My neighbour went out and bought 10 houses within 2 months of 9-11. Housing prices dipped, so he mortgaged his exising house, cashed in his retirement funds, and bought up a bunch of real estate.
The guy is a multi millionaire now......
As far as the real estate market goes, I believe we're still behind Vancouver and Toronto as far as avg home prices go, and from what I understand our economy is still further ahead than BC and Ontario (per capita). Yes, it is oil based but unless the price of oil suddenly drops to $20/bbl I can't see it bursting anytime soon. Unless of course there is a sudden surge of property sales that flood the market, but as it sits I see no reason that something like that would happen.
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