Quote:
Originally Posted by Wookie
Maybe the factor that will change is the value of money? Maybe instead of falling house prices we'll have quite a bit of inflation and other things will catch up
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I think this (value of money, inflation, etc) is more important when you look at energy prices.
No matter what the rest of Canadian (or American) real estate market does over the next 1-2-5-10 years, Calgary will be different because of oil and gas pricing.
Oil (not gold) is the new inflation hedge on the American dollar, and so there are a lot of scenarios where most of North America is screwed while Calgary would be supported (falsely, no actual demand fundamentals) by inflated oil pricing.
Which leaves a scenario further into the future where oil prices finally collapse, helping the rest of North America recover but hurting Calgary big time.
With the wild card being Natural Gas prices.
I think there is little denying that there is not much UPSIDE in Calgary real estate anymore. The big question in my mind is whether there is down side.... I think there is, and I think baby boomers here are going to be in the exact same situation they were in Japan 15 years ago (self inflated demographic bubble doomed to collapse), but that's me....
Claeren.