I'll get to buy a cheap one, I hope.
If you can snag new units under $400 psf it would be considered cheap or take on original purchase prices of assignments which people bought back in 2004-2006.
ps. Guava has nice charts but I am not sure where they are getting the info from, so I can't take it seriously until they tell me what is their source.
thx.
My investors tell me they are buying for 10-20 years in the future, they want me to find them good and reasonable value to "park" their cash in.
That is interesting. I would be hesitant in viewing a condominium as a 20-year investment. There are so many variables that can not be accounted for, such as:
a) How will the building be run over the next 20 years; and,
b) What will the costs be in twenty years for maintaining the building.
I see investing in a condo for 20 years to be much different than a house / land. Good house / land investments have infinite potentials in the long run, whereas a condo only has three: 1. Live there; 2. Sell it; and 3. Rent it as live or live/work.
Then again, you can always listen to Brad Lamb who says to buy a condo and you will IMMEDIATELY make $40,000 PROFIT (read his article here, and my blog response here).
BJL is the worst (or best, depending on how you see it) self-promoting shill there ever was.
In fact, he's now selling tickets for a lecture scene ... lol ... Canada's version of Tom Wu ...