This dandy gem of a quote is my nomination for positive-spin of the year:
"Sellers can expect to see offers with the conditions that we normally have, such as subject to financing and subject to inspections," said Carolyn Pratt, president of the Edmonton Real Estate Board.I guess Ms. Pratt means to say that a declining market is the norm for Edmonton. Were people really buying properties without inspections? I guess greed does make you stupid.
For anyone interested, this little interactive dandy from CBC demonstrates just how far prices have gone from fundamentals (remember the 150 times rents rule?).