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Originally Posted by SPACEMANRICK
I bought some more shares in Canadian Oil Sands today at $8 and it has been as high as $24 in the past 12 months. If oil prices stay this low, I wonder how long it will take to impact the sale of luxury cars like the M3 in Alberta. I read today in the Globe and Mail that the inventory levels of houses for sale have been increasing dramatically in Calgary since December.
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Interesting that you read that, re-sale inventory in Calgary has been consistently decreasing since September. In December we were at 2000 single family homes for sale, today we are at 1700. There are still currently more sales happening that new listings going on market which means that demand is still higher than supply. This is due to migration.
Media always finds a way to twist things..