Quote:
Originally Posted by blankall
The problems in Vancouver and Toronto are going to have a trickle down effect into all the other cities. A portion of the people who can't live in Vancouver or Toronto are going to buy housing in Calgary. Your even going to start seeing foreign investment in Calgary.
Basically, don't expect housing prices in desirable areas in Calgary to drop, just because wages and the economy have. The external factors in Canada are too great now.
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On the other side, if you see a bubble burst in Toronto, the spill-over effect will have a negative impact on Calgary.
As for foreign investment, we know it is driving up certain high-value neighbourhoods, and now we know for absolute certain that a lot of this value was driven by dirty money.