With the recent news that potash prices could drop by up to 25%, I decided to give Bill Madder a call to discuss how this could potentially affect the Saskatchewan housing market. Bill Madder is the CEO of the Association of Saskatchewan REALTORS® and has 34 years experience in Real Estate.
Here is the conversation Bill and I had on a Google+ Hangout, a reference list, some great quotes from Bill and a Saskatchewan housing market report. Enjoy!
"We have seen some moderation in Saskatchewan, however we are in a strong market, we are up 5% from 2012 and should continue to increase." Bill Madder
"Real Estate statistics should be considered locally...
Just because the overall provincial market is up 5%, doesn't mean that your property is up 5%. You have to break it down by region, city and even neighbourhood." Bill Madder
Re Potash: "I would be a little cautious about going to chicken little right away...
however IF the worst case scenario plays out, it will have a modest effect on our economy. Potash makes up 4.5% of our provincial royalties, Saskatchewan is a pretty diverse economy, we are certainly nowhere near a collapse!" Bill Madder
What are your thoughts? If the price of potash falls considerably, how do you think will this affect the housing market in Saskatchewan? Please comment below!