Quote:
Originally Posted by firebug
People are all worried about paying $500k for a home that was $250 3 years ago in Calgary, but are now dropping $250K for a home that was $110k 2 years ago in Regina.
When/if the bust comes, do you want to be stuck in a home you paid too much for in Regina, or stuck in Calgary?
Best regards,
Bug
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Not really true at all...
Many folks are moving into big homes that are brand spanking new in Regina / Saskatoon for $350K - and doing it mortgage free based on the profit they got from their home in Calgary. The Regina / Saskatoon markets are really starting to boom now (well, last year maybe but this spring has been crazy) - get in a watch you're equity grow. Cuz that house that's worth $250K in Regina or Saskatoon now will not lose it's value - it will when it hits $400K, but definately won't now.
And I would underestimate this by any stretch - for most of them, they're just moving home.