Someone very unfamiliar with Calgary, I'm sure.
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There are these stacked homes in our very lively downtown district that I hope become super popular for those out east.
I had to look that (Skyview) up.
WtFBBQ?!??¡!
Found the lastest person who will be complaining about the airport being loud in 3 months.
Seriously. That house better be built out of strippers and cocaine to spend that much to live there.
Classic Ontario purchase.
I could use 3 more months of bubble
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Wait, wrong thread.
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Or is it?
Affordability will have be decimated before the trickle down will happen. A lot of people still don't like any sort of management fees.
It's 5min to airport, T&T and 10min to Downtown, super convenient!
Asian buyers:
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So the hotness is that a lot of reports are betting an AB rebound with oil prices and diversification kinda bearing fruits. With shortage of material and supply, people want to get on the board before they are priced out.
Looked up listings in the far NE for the first time after reading this. 500k duplexes, 600k laned, and 700k for attached double garages.
The NE Stoners are the next SW Aspenites.
This inflow of Ontario money is essentially the same thing has lotto winnings… they lucked into it and are looking for something bigger and better than the multi-res/1100sqft bungalow they currently live in. No spectacular earning potential either so they have to move to get it
Are these actual people buying? or are ibuyers finally taking hold in Canada?
Anyone know what jobs all these Ontario people are filling? "Tech" is so generic
It's just a flip or a retirement move. Friend of mine sold his Calgary McMansion for $750k and got the a place for the same price at edge of Oakville. Fast forward 8 years, his joint in Oakville is now fetching $1.5-$1.8M and his old house here or similar is going for around $900K. He can easily cash out $900K and move back to Calgary. It's not a lot but as human capital wanes as you age, that's not insignificant amount to add to the retirement pool.
Back in 2007, the average home price in Toronto was ~$525... Calgary was ~$580.
Today, the average Toronto home owner has seen their home triple in value... The average Calgary owner has - if they're lucky - broken even.
So the average Torontonian has amassed a million dollars in equity... And there's potentially millions... This could amuont to trillions of dollars! :eek:
Anecdotally, it seems like a lot of Ontario buyers aren't moving here, but buying because the market seems too cheap to ignore and they can use just part of their equity to buy up these seemingly cheap houses, in cash.