Quote:
Originally Posted by lorenavedon
when was the last time housing in Calgary took a hit that actually lasted? early 90s? Nobody has time for 30 year swings. Life is short. 08 was meaningless. It was a V bottom. We're at record highs in equities and rates are going nowhere. If you're waiting for rates to go up and for deflation to hit the housing sector, you could be waiting decades. By then it won't matter what you paid now. Population of planet earth is going up exponentially and people need a place to live. To the average person not born into privilege, Canada looks like a pretty awesome place with tons of space for everyone and great social programs. So I don't see any scenario where prices are going to come down.
Saying things like "this house had a 50k price drop"; is meaningless. Odds are that even with a 50k price drop it's way higher than what it would have sold for last year in the hottest market Calgary's ever seen. Nobody is selling for less than last year. Prices have zero chance of ever going back to 2009-2010 levels.
If you think so, please, with logic and reason and arguments, tell me how I'm wrong.
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You make a lot of assertions here:
- no scenario where Calgary prices are coming down
- nobody in Calgary selling for less than last year
- zero chance of Calgary prices going back to 2009-2010 levels
Using logic and reason and maybe even some data can you defend any of these claims?
Arguments such as "equities are at an all time high" and "the underprivileged would like to move to Canada (not Calgary) for our great social programs" don't justify your position. Quite frankly, they undermine it.