Re: I'm LEAVING Alberta !!!!Apr 15th, 2007
Why do they have to stay there? I know a guy who sold in Alberta, moved to Vancouver Island and flies back to work 2 weeks on 1 week off. Rents with some buddies when there. Has lots of cash in the bank and is growing it.
Your choices are much better when your assets are worth alot. If someone does not wish to take advantage of good fortune that's ok too. Like you said, it's all relative when you're there.
I know many people are taking advantage of the situation by buying an extra house and selling it a few months later. There isn't even a need to 'flip' a house anymore. My cousin and his wife have used the market to their advantage. They've sold their house, gotten out of debt, moved in with his parents, and put a hefty down payment on a new home each time. I'd do that just to get out of debt, but then there's still the question of where to live amidst the housing crisis.
As for the overinflated prices, I think many people are far ahead if
1) They were able to find something around or less than $250k, or
2) They're able to make mortgage payments if the bubble bursts.