Quote:
Originally Posted by Regorium
As long as there are people like polak, and anecdotally, some of my friends who are just waiting for a nice dip in prices to buy in, I'm not worried at all. Pent up demand means that there is a nice cushiony floor to bounce off of, and in the meantime I'll keep taking rent.
However, once those people start changing their tune to "There's nothing left for me in Calgary", that's when I'll start getting really scared.
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How long does oil stay low? If there's no work, all of the transplants will eventually start shuffling back.
It's all dependent on oil prices.
My buddy just took possession of a townhouse that he bought right as oil prices hit bottom (not the brightest). Now his builder is offering those townhouses with a year of no condo fees and upgrades.
It's nice to see the builders start to squirm. Hopefully they get desperate.