers are re-hiring our tenants—especially as the vaccines roll out and the Covid case count falls. GDP predictions change almost every day, but have you noticed the bond market? Many smart financial people are leaning into an expected recovery throughout 2021. We are putting the economic clues together, and we see momentum is slowly building.
A few investors will love being the trend-setters. Some investors will love the buying opportunities while the market is still in the very early stages of recovery. And many investors will wait, … , until there are more green lights, or until all those pesky ducks are in a row.
Each of us has our own risk tolerance—no judgement there. But now is a great time to do your research and pay attention to the market. And now is a great time to pre-position yourself with your mortgage broker. You can always add more documents to your broker’s file; but it is really difficult to be ready to jump on an opportunity when you’re not prepared.
We know our financial future is worth it. We’re not hallucinating. Calgary has a very affordable real estate market: for buyers and investors. We’re doing everything in our power to be ready for action as the opportunities arise. Chat with us anytime! @MtnEdgeDevelops @MtnEdgeRenovate
