Calgary’s housing boom is imploding. Inventory has surged over 40% year-over-year to 6,661 units, sales are down 17%, and rents have fallen up to 9%. Homes bought for $800K last year sell for $650K today. Net migration is plunging across Alberta and other provinces, exposing the “Alberta is Calling” campaign as hype. With unemployment at 8.4% and prices slipping below inflation, the market’s fast flip shows how quickly a real estate bubble can burst.
Unemployment Surges, Rents Drop—Is This Canada’s Next Housing Bust?
