Quote:
Originally Posted by fotze
Lanny, how isa the real estate in Phoenix, I heard it is a little depressed. Screw buying electronics and crap, buy some real estate. Lets get 10 people together and buy a nicre vaction place in Hawaii.
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It's depressed all right. You can pick up stuff at a song right now. I'm trying to convince my sibblings to take advantage of the high Canadian buck, the over-priced Calgary market and the depressed Phoenix market and make a killing. Seriously, you could take the equity that is in the houses in Calgary, buy a home down here, and just wait for the corrections in the currencies and the Phoenix market. Imagine grabbing a house for $250K USD, that 15 months ago was selling for $450K, and getting it at par in CDN dollars? If the markets adjust as projected (after the election), and the Canadian buck drops back to 80-85 cents (as the manufacturing sector desires), and the Phoenix market rebounds the 25% expected in the next year (people are still moving here in droves) you could see a substantial return on your investment. The House value would rebound to ~$315K and the value in CDN dollars would be closer to $360-380K. Lots of speculation, but opportunity knocks for Canucks IMO.