Alberta Housing Boom coming 2013

[masoncgy]

Alberta is different... for now. It's like Vancouver... "everyone wants to live here. It's different."

Average house price there is off by $200K in less than a year. Imagine sucking on that?

People in 2007-08 thought Alberta was different and the party would never end and then bam, a 15% haircut. A lot of those people still can't break even today, even with the market back up near the last peak level.

It's a sellers market in Calgary, good time to sell and rent until the prices cool off again.

[Sugarphreak]

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[suntan]

Originally posted by Sugarphreak
-British Columbia is drowning in debt, has high income tax rates, high corperate tax rates, PST(HST), with virtually taxes on everything
-Alberta has very low income tax rate, lots of breaks for companies to help encourage growth and no PST

In terms of personal income tax rates, BC has us beat, and has for a while until you get to around $125K.

Alberta actually has a higher small business corporate tax rate than BC (3% vs 2.5%). The general corporate tax rate is the same in both. I'm curious as to what the "tax breaks" are in Alberta though, as I have a small business so it'd be news to me.

BC has the sales tax of death of course.

[suntan]

Originally posted by Sugarphreak


Artificially low interest rates make our currency unattractive to hold, the fact they are printing like mad is further devaluing it, cold hard cash just isn't the place to be putting your money these days.

Who's printing money like mad? Are you referring to the US? They're using quantitative easing, which is not printing money. The EU can't print money, or really do anything at all, since their "central bank" isn't independent from the member countries.

[max_boost]

I hope prices do spike so I can increase my HELOC.

[flipstah]

Originally posted by max_boost
I hope prices do spike so I can increase my HELOC.

No price hikes! I need me some inner city living in 2 years!

[max_boost]

Originally posted by flipstah


No price hikes! I need me some inner city living in 2 years!

You don't need. You want.

BTW, just buy a condo on the outskirts of dt, much cheaper and less busy. I would look for something in the Tuxedo area. Straight down Center street.

[BananaFob]

Originally posted by max_boost


You don't need. You want.

BTW, just buy a condo on the outskirts of dt, much cheaper and less busy. I would look for something in the Tuxedo area. Straight down Center street.

I know a decent one right in that area

[ExtraSlow]

Renfrew, Winston heights, tuxedo and mount pleasant are awesome.

[bleu]

I love living in the inner city. Everything is so close. I am in the inner city SW. My husband and I are both used to the North so we do find ourselves up there when we are going out to eat, we are fairly new to the SW and have yet to try out the restos eventhough Marda Loop is a few blocks away.

I have lived in Tuxedo and it is a convenient location. There are plenty of newer 2bdr/2bath condos being built up around there that are selling in the mid $300s when I was looking in the Summer.

[autosm]

I have noticed people that I know that are buying, building or getting a more expensive property are convinced we are going to see another boom in Alberta.

[Disoblige]

Fuck that flip. You know you want one smack dab in DT so you can just +15 it to work in your pajamas.

[Frankie88]

Originally posted by ExtraSlow
Renfrew, Winston heights, tuxedo and mount pleasant are awesome.

these communities are always popular.

[Sugarphreak]

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[msommers]

What are you doing reading the Calgary Sun?!

I'm considering looking for a place or going on a sweet vacation...leaning towards the latter.

[Sugarphreak]

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[max_boost]

Originally posted by BananaFob


I know a decent one right in that area

Link bro?

[suntan]

I wonder if council will propose rent controls soon. Nenshi is far, far left and we have a number of other clowncillors that would be on board for it.

[msommers]

Interestingly I ran into a mortgage broker last night and was getting his impressions on the market. He has an 'in' in the industry and they're looking to expand their project area in Fort Mac which according to his guy will create 1.7 jobs here in Calgary. They were looking expand over 100,000 people in the next 5 years up there so it could be interesting. Regardless, we're all at the mercy of oil prices so who knows lol.

[msommers]

Originally posted by suntan
I wonder if council will propose rent controls soon. Nenshi is far, far left and we have a number of other clowncillors that would be on board for it.

What kind of rent control? Things are pretty lax right now despite their proposed "rules" on rental suites, and rental properties really only get investigated if there has been a complaint.