The foreign investors put "all inventory up for sale" narrative is ridiculous, didn't happen in 2009 and won't happen. The reason why these folks have money to divest in out of country real estate is because they know how to invest, and you don't sell when the market is down. Many of these...
Who in their right mind would invest in a rental building with Neilas? http://hirisecapital.com/40-widmer/
It took them like 7 years to build 6 storeys at Cube. Should take them 50 years to build this!
Plenty of developers in Canada have gone Bankrupt or belly up in Canada. Ever heard of Bramalea?
Go ahead and stick your head in the sand and pretend everyone that works in real estate in Canada is rich, if that fits your narrative.
Building high-rise condos is very risky, that is why they make a lot of money. You want to be a Calgary condo developer right now?
Borrow $10-$20 million for land and upfront costs and don't see a dime of profit back for 7 years, not the kind of business I could ever stomach.
The media knows exactly what to write about to get people to read the article: bubbles and foreigners get people's attention. Yawn, read this article for the past 10 years.
Raise interest rates = housing correction because people can't afford their houses anymore and will default.
Lower interest rates = future housing correction because prices rise too quickly, speculators come in and house of cards folds in on itself.
Keep interest rates the same = housing...