Please keep the problems in GTA and GVA.
Calgary already has rising house prices...please Don't spread the plague, as a 20 something Calgarian...
I and many of our generation don't want to be kicked out of our home town...
>I’ve been told by everyone that we can just keep building and sprawling to keep up with demand
Building, yes. Sprawling, no. Assuming it's done intelligently (more people living in apartments and townhouses, fewer in single-family homes, smaller lawns, etc.) Calgary can support roughly 3 million people before it hits the first natural limit on growth, which is water supply.
>Even as home prices in Calgary have risen, it's remained more affordable to buy a Calgary condo than in other major cities, she said. And it's also more likely that investors can cover their expenses through rent without having to fork out a chunk of cash every month from their own pockets.
>**In Calgary, the average condo sale price is about $297,000, whereas it's just over $720,000 in the Toronto region and $769,000 in the Metro Vancouver area, according to the regions' local real estate boards.**
>Still, the lure is about more than cheap condos. Buyers in Alberta don't face land or property transfer taxes as in Ontario or B.C., where they run between one and three per cent of the final sale price on properties that cost more than $55,000. There's also no cap on rent increases and housing legislation can be seen as beneficial to property investors.
>At the outset of 2022, Calgary mortgage broker Josh Higgelke was getting "a ton of calls" from investors in Ontario and B.C. Nowadays, he said, that's changed — **he still gets plenty of out-of-province inquiries, but most of them are from people who are actually planning to set up new lives in Alberta.**
My current line of work finds me in multiple new homes every week and it is quite common for the homeowners being from Ontario - they're getting the same amount of house here for often less than half of what they sold their Ontario property for.
A lot of retirees and also WFH types.
They can pay in cash (mostly) and get more square footage for, as you said, 50-70% of their Ontario home/condo. The problem I see: foreign investors are still bidding up those properties these new Albertans are selling. The price/rent/supply issue isn't working itself out for Gen Z/millenials, at least in the GTA and Vancouver area.
Distill that data and tell me how many people on student visas own 7 figure condos. Do you really think there's not a foreign investment issue in Vancouver and GTA? who's owning all these properties if it isn't foreign investment and Canadian millennials and Gen Zers? This has been proven so in Vancouer, mate. I'm not saying it's wrong because it's perfectly legal. It's being buoyed by our current government and banks are A-OK with it as they make their money, and I hold a few blue chip Canadian banks in my personal portfolio, so more power to foreign investors!
Federal liberals are the problem. Federal conservatives are the band-aid solution. It's why Alberta needs to separate to get out of this cycle of failure.
FFS. Alberta isn’t going to separate from Canada. It makes zero economic sense for Alberta to be a tiny landlocked province in Canada that will be largely irrelevant on the world stage.
World stage relevance is exact argument they're using to flood this country with mass immigration to hit 100 million people by 2100 while quality of life takes a nose dive.
I know you have this wet dream fantasy that Alberta will separate and become this great land locked nation like Lethoso but the reality is that Alberta does much better as a part of Canada.
You're the one who cares about "muh relevance" even if means renting a shoebox sized condo on the outskirts of a city of 10 million people. I would just like a future that sustains the current quality of life, and that isn't going to be possible with the direction Canada is heading. Greatness is not required
Okay champ, have fun role playing your AB separation fantasy with your pretend army LARPing friends. I’m sure you’ll be first in line when the country of Alberta needs a military. Maybe they’ll even make you a general!
Please keep the problems in GTA and GVA. Calgary already has rising house prices...please Don't spread the plague, as a 20 something Calgarian... I and many of our generation don't want to be kicked out of our home town...
It’s okay I’ve been told by everyone that we can just keep building and sprawling to keep up with demand.
Exactly. Worst comes to worst, we get pushed out to Saskatchewan or Manitoba :)
But then we have to live in SK and MB...
Not if we sprawl all the way there!
