Quote:
Originally Posted by Danijam
Does anyone follow Tom Stanley? He was a coauthor of The Millionaire Next Door, which came out in 1996. In the book he makes the argument that the millionaire actually probably lives next door to you, rather than in the big house in the fancy neighbourhood. Once they are in the fancy house, people end up amassing consumer debt to fit the image of the house they bought – cars, clothes, furniture, etc.... There seems to have been some of this in Calgary during the boom of mid-2000s so my guess is that we’ll see a glut of pricier homes hit the market while sales of homes in the lower to middle price ranges will stay strong.
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Actually as the market has slowed down this year, it's the high end, luxery homes that have been selling the best.