Heard This Song Before
I have heard this song before “missing the boat is the single biggest fear for real estate investors.” Is it too late? I lived through 1988-1993 real estate meltdown. It was catastrophic. At the peak, condos sold for $200 per square foot in 1989. They dropped to $100 per square foot by 1991. Everyone thought they missed the boat. Now 29 years later at $1,100 per square foot buying at the $200 per square foot peak looks pretty smart. I am not advocating for buying at a peak. I just don’t believe anyone, including myself, can predict the short-term future. We can however be sure that the world’s population will grow, as will Toronto’s population. Over a 10 to 30 year span everyone will do well in real estate. Invest for the long term and don’t sweat the short-term gyrations. Rob Carrick is wrong here, as usual. He has a constant, clear, anti-real estate bias.
‘I’m surrounded by friends urging us to get into real estate investing’ | The Globe and Mail