Quote:
|
Originally Posted by SeeGeeWhy
Check out a book called Sell Now. It is talking about the insane amount real housing prices in north america (and the world, really) have increased in the last 5 years compared to normal, and how it would be smart for many people to take their profits now and rent until things stabilize. It also draws comparisons to what the Japanese housing market was doing before their economy went into deep recession... the results are pretty startling.
It all depends on what you want to do, and what you believe tha market will do.
Will you be able to pay for a house that is at the very limit of your mortgage, even if interest rates increase and the bottom of the market falls out? Both are very possible, many say are inevitable. The last time it happened in Calgary also happened to coincide with a big boom/bust cycle with oil prices.
|
you raise some interesting points...however the Calgary market may be at a different stage right now than the US or Toronto real estate markets
that's not to say that it's never going to bust, of course, but there might be more years of upswing in it yet
anyone else's thoughts??