I'm LEAVING Alberta !!!!


vice
#31
Quote: Originally Posted by Kreskin View Post

Why do they have to stay there? I know a guy who sold in Alberta, moved to Vancouver Island and flies back to work 2 weeks on 1 week off. Rents with some buddies when there. Has lots of cash in the bank and is growing it.

Your choices are much better when your assets are worth alot. If someone does not wish to take advantage of good fortune that's ok too. Like you said, it's all relative when you're there.

I can see that working for a single guy, but what if you have a wife and kids? And what if you don't have the luxury of flying in 2 weeks and taking 1 week off?

I know many people are taking advantage of the situation by buying an extra house and selling it a few months later. There isn't even a need to 'flip' a house anymore. My cousin and his wife have used the market to their advantage. They've sold their house, gotten out of debt, moved in with his parents, and put a hefty down payment on a new home each time. I'd do that just to get out of debt, but then there's still the question of where to live amidst the housing crisis.

As for the overinflated prices, I think many people are far ahead if
1) They were able to find something around or less than $250k, or
2) They're able to make mortgage payments if the bubble bursts.
 
Kreskin
#32
Everyone is different. Some people focus on financial benefits, and are prepared to accept massive personal change to get it. Others want to maintain the status quo in the home for any number of reasons. Everyone has different responsibilities, timetables, and circumstances in their work. Until you peel away the onion and see what opportunities are there and what people are willing to do to achieve them, or reluctant to, it's hard to paint a picture with one brush.
 
DoubleWitt
#33
Moving away from Alberta, that's too bad. But guess what...?! I kinda feel the same way about leaving Montreal, Quebec. Rents are still somewhat reasonable because they are "controlled" by the gov. On the other hand, though, groups here are "pressuring" the gov to withdraw from publishing "limits" for raising rents. What does that mean if they succeed? No doubt, rents will be similar to any other province like Alberta, BC, and so on...

Though rental fees are somewhat reasonable here, generally, people find things difficult as everything goes up except the fabulous paycheck...! Imagine if there is no-more-limit for raising the rent...! Behold the new Alberta! And that's apart from being the worst taxed area in all of North America...! Good grief, where are we headed...?!

Where is the eject button to leave Quebec? I might land in the USA
 
hermanntrude
#34
prices go up. sometimes they go up fast.

If you guys want to see overprices property you need to look outside canada. The housing boom in alberta is large but not unheard of. My parents house in london was bought in the 70's for £7000 and sold for £89,000 twenty years later. their next house was bought for £120,000 and is now worth probably 250 or 300,000
 
L Gilbert
#35
Quote: Originally Posted by Fingertrouble View Post

The boom has affected all of Alberta and if anything the cost of living is even higher in Calgary (all the major Oil/Gas companies have their Canadian head offices in Calgary). House prices are overinflated (even worse that Edmonton), but with all due respect from those who live in Edmonton (for it's a great place too), I would rather live in Calgary any day. We have the mountains (only 1 hour away), a very cosmopolitan city if you are into that (while also having western cowboy roots...and the Stampede!), the sun invariably shines (even when it's -20!) and we get "chinooks" (a SW wind that can bring winter temperatures from -20 to +10 in just an hour or two).
I could be "slightly" biased as I live here (born in England though!).

....... and Calgary is way easier to find your way around in than Edmonchuk.
 
hermanntrude
#36
I've always found edmonton very easy. there's only one set of numbers so you can just think to yoursefl well i'm at 50th ave and i need to be at 100th ave, so i need to go north... which buses go north?
 
L Gilbert
#37
1989 I bought this chunk of acreage for $75K and could probably sell it now for $300K, but I don't think we will. Even though property taxes keep going up (because folks do sell to whinies from the coast who build humongous houses and then sit around with their house echoing "we should have a Canadian Tire store closer than an hour away"), we manage pretty well. Come time to sell & move we'll probably rent some small 2 bedroom outfit somewhere and live on interest + pensions.
 
