Has your office/company laid people off? PART 2

[GQBalla]

how much of a discount for property is even feasible right now?

I dont want to lowball too much. I guess the worse thing they can say is no

[Manhattan]

Your realtor, if you have a good one, will let you know if your offer is reasonable.

[403ep3]

Cenovus has apparently let go of some, but there are still more to go in the upcoming months.

[GQBalla]

http://calgaryherald.com/business/re...7b9d45bfbb7001

Condo Sale Prices fell 10 percent.

True i definitely need to find a realtor.

[ExtraSlow]

Originally posted by riander5
CENOVUS IS LAYING OFF 25% ahhhhhhhhh

Originally posted by Manhattan
If market drops 10%, you sell 400K house at a discount of 40K. Buy a 600K house at a 60K discount. The bigger the upgrade the better the deal. The real problem is keeping your job to pay the bigger mortgage.

Great time to upgrade.

[Manhattan]

Keep in mind with low oil price environment the lower housing prices could be here to stay. We're not Toronto or Van so don't expect a bounce back in prices or renters. Would be a good time to upgrade your primary residence not investment props.

[HiTempguy1]

Originally posted by Manhattan
If market drops 10%, you sell 400K house at a discount of 40K. Buy a 600K house at a 60K discount. The bigger the upgrade the better the deal. The real problem is keeping your job to pay the bigger mortgage.

EDIT: At the current pace of staff cuts and not expecting to be hired back it's only a matter of time before we see net migration out of province.

I just can't see 10% drop in prices. During the recession, it was a quick LARGE drop of like 13% and then bounced back quickly. Of course, current prices are something like equal to or higher than they were in 2007/2008, so...

Somebody posted a link to condo prices dropping, and I think a large part of that is due to how pricey downtown realestate became. I'm currently not seeing that trend yet for the inexpensive stuff in the suburbs (but that could change).

As for net negative migration, I doubt it. You have to consider how many people worked in this province who still resided outside of it. Alberta has plenty of opportunities (go look at the job boards, tons of jobs right now, just not necessarily in O&G) for a person to get started. Our cost of living is lower than Ontario and BC, so why not still come to Alberta?

[Tik-Tok]

I made a new thread/poll, just for curiosities sake.

[finboy]

Originally posted by Manhattan
At the current pace of staff cuts and not expecting to be hired back it's only a matter of time before we see net migration out of province.

About time

[gkAeris]

Originally posted by 403ep3
Cenovus has apparently let go of some, but there are still more to go in the upcoming months.

anybody know what departments the layoffs were and what numbers?

[johnlennon]

I am thinking of listing my place, take a slight hit, rent some single bedroom for 500$ a month then sweep on in and MAYBE be able to buy a house not in the ghetto for 350,000 .

[flipstah]

What's I miss? Holy shit.