Last Thursday the Urban Development Institute held its Annual General Meeting and Bob Rennie was the guest speaker once again.
In the buildup to the talk, there was quite a bit of joking going around at the tables "I am sure that Bob will be positive even with what we have seen in this market" and things of that nature.
When Bob was officially introduced, there was even a chuckle in the room as it was said "and I am sure Bob will somehow be positive."
Let me tell you. Bob turned the skeptics in the room around really quickly! Using numbers gathered from an independent source, Rennie dove right into an hour long talk on many issues, but the key to it all was really how little supply there is.
Bob was careful to separate the village of "downtown" from the suburbs, giving a hint that he, like myself, realizes that there is potential for some further downward pressure in the burbs where values must be supported by local incomes.
An amazing time was had, and Bob Rennie, who I have known for years and consider to be a friend did an excellent job.