I came across an article in the Edmonton Journal the other day about Don and why Edmonton’s a great place to invest in now. (If you want more info, go check out the Top 10 Alberta Towns Report.) Photo Credit: Rick MacWilliam, The Edmonton Journal It’s stuff that I’ve been hearing for a while because I’m a REIN member, but it’s interesting to see it in the Journal. The best quotes from the article:
So is Edmonton still the best place to invest in residential real estate? “Absolutely, it is,” he said Monday during a visit to Edmonton from Vancouver. “There’s no way the world can continue to afford $30 and $40 oil. … Eventually, within 18 or 24 months, we’re going to see the market come back to something that’s more normal.”
Last summer, a REIN report ranked Edmonton as the best place to invest in residential real estate, followed by Calgary, Red Deer, St. Albert and Grande Prairie. Devon placed ninth and Sturgeon and Strathcona counties tied at 10th.
“That being said, we were so superhot here that the pendulum moved so quickly and has gone too far the other way. Like all economic pendulums, it comes back towards the norm and we’ll start to see that pendulum start to swing a little bit more for Edmonton’s sake. Right now, if you’re focusing on yields, it’s still the best place.”