Landlord Armageddon in Calgary – is the sky falling?
headlines like these from CBC and other sources definitely make headlines. For the most part landlords are vilified as opportunistic weasels in times when rentals are tight, however 2016 being a complete renters market, things have taken a dramatic shift in Alberta and Saskatchewan. Yes I won’t sugar coat it. It’s downright ugly and a crappy time to be a landlord in the prairies.
The flip side, and especially for me and my investors, is that times like these are small, and have provided the PERFECT time to purchase rentals as landlords read these newspapers and start shitting their pants and hit the sell button. Since 1980 there have been 3 noticeable downturns, each producing a small period in time in which quality buildings were on ‘sale’ for the inevitable bounce back shortly thereafter. In my estimation, the remainder of 2016 and 2017 will be the best buying opportunity in years, and perhaps decades. Be greedy when everyone is fearful, and that time is now.