You have to wonder what the headline writers are thinking sometimes. Flipping through the paper the other day and I come across this: “Nearly one-quarter of Calgarians believe home prices still ‘unreasonably high’, poll finds.”
First of all, it’s probably natural for a large segment of any major city population to respond to a question like this in a way that reflects the general perception that real estate is expensive.
That’s a typical reaction to anything that requires a large investment, regardless of the actual value. Let’s be honest, anyone walking into a major city today is not going to be saying “Wow, this is great. It’s so cheap here.”
Reading through the full article though, it becomes clear that the responses from Calgarians were actually quite balanced. Despite the misleading headline, the poll findings showed a strong viewpoint among many that home prices today are actually quite reasonable.
The question asked was “How would you describe the typical price of a home in your community?” The highest response, at 38 percent, was “Reasonable overall.” An additional 9 percent responded “Maybe a bit low.”
This is just another reminder to take all real estate news with a grain of salt. For anyone considering a real estate investment, the best way to get a view of the market is to actually get out and view some properties with the assistance of a professional realtor.
There is a lot of opportunity in the market today. Here are some examples of the great listings available.
Footnote: Giving the media credit where it’s due. On the flipside, media deserves credit when they do good coverage of important issues that deserve more attention. An example I found of interest recently is this piece by Tom Babin, which sheds light on the ‘donut’ trend and how this can cause issues for older suburbs. I’ve seen this happen in other cities and wonder about the implications for Calgary. Worth a read and I would welcome your thoughts. Connect with me anytime directly or via social media.