DoubleWitt
#38
Houses are getting "extremely" expensive here also... ofcourse, and they say: It's a good market for selling - "a seller's marketing advantage". Yeah, OK, but when you sell, you are faced with a serious dilemma for purchasing a new super "expensive" home... and it has gotten to such a point that it just doesn't make sense anymore. You could easily pay between 150 and 200,000.00 for a small shack! - and you know it's not worth it . It's certainly not a buyer's market.

What's this world coming to?
Housing, food, and clothing are basic essentials and they should always be as cheap as possible...something is wrong with our gov's, certainly...they're messing things up pretty bad for the people...
 
hermanntrude
#39
houses are worth what people will pay for them. If people badly want a house they'll pay hundreds of thousands for them. Move to nunavut, see how much a house costs there.
 
DoubleWitt
#40
...everyone "badly" wants a home, I guess, and so you don't have much choice because that's the set up. And set up by who...???

The gov...!

Who else can be held responsible?

You end up with a home by using the available means, ofcourse. But, does the end justify the means?
 
hermanntrude
#41
I dont think you can blame the government for prices of housing. Maybe I'm wrong, but they can't have a lot of influence over such market forces as most of newfoundland moving to edmonton
 
karrie
#42
We've been transferred and will make the move to Edmonton in exactly one month. Yikes! And no, the gov can't be blamed because business decides Edmonton is a good hub to base out of. People found Calgary too whopping expensive, so business started looking for ner opportunities, and BAM, Edmonton ends up crazy busy. If you think 150-200 000 would get you a shack in Edmonton, you'd have another thing coming. If you want a crack den on a street full of hookers, you MIGHT be able to swing it for that kind of money. But below 280 000, that's pretty much all hubby and I could find. We settled for a shack (or what feels like one to us as a family of four) 1000 sq ft, needing to be gutted and redone, for the low low price of 316 000. Fun stuff.
 
DoubleWitt
#43
I think the gov should assume control, it's only sensible as things get out-of-control...we need a gov that has some backbone...! The gov's should be regulating these issues - or somebody else will... or rather, the "dollar" sign will rule instead of the gov... In my opinion, that's not much of a government to speak of...how can you get Canadian people to become patriotic when they can plainly see that the gov just doesn't care about the quality of life for the people...?
 
hermanntrude
#44
A government with control over capitalism? hmm interesting.
 
karrie
#45
Quote: Originally Posted by DoubleWitt View Post

I think the gov should assume control, it's only sensible as things get out-of-control...we need a gov that has some backbone...! The gov's should be regulating these issues - or somebody else will... or rather, the "dollar" sign will rule instead of the gov...

So you think the government should step in and stop a market boom? Ha! That's absurd.
"Oh no, our economy is too healthy, we have to do something!!"
Markets are generally sef regulating, and for those people living within an economy who can't keep up, the gov has housing and welfare programs. While it stings to pay such huge cash for a home, I'd much rather that than have the gov step in and regulate it. Having sold my place here, I'd be PISSED if the gov decided to put a cap on how much profit I could turn, and I turned a hefty one.
 
DoubleWitt
#46
Well, they're controlling "RENTS" here in Quebec, and they can do more... but, do they care...? And we're always complaining about the fact that Canadians are not patriotic... however, there's nothing wrong about complaining. Anyways, this is quite an issue, and on the other hand, the gov makes money - but do they make it so that "it" rules instead of them...?

I understand how one can be "pissed" about control, but how about the other that suffers abuse? I guess, there has to be a balance in all things. Is that too absurd to understand? Would you buy a pair of pants for the price of a Mercedes-Benz...? Does that make any sense? Is an economy "healthy" when people (in general) can't afford to live sensibly? Is it "healthy" to buy pants for that price? I know that might sound like a crazy comparison, but the so-called booming economies can bring lots of trouble...
 
karrie
#47
Quote: Originally Posted by DoubleWitt View Post

Well, they're controlling "RENTS" here in Quebec, and they can do more... but, do they care...? And we're always complaining about the fact that Canadians are not patriotic... however, there's nothing wrong about complaining. Anyways, this is quite an issue, and on the other hand, the gov makes money - but do they make it so that "it" rules instead of them...?

