Builders over building....remember what happened last time?

​In 2008 our real estate market experienced over-building and a large supply of homes combined with negative migration to our province (low demand for home buyers).  This caused steep price declines.  During the current oil industry crisis we have been lucky to have started with a low supply of homes.  Todd Hirsch of ATB reports today this might be changing, especially in Edmonton.  Migration could turn negative very soon yet builders are still building on spec.  I could go on with in-depth analysis using graphs and charts but really it simply means prices will drop more rapidly than they currently are.  Expect this in 2016.  Todd’s report click here.