How are we different Slava?
What major changes happened in Toronto and Vancouver that did not happen in Calgary in the last 6 months? Why them, but not us here? Why did we crash in the past? Same rules, no?
Did they lose jobs there? Did immigration stop? We are a small town compared to Tor and Van, they should be able to weather the storm better that us here. Yet, here we are.
There are plenty of similarities between the three though:
cheap credit?- check
loose lending standards? - check
RE experiencing unreal growth in the last few years? - check
speculation and greed driving the market? - check
I don't think we are that different here. The very small inventory that we have had here lately is the only saving grace, but once things move again all bets are off.
|