I understand how one can be "pissed" about control, but how about the other that suffers abuse? I guess, there has to be a balance in all things. Is that too absurd to understand? Would you buy a pair of pants for the price of a Mercedes-Benz...? Does that make any sense? Is an economy "healthy" when people (in general) can't afford to live sensibly? Is it "healthy" to buy pants for that price? I know that might sound like a crazy comparison, but the so-called booming economies can bring lots of trouble...

What are "RENTS"? The quotations would imply it's slang for something, yet it seems you're talking about conventional rent. I'm confused.

And no, economies are generally self correcting, so I don't think the government needs to step in. If a person can't afford a house (why switch to pants when we're discussing housing?), then they don't buy it. If enough people can't afford the houses, then no one's buying, and the prices come down. But what's happening in Edmonton right now is that the wages and salaries being paid by the majority of companies are high enough that people CAN afford the houses. So they sell. Why would the government need to step in on that? If people can't afford it, they honestly don't have to move there.
 
DoubleWitt
#48
Well, "rents" are for apartments and the example for "pants" was simply conveying a tiny message... when you buy something, then that product has a "value". If it's worth $100, then why should I pay $2000.00? Wouldn't you say, that's a steal...?! Even with control, a sensible "range" of profit can be made. My concern is for all, not just my personal "profits" per sale of my home.

Anyways, that's just my opinion. I think that "people" should play a role in our society and be concerned for one another. Everybody is out for the best "buck". I guess that will never change... no doubt.
 
hermanntrude
#49
if YOU think it's worth $100, you shouldn't pay any more. But OTHER people feel it's worth $2000, so it's worth that. Supply and demand.
 
Kreskin
#50
Quote: Originally Posted by DoubleWitt View Post

Well, "rents" are for apartments and the example for "pants" was simply conveying a tiny message... when you buy something, then that product has a "value". If it's worth $100, then why should I pay $2000.00? Wouldn't you say, that's a steal...?! Even with control, a sensible "range" of profit can be made. My concern is for all, not just my personal "profits" per sale of my home.

Anyways, that's just my opinion. I think that "people" should play a role in our society and be concerned for one another. Everybody is out for the best "buck". I guess that will never change... no doubt.

People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it.
 
karrie
#51
Quote: Originally Posted by DoubleWitt View Post

Well, "rents" are for apartments and the example for "pants" was simply conveying a tiny message... when you buy something, then that product has a "value". If it's worth $100, then why should I pay $2000.00? Wouldn't you say, that's a steal...?! Even with control, a sensible "range" of profit can be made. My concern is for all, not just my personal "profits" per sale of my home.

Anyways, that's just my opinion. I think that "people" should play a role in our society and be concerned for one another. Everybody is out for the best "buck". I guess that will never change... no doubt.

It's pretty simple economics. I don't pay $100 for pants, because I don't think any pants are worth $100. I don't go to high end stores, I shop cheap stores like Wal-Mart, Old Navy, and *gasp* Salvation Army. I don't feel clothes are worth what some people pay for them. So I choose not to pay that. I'm not about to get my panties in a bunch because I can't or won't pay what some other do for simple pants.

If I was unwilling or unable to pay 316 000 for a fixer upper in Edmonton, I wouldn't move there. I'd find somewhere else, something else. If Edmonton was the only choice, or if houses were the same price everywhere else, then the pay drawing me to Edmonton would reflect that. As it does now for the vast majority of people. *shrugs* It's not a matter of not caring for your fellow human, it's knowing that they are capable of thinking for themselves, and if they can't afford to live in Edmonton, then they shouldn't. Or, they can seek out a government program to help them out, because I pay a lot in taxes, to fund a plethora of social programs.
 
DoubleWitt
#52
Quote:
"People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it."

Well, deflation is coming... on way or another - and what happens when you've paid $600 thousand for your new home and it deflates to $100,000? Somebody will stick a pin in your balloon one day - it's coming...through rent controls or something else... that's basically the core to what I was saying in the beginning. One day, people who made these investments will eventually lose... so is there anything sensible in it afterall? There is much "risk" involved when you purchase a house today.

