Quote:
Originally Posted by 240glt
^ It'll be curious to see what the market will bear... I, like others, do believe that there's been a lack of new product in central areas in this city for some time, now with Pearl, Corner 1, Ultima, Fox 1, and perhaps one or two more happening very soon it appears that the market is finally reacting, as we really didn't even see this type of activity or quality of product in the last boom cycle.
I found out the other day that one of our contractors pre-purchased three units in Ultima as investment properties. I am curious to see what the ratio is of owner occupants vs. inverstors are buying in.
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I know it's one of those first hand stories that may or may not show a trend....but My Gf's uncle just bought a place downtown, her other uncle is currently looking and her parents are now looking as well...All approaching their 60's and all looking at selling their houses in the city for something easier to maintain as they all have vacation properties out of town and last of their kids are preparing to move out. I really do believe that we have reached the tipping point where people like this who have spent all their adult lives in affleuent suburban neighbourhoods see the benefits of such a lifestyle. I wouldn't be surprised if we start to see the kind of massive change calgary went through 2006-2008.