And if I could invent the teleportation machine, then I wouldn't care about the real-estate price, cus I could get big $$ from that. But you'd still have to, cus it wouldn't be free to use the machine.;-)
I'm LEAVING Alberta !!!!
- Thread starter Jsan
- Start date
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!).
hey hey fingertrouble. I'm an englishman in edmonton!
I've been to calgary for a visit, experienced a seriously strong chinook just after the new year. It blew several trucks over and forced us to take refuge in fort macleod (we drove on way past calgary and went to montana for 15 minutes).
I've been to calgary for a visit, experienced a seriously strong chinook just after the new year. It blew several trucks over and forced us to take refuge in fort macleod (we drove on way past calgary and went to montana for 15 minutes).
The thing is...I believe this is going to be temporary. Anyone buying a house now, is stuck...and in the end, if you haven't sold now, you will be out of luck. Many of the oil field guys that I drive to the airport are telling me that the oilpatch will be slowing down a great amount this summer...40 percent one guy was telling me...(where he got his info, I'm not sure). That will have a big impact. It could mean that anyone who has bought a house in the last year at overly inflated prices will see the value decrease. Anyway, the point is...how long will this last? I don't think it can. I think we are headed for a big crash.
Anything is possible. But if it fell 50% his parents would still be well ahead. Or they could sell now and cash in bigtime. Buying in now, I agree, pretty high prices.
Except...they still have to find a place to live...the only way they will actually profit is by moving to another city...another province. All housing is inflated in cost, so, unless they are drastically downsizing or willing to live on 118th ave...they won't really be ahead I'm thinking.
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.
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.
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 :idea:
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 :idea:
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
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
....... and Calgary is way easier to find your way around in than Edmonchuk.
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?
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.
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...
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...
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.
...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?
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?