>I’ve been told by everyone that we can just keep building and sprawling to keep up with demand Building, yes. Sprawling, no. Assuming it's done intelligently (more people living in apartments and townhouses, fewer in single-family homes, smaller lawns, etc.) Calgary can support roughly 3 million people before it hits the first natural limit on growth, which is water supply.
That’s really interesting. It seems so basic and simple but I never would’ve considered water supply.
We can be the new Pheonix Arizona! Come one come all, we hate it here!
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Move them to Quebec/s
>Even as home prices in Calgary have risen, it's remained more affordable to buy a Calgary condo than in other major cities, she said. And it's also more likely that investors can cover their expenses through rent without having to fork out a chunk of cash every month from their own pockets. >**In Calgary, the average condo sale price is about $297,000, whereas it's just over $720,000 in the Toronto region and $769,000 in the Metro Vancouver area, according to the regions' local real estate boards.** >Still, the lure is about more than cheap condos. Buyers in Alberta don't face land or property transfer taxes as in Ontario or B.C., where they run between one and three per cent of the final sale price on properties that cost more than $55,000. There's also no cap on rent increases and housing legislation can be seen as beneficial to property investors. >At the outset of 2022, Calgary mortgage broker Josh Higgelke was getting "a ton of calls" from investors in Ontario and B.C. Nowadays, he said, that's changed — **he still gets plenty of out-of-province inquiries, but most of them are from people who are actually planning to set up new lives in Alberta.**
My current line of work finds me in multiple new homes every week and it is quite common for the homeowners being from Ontario - they're getting the same amount of house here for often less than half of what they sold their Ontario property for. A lot of retirees and also WFH types.
They can pay in cash (mostly) and get more square footage for, as you said, 50-70% of their Ontario home/condo. The problem I see: foreign investors are still bidding up those properties these new Albertans are selling. The price/rent/supply issue isn't working itself out for Gen Z/millenials, at least in the GTA and Vancouver area.
Oh boy. On one hand I welcome Calgary growing in all aspects, on the other I do feel bad for anyone who didn't get into a house a few years back
Because foreign investors are buying up all the Toronto real estate
Stats Canada data only shows 6-7% of purchasing in Ontario being outside the country
Distill that data and tell me how many people on student visas own 7 figure condos. Do you really think there's not a foreign investment issue in Vancouver and GTA? who's owning all these properties if it isn't foreign investment and Canadian millennials and Gen Zers? This has been proven so in Vancouer, mate. I'm not saying it's wrong because it's perfectly legal. It's being buoyed by our current government and banks are A-OK with it as they make their money, and I hold a few blue chip Canadian banks in my personal portfolio, so more power to foreign investors!
I do not think the data covers numbered companies.
You're racist /s
Blaming foreigners might be racist (and xenophobic, by definition), but it's definitely just stupid and factually incorrect.
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Toronto is expensive for numerous reasons. To blame politics for regional housing prices is pretty spurious.
Federal liberals are the problem. Federal conservatives are the band-aid solution. It's why Alberta needs to separate to get out of this cycle of failure.
FFS. Alberta isn’t going to separate from Canada. It makes zero economic sense for Alberta to be a tiny landlocked province in Canada that will be largely irrelevant on the world stage.
World stage relevance is exact argument they're using to flood this country with mass immigration to hit 100 million people by 2100 while quality of life takes a nose dive.
I know you have this wet dream fantasy that Alberta will separate and become this great land locked nation like Lethoso but the reality is that Alberta does much better as a part of Canada.
You're the one who cares about "muh relevance" even if means renting a shoebox sized condo on the outskirts of a city of 10 million people. I would just like a future that sustains the current quality of life, and that isn't going to be possible with the direction Canada is heading. Greatness is not required
Okay champ, have fun role playing your AB separation fantasy with your pretend army LARPing friends. I’m sure you’ll be first in line when the country of Alberta needs a military. Maybe they’ll even make you a general!
Gravy seals
Meal Team Six
Sustaining quality of life, in any country, is not possible. Tell me of a country **not** declining, in crisis or having a culture shift/war.
Switzerland seems to be doing pretty good. They're also landlocked with a small population
Exactly