Saturday, July 7, 2007

Weekend Open Thread

Some thoughts on this bright Saturday morning:
  • Interest rates almost certain to go up. How high will they go is anyone's guess but I'm pretty sure none of the 'landlords' looking for a quick flip will appreciate the increase in carrying costs even by a few hundred dollars a month. It's certain to make affordability more of an issue. But it might be counter balanced by a fall in prices.
  • There's an open house of the distressed property today between 2 and 4 pm. So if you have any offers, this might be the time. I'm posting this again as there might be a sweet spot between the $100k- $125k most bears would pay and around $250 k that is the current asking price. Perhaps someone will see some value at $170k.
  • How often have you heard the line, "But prices in our city have been depressed for so long that they are only catching up now." I have seen some long term tenants living in our building buy run down shacks on Alberta Avenue and regurgitating this inane line of reasoning. I guess now it is Moose Jaw's turn to stake a claim on 'depressed for too long' line. Honey, if prices in Moose Jaw are less, they are for a reason. The whole world doesn't want to live there and you don't have oil sands. Or beaches. Or mountains. And you are about ten times smaller than Saskatoon. And just to put this into perspective, ignoring the exchange rate calculations, Moose Jaw is now more expensive than Houston and Dallas. And yes, there is no bubble in Canada and they are running out of land in Moose Jaw. Wow!
  • Finally, please be civil in your posts. There's no point of personal attacks-they don't add any value and diminish the overall reading experience. Offer something valuable to the readers.
Have a great weekend everyone!
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