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What would happen if…

What would happen if the Canadian real estate market followed a similar path to the U.S. housing market, and what would that look like a year down the road?


The Financial Post answered that question in an article titled, “How low can they go? If Canadian prices follow U.S. trends, certain cities will experience a major slide in house prices.”


Using a calculation based on the rise and fall of U.S. housing prices, and applying those same numbers to prices in Canada the Financial Post determined it would “…mean that most Canadian cities are headed for a fall in housing prices, especially those out west.”


Using their formula, the average price of a Saskatoon home would fall to just shy of $170,000 by October 2009 from it’s peak of $310,386 in June of 2008.


Is this method of comparing markets reasonable, or is it more like asking, “What would happen if we all suffered from cancer symptoms?”


You decide, and please let me know what you think.


I’m always happy to answer your Saskatoon real estate questions. 

All of my contact info is here. Please feel free to call or email.


Norm Fisher Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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