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Originally Posted by Claeren
You already asked this question and I already answered it.
Posts 1363 and 1365.
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Sorry, missed that.
I don't agree Japan was in as good a situation as you wrote, and I think there issues are due to many factors Canada doesn't seem to have right now or in the forecasted future.
That's not to say housing declines can't happen here, just if they do Canada will have to see our own economic reasons for it and we don't mimic Japan.
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And I want to reemphasize that I am not saying it is all domo and gloom, what I am arguing is that there is very little upside to the market. And since rents are substantially below carrying costs it makes far more sense to rent than buy until fundamentals significantly change - which may not happen for 5 or 10 years (or much longer).
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I don't think we're gonna see the upsides we've seen in Calgary before, but I wouldn't be surprised if Calgarians get excited when oil prices come up and Calgary starts booming again in the business sector/immigration in.
If Calgarians income remains highest in the Country and Calgary leads the country in good economic growth, I can't personally see major declines in RE values.
I think a short term (2-4 years) buy and sell of the right properties at the right times can still make a good investment if the timing is right. And losses if your timing is off.
And to be very clear: this is my personal thinking as an investor, not advice I try to give clients as a Realtor.
That's not my job