Quote:
Originally Posted by ExiledFlamesFan
Rent has been sky high because so many people are moving to Calgary to work. Rent will significantly drop if oil decreases and less people are moving to the city or more people are going back to where they came from.
As a born and raised Calgarian I have seen the highs and lows of our petro based economy. In the long term I expect Calgary to continue to prosper but it is naive to think that there will not be ups and downs with the volatility of oil.
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Sorry, I forgot to mention I was talking about the time between 6-8 months. Not long term forecast or comparing overall rent and prices to the price of oil.
November - February is a good time to buy before activity picks up again. You said you were looking for property soon, right?