RE:RE:RE:RE:RE:Second Quarter 2021 ResultsTommy: Right on! With that much human inflow, I can see continued profitability for the ownership of most classes of real estate in Canada - industrial, grocery, apartment in particular. Have now got >30 % of portfolio in various classes of real estate. Even if inflation shoots up - thanks to Turdo's incessant spending - I think that the real estate prices will keep up with inflation and compensate for higher interest rates. Fingers crossed that China doesn't nuke our real estate! I mean literally! Cheers!
Tommy123 wrote: I'd imagine that the 1 million newcomers to Canada every 36 months in perpetuity planned will help support commercial property valuations going forward, considering 80% of those folks will likely settle in the GTA. There's not a lot of opportunity to increase supply there, as it's already fairly dense.
nedstar71 wrote: I've been saying for years they should have put some money into real estate and it would have been a fantastic idea. But that was years ago. Now I'm not sure it makes sense. All properties are insanely overvalued at this point and in my opinion it isn't sustainable. If interest rates ever go up, which at some point they have to, valuations will drop substantially. Also I think office space may get a rude awakening when long term leases are up in a few years. Less space is going to be required with the new normal of working remotely.
Otherwise great earnings report ! This stock should be trading at $3.25 - $3.50 already.