Even though there are rent controls here in Quebec, the cost for buying homes just keeps soaring... it's insane...
 
DoubleWitt
#53
Quote: Originally Posted by Jsan View Post

I have had it with living in this province. I was born in Edmonton, have lived here most of my life and had no intentions of leaving....until now. It has become so ridiculously expensive to live here I see no future for myself in this city. My rent has gone up 3 times in the last year and just a couple of days ago I just received a notice that it is going up again. This is an apartment that normally costs 650 dollars a month and is now well over 1000 dollars a month and climbing. We have no rent control in this Province so there will be no end to the rent increases. Why? because allot of people have no choice, no money saved so they cannot take on an expensive move to a cheaper province so at 0% vacancy most lanlords know they can charge whatever they want. At the same time housing is beyond insane, where my parents house (1100 sqft 50 yr old very average not fancy bungalow) was worth 160k a few years ago it is now worth 450k. I wouldn't even consider purchasing a house in Edmonton at those prices because this is Edmonton, prices that double in one year can also very easily lose that same amount in one year, it has happened before in the past with devastating financial implications to families. A recent poll done showed that 70% of Albertans have not only not seen any benefit from the current boom but consider it a negative impact on their lives . The other 30% are probably fast food workers who have seen their wages go fro 7 dollars an hour to 10 or 11 dollars an hour. My wage (high tech field) has not budged as have most other peoples wages. they remain stagnant while prices and cost of living soars. Yea, this is what we refer to as the Alberta Advantage? That term was coined by the few big wigs in the oil industry who have benefited from this boom!

Keeping the original post in mind...
Maybe, the best thing is to hang on to what you've got! The reason is, the banks still have the "same" criterion for accepting mortgage-loan applications. Ex: requires a certain salary range for a certain dollar range purchase for a home. What I was able to "afford" yesterday no longer applies today. I simply will not be able to make ends meet.

Ofcourse, those who can "afford" to make a choice thereafter, can move on and acquire a new ridiculously expensive home. I just don't see any personal satisfaction in paying that kind of money for a home, even if I can "afford" it. The whole "point" in this discussion, as far as I understand, is that the entire affair is directly related to your paycheck experience. This situation definately has a negative impact on the greater part of the population. Ofcourse, the wealthy will have their point of view.

For the enthused capitalists, they see no limit - because it's to "their" advantage. But they fail to realize that there is an "abuse" of capitalist opportunity... for those who want to abuse, - the sky is the limit... where there is no control, there is corruption.
 
Kreskin
#54
Quote: Originally Posted by DoubleWitt View Post

Quote:
"People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it."

Well, deflation is coming... on way or another - and what happens when you've paid $600 thousand for your new home and it deflates to $100,000? Somebody will stick a pin in your balloon one day - it's coming...through rent controls or something else... that's basically the core to what I was saying in the beginning. One day, people who made these investments will eventually lose... so is there anything sensible in it afterall? There is much "risk" involved when you purchase a house today.

Even though there are rent controls here in Quebec, the cost for buying homes just keeps soaring... it's insane...

Quebec looks pretty cheap.
http://www.cbc.ca/money/story/2007/0...ealestate.html
 
Jsan
#55
Here is a glaring example of just how out of control Alberta's Real Estate prices have become. They recently did a survey of the cities that had the most expensive housing close to the downtown core. Of the top 10 most expensive cities in the WORLD we have 2 of them in Alberta. This is SHOCKING when you consider that Edmonton is nothing more than a large Industrial Zone with not much at all for a downtown. YES, our prices are out of touch with reality and I shudder to think what will happen if the economy cools and people start packing up and leaving like the last bust. It will not be pretty. Here's the "top 10" article highlight and link. And yes, Toronto and Montreal are now cheaper to live than Edmonton. I have this funny feeling that by the time I leave (hopefully soon), a heck of allot of other people will be joining me.


