The rule of 72 isn't a theory, it's just math. Make your own estimate of how much your local real estate investment/purchase will gain in value, on average, over a period of time. If you think 3% gains on average, doubling time is 23.5 years. If you predict 10% annual gains on average, doubling time is 7.2 years. All I'm saying is the "10 year doubling" claim of the friend's of the OP implies an average rate of return over 10 years of 7.2% annually.
I have my own opinion about whether 7.2% annual ROR is a realistic assumption for a real estate investment in Calgary, but that's sort of beside the point.
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comfortably numb
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