Sudbury and Nickel Prices - Buy Properties there or Wait?

[Nir]

Hi Everyone,

I wanted to ask what you think about investing/buying in Sudbury now?

Nickel prices are dropping, might impact employment hence vacancy rate(?):

http://www.kitcometals.com/charts/nickel_historical.html

http://www.thesudburystar.com/ArticleDisplay.aspx?e=1242601

What I find a little confusing is deciding whether now is NOT the best time to buy in Sudbury due to the global economy and Nickel prices specifically OR is it actually the best time to be a buyer there because in a buyer`s market you can negotiate significantly better deals(?)

Thanks,
Neil

 

[realfortin]

Hi Neil,

Since you`ve done your due diligence on your properties and the area (which I know you have from our conversations), I would not worry about that article. It represents a tiny fraction of production. Sudbury`s unenmployment rate continues to fall, against the general national trend. Vacancy rates are falling and the average salary vs cost of housing is improving very fast.

Speculators may cause the prices of housing to fall, specially in the spring if there is the expected strike at the big mines. It will present buying opportunities.

The university and two colleges were running ads on the local radio in August begging families with a room that could be rented to consider hosting a student. The rental situation in Sudbury is in our favour regardless of what the prices are doing. Keep looking at the numbers, follow the system and you will pick some winners.

Real