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As we slide toward Fall, out of the shimmering mirage days of summer, there is a lot of talk out there about housing prices in Canada – and none of it is real good. Interestingly, there is less of an attempt to put a positive spin on things from the Real Estate sector, I’m wondering if this is because they are hoping that everyone is just too busy with preparing for school, or purchasing an iPhone 4 to care about what their home price might be doing.

On a more serious note though, it does raise the question of whether property is the sound investment it has been considered to be for years, and down at the household level, this sort of news should prompt home owners to determine exactly why they live where they live and whether they would live there if the house was no longer an investment.The days of speculation purchasing probably have not disappeared entirely, there will always be a reason for people to have unrealistic beliefs in the market – and some people will make money off of it, but others will lose.

One thing’s for sure, the days of the McMansion are over, average new house sizes are shrinking as developers and builders struggle to market to cost and energy conscious buyers. However, the price of gas as it stands has not been a huge deterrent to families purchasing in the middle of a suburban development where it is impossible to walk to any schools, services or stores, or for people to consider that they really don’t need a 5.7 litre diesel truck to run errands.

Nothing is guaranteed except the unexpected as society moves toward The Long Emergency – do you have a Plan B or Plan C if things don’t turn out as you’d hoped?

Published by Mike Thomas

Mike Thomas P.Eng. ENV SP, is the author of UrbanWorkbench.com and Director of Engineering at the City of Revelstoke in the Interior of British Columbia, Canada.

2 replies on “Fall and Falling Prices?”

  1. I implimented Plan “B” in 1996 when I purchased the small house I live in now.
    My criteria was that if I no longer could afford a car, then I could walk to all the local amenities such as grocery store, doctor, dentist, library, bank, post office, drug store and my place of business.
    I am also within walking distance of Millenium Park and Zuckerberg Island and like all of us, can enjoy the beauty of our surroundings.
    When my car finally has to cross the Rainbow Bridge, then perhaps I will look into getting a tricycle.
    I just cannot visualise living in a place where one has to get in the car just to go and purchase food.
    Visiting friends in San Antonio, I expressed a wish to do some walking and my friend said there is a park nearby. So, we hopped into her car and drove five miles to this walking trail. Just not my kind of life.

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