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[@LukeOnTheMove]

Next year could be an absolute disaster for Calgary real estate. All these people buying right now are clueless to macro economics. We're still in the deferral phase of coronavirus pandemic. Calgary has one of the highest unemployment rates in the country, lack of jobs available too. Not only that 18% of insured mortgages estimated around 12% of Calgary's total housing inventory is in payment deferral. Most are locked into fixed term mortgages and can't sell or buy. Leading to guess what? An inventory shortfall as not as many people want to sell because they don't want random people walking around their house with COVID + so many homes are in deferral and can't sell right now. What does this mean? Next year the real estate market will see a big correction. There will be mass panic selling from people who purchased this year going into negative equity almost immediately. A sensible thing to do as a buyer is wait until that deferral number is down at 2-4% and look at the market and if it's on a good trajectory and unemployment has improved and the economy is improving then buy. Buying now could essentially be suicide. Also I'm not being subjective I'm leaving Calgary anyway because the economy so either way the housing prices make zero difference to me. However it will be said that lots of buyers were misled into buying this year by Realtors spouting that everything has recovered and it's perfectly OK when it's not. There's been no recovery here since COVID it's all on hold right now in that deferral phase so essentially nothing has changed.
However on the buying side people in townhomes and condos wanting to move into single family homes, people trying to take advantage of low interest rates despite that being for small businesses and not put in place for them to buy a house at a lower interest rate and despite government agencies, banks, and other forecasters warning of huge drops and a deferral cliff and that is why we are seeing housing prices essentially flat during this massive economic downfall and inventory declining folks. The Calgary Real Estate stats are completely misleading at this point price could go up, down or sideways until those deferrals unwind who knows what will happen buying is a massive risk. It's what is known as a bull trap. The worst of this COVID economic shock is unfortunately yet to even start. Migration stats are interesting as so many people are leaving Calgary more than are coming to Calgary.
Another massive change that happened this week is BofC stopped buying junk bonds of the banks. What that means is so essentially this will have a knock on effect with credit lending being tightened either by credit qualifications or interest rate hikes which will cut out a chunk of the buyers right now. But the real fundamental is the deferrals and how awful that is. So many households deferrals expired and they're extending. Deferral rate is highest in the country here in Calgary.
But anyway this will probably be a waste of time writing this to help people as I am hoping OP will not delete this and he has been fairly transparent making these videos. Good Realtors will make money regardless of where the housing prices go. Bad Realtors will have to find another job it wasn't for them and that's life. Too many Realtors only care about money and put on a facade that they have the best client interests at heart.