The rapid plunge in oil prices has certainly been a shock to many and has fueled the media with lots of speculative talk. But there is a good chance it could be all overblown. While one Saudi prince has predicted we’ll never again see $100per barrel oil, Moody’s has predicted it could return to close to that by the end of 2015.
Still, in the short term the media tends to fuel frenzy. Panic can set in and investors and individuals that aren’t looking at the big picture can make rash moves. This certainly could mean that some in the luxury housing market may hold off on buying and may be motivated to sell instead.
Certain destinations will definitely benefit more from these trends and movements than others, especially those which are more affordable like Edmonton, Alberta. No matter which direction oil prices go later this year and beyond, it appears there is very attractive window for Canadian investors to acquire in other property investments right now.