Real Estate Dropping

I recieved this note; had an MLS printout that will take me too long to format to get onto the blog. A reader can surf Calgary MLS listings for themselves to see what is happening:

Check out the verbiage in the first and fifth listings. Oilpatch recession is now hitting home in real estate in my neighbourhood - the $599k listing originally hit the market in the early summer at about $750k, and like most of the rest of the listings, it just isn't selling - now sellers are getting desperate, and hunting for buyers at much lower prices. If Stelmach does what I expect, just wait for the slaughter.