Lorri Brewer has been around long enough to know that it is possible to buy and sell a home at the exactly wrong time from the standpoint of market dynamics. In the severe real estate corrections recently seen in many parts of Alberta, some buyers who bought at the peak and then either panicked or were forced to sell at the trough lost many thousands of dollars. However, purchasing residential real estate has to be seen as a long term strategy and as such, there are few times in the swings of the economic pendulum when buying your own home is counter-indicated.
It is important to note that the state of our local Edmonton economy is not the only consideration when considering the timing of purchasing a home. Your family's current condition, stability, and financial status are critical points to analyze prior to stepping into the residential real estate marketplace.