So Don did an interview for a CBC segment called Saskaboom. I’ve never heard of this program, but it’s some interesting perspective. It’s a 14 minute long video.
There’s a quick bit with Dale Ripplinger Vice President of the Canadian Real Estate Association. There’s no date on it, but this one must have been back a while. They mention second-half 2008 forecasts, so I’m guessing it was Q1 or Q2 in the early side.
About 1/3rd of the way in there’s a panel with Don Campbell, and Bob Dhillon from Mainstreet. My notes are below the video. Stick around for the end…Bob kind of sticks his foot in his mouth.
Notes:More than half of new arrivals are from Alberta.
- REITS make up 50% of the latest 50 commercial deals. Pensions/Public Companies were 25% and local buyers 25%.
- Don’s ‘reaction’: 2007 was the first year with positive intra-migration but people are over-reacting to the good news. The pendulum is going to swing back, and there are only about 3/4 of a million workers in the whole province.
- Don had a brainfart and forgot the third of the 3 F’s. Food, fuel…and….. It happens to the best of us.
- Bob Dhillon’s focus on buying buildings with significant deferred maintenance as they’ve got significant cash and prices are pretty low. Sell signal is CAP rates below 4% but they’re not interested in selling.
- The affordability index has made Saskatoon more expensive than Edmonton.
