[sonick]

Originally Posted by Hehe

True. But have you seen the rent increase in commercial properties?

Residential units would command nowhere the rent of commercial.

Usually speaking, in CRE, we focus on the cashflow or the rent that it provides. Maybe CRE doesn't grow faster than RE in bull market, but if one's holding long term, there are a lot of things you can do with the cashflow of rent that you can't otherwise do with residential.

Just one data point but the lease in our downtown Vancouver office is due next year, the landlord has put an offer of reduced and free rent, where the total cost of the 5 year renewal is actually coming out to slightly less than the last 5 years of rent.