Land with always increase in price because there isn’t more being made. Demand will continue to increase as the earth becomes more crowded and, because the earth remains the same size, supply will essentially decrease.
If you are looking for the best time to buy real estate the answer is – AS SOON AS POSSIBLE. Alberta is a diverse and active economy. Even when one industry slows the economy only fluctuates slightly. Right now we’re feeling the effects of a slow oil and gas industry but crunch some numbers. Add up all the “slow” years we’ve witnessed in Alberta over the last 50, and compared that number to all the favourable years.
In other words – in Alberta we haven’t seen a real estate price decrease over any 10 year span ever. As a matter of fact, in Red Deer, Alberta prices have practically doubled every 10 years for the last 50 years. And even if price were to only increase 50% over the next decade, you will do pretty good…
When is the best time to buy real estate if you want to earn equity? AS SOON AS YOU CAN!