ICYMI: With the Bank of Canada set to raise interest rates again on Wednesday, Calgarians are bracing for the pain to their bottom line yyc yycbiz
Advertisement 4Roland and Brenda Kalisch, who were enjoying the Calgary Stampede on Tuesday afternoon, said they’ve been most impacted by the rising cost of groceries.
“Between the travel points we need to use up and travel vouchers, it’ll be cheaper than a road trip to B.C.,” said Roland. “It does make you look at other options that we normally wouldn’t have.” “As rates have started to go up, we’ve definitely seen demand cool a little bit and we’re starting to see our market stabilize,” said Frances Dares, a real estate broker for Urban Upgrade & Newinfills in Calgary.
“It’s not happening so much now where people are overbidding to the degree that they were, but at some points for a $500,000 home there were people coming in and bidding somewhere close to $700,000,” she said. “That’s unheard of in our market since probably 2006, 2007.”Article content
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