“Canada has six of the 10 least expensive and only three of the 10 most expensive housing markets surveyed for entry-level homebuyers working in the downtown business districts,” the report released Thursday said.
Canada’s two largest cities ranked near the middle, with Montreal, at $276 per square foot the 13th most expensive, and Toronto, at $209, at 16th place.
When comparing prices to sizes of the homes, the survey found that the 10 least expensive housing markets are St. John’s, N.L., followed by Quebec City at $93 per square foot, Istanbul $94, Halifax $97, Charlottetown $104, Sydney $105, Bogota $114, Mexico City $119, Moncton, N.B., $127, and London, Ont., $132.
The 10 most expensive were Paris, followed by Moscow at $688, Seoul $630, Vancouver $577, London, England $532, Calgary $500, Athens, $375, New York City $375, Tokyo $325, and Edmonton, $322.



http://tinyurl.com/yseroe
 
Said1
#56
Quote: Originally Posted by Jsan View Post

I have had it with living in this province. I was born in Edmonton, have lived here most of my life and had no intentions of leaving....until now. It has become so ridiculously expensive to live here I see no future for myself in this city. My rent has gone up 3 times in the last year and just a couple of days ago I just received a notice that it is going up again. This is an apartment that normally costs 650 dollars a month and is now well over 1000 dollars a month and climbing. We have no rent control in this Province so there will be no end to the rent increases. Why? because allot of people have no choice, no money saved so they cannot take on an expensive move to a cheaper province so at 0% vacancy most lanlords know they can charge whatever they want. At the same time housing is beyond insane, where my parents house (1100 sqft 50 yr old very average not fancy bungalow) was worth 160k a few years ago it is now worth 450k. I wouldn't even consider purchasing a house in Edmonton at those prices because this is Edmonton, prices that double in one year can also very easily lose that same amount in one year, it has happened before in the past with devastating financial implications to families. A recent poll done showed that 70% of Albertans have not only not seen any benefit from the current boom but consider it a negative impact on their lives . The other 30% are probably fast food workers who have seen their wages go fro 7 dollars an hour to 10 or 11 dollars an hour. My wage (high tech field) has not budged as have most other peoples wages. they remain stagnant while prices and cost of living soars. Yea, this is what we refer to as the Alberta Advantage? That term was coined by the few big wigs in the oil industry who have benefited from this boom!

Come to Ottawa. the high tech sector is 'ok' as is the cost of living. There are some rent controls, but things seem to be returning to normal after a long spike. Good old moderate Ottawa.
 
DoubleWitt
#57
Anyways, after consulting several real estate agents and examining home costs abroad in Quebec, most homes are well over the double-the-original-cost mark. It's getting closer to 3 times the initial amount... that's not cheap...every year it rises...

And generally, salaries here are NOT the same as Ontario or BC for example...to that, add the extremely high tax rates...nowhere else to be found...

I guess you have to look at the "whole" picture. Looking at a report in a column is what it is - a column. But the whole picture is defined by various factors involved that influence our lifestyle here. Afterall, let's face it, everybody knows that the tax rate in Quebec is higher than anywhere in all of North America. That has a tremendous impact...

The underlying point being that the salaries DO NOT FOLLOW the current trends...
Last edited by DoubleWitt; Apr 15th, 2007 at 09:59 PM..
 
tamarin
#58
Said, I like the ol' pic back! You're yourself again!
You forgot to mention the free crack pipes in Ottawa too. It has to be a benefit. Doesn't it?
 
Kreskin
#59
Unless the rent controls are too high, removal can only help real estate. Rather than be a primary residence-only market it also becomes an investment market.
 
Said1
#60
Quote: Originally Posted by tamarin View Post

Said, I like the ol' pic back! You're yourself again!
You forgot to mention the free crack pipes in Ottawa too. It has to be a benefit. Doesn't it?

At that's not all. You get condoms AND free hypodermic needles with those crack pipes. We ain't cheap, we can afford to go all out! Plus, you want to keep those junkies healthy and happy, the city does have an image to uphold.
 

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