Calgary real estate prospects

[Tik-Tok]

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Hey, buy what you want, I don't care, just saying if your lifestyle and obligations are so high that you can't swing 5x, then you have made some choices that I don't approve of.

5x our gross household income would mean 53% of our net household income is spent on just the mortgage.

That's insanity.

[94boosted]

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Hey, buy what you want, I don't care, just saying if your lifestyle and obligations are so high that you can't swing 5x, then you have made some choices that I don't approve of.

Being able to make ends meet and "afford" something is completely different than being comfortable with a purchase. I guess it all depends on how much you want to squirrel away for retirement, and like you said other obligations.

[ExtraSlow]

Eh whatever. I said a number, people hate the number, I'm not offended.

[Twin_Cam_Turbo]

5x gross income of a $100k earner is a lot different than a $250k earner in many senses for example. Taxes, money left over after paying a mortgage that is 5x $100k vs 5x $250k. Also the tax implications of say 2x $125k earners in a household vs 1x $250k earner.

[Xtrema]

100k gross = $73K net single or $80K net dual.

$500K house, $400K mortgage at 6% = $30K/year in payments. $10K budget to operate the house, it could be a bit lean but not impossible.

Median Calgary Family income:

2010 - $88K
2019 - $105K

Median Calgary Detach house price:

2010 - $422K
2019 - $450K

Not quite 5x but close enough.

[Power_Of_Rotary]

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100k gross = $73K net single or $80K net dual.

$500K house, $400K mortgage at 6% = $30K/year in payments. $10K budget to operate the house, it could be a bit lean but not impossible.

Median Calgary Family income:

2010 - $88K
2019 - $105K

Median Calgary Detach house price:

2010 - $422K
2019 - $450K

Not quite 5x but close enough.

Well, average household income before tax in calgary looks more like 140k.

https://www03.cmhc-schl.gc.ca/hmip-p...erageAndMedian

[Disoblige]

Just die with $0

[ExtraSlow]

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Median Calgary Family income:

2010 - $88K
2019 - $105K

Median Calgary Detach house price:

2010 - $422K
2019 - $450K

Not quite 5x but close enough.

So I was right.

[ThePenIsMightier]

Median: the least valuable tool in statistical analysis that has ever existed and that ever will exist.

[Neil4Speed]

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Median: the least valuable tool in statistical analysis that has ever existed and that ever will exist.

The median is useful in discussing income because income/house price distributions are very skewed. Some people make obscene amounts of money and likewise with home prices, and the mean is sensitive to that. Curious on your viewpoint though.

[ExtraSlow]

I fucking love statistical analysis discussions. Rock hard right now.

[suntan]

So that's what happens in the art room.

[prae]

y'all suck at beyond balling. You can buy a house worth 5x your annual gross, you just have to pay cash for it.

[89coupe]

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100k gross = $73K net single or $80K net dual.

$500K house, $400K mortgage at 6% = $30K/year in payments. $10K budget to operate the house, it could be a bit lean but not impossible.

Median Calgary Family income:

2010 - $88K
2019 - $105K

Median Calgary Detach house price:

2010 - $422K
2019 - $450K

Not quite 5x but close enough.

Haha,

Show me where you can buy a single family detached home in Calgary for under $500k

Good luck haha

[ThePenIsMightier]

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The median is useful in discussing income because income/house price distributions are very skewed. Some people make obscene amounts of money and likewise with home prices, and the mean is sensitive to that. Curious on your viewpoint though.

Geez, it's been awhile since I've cracked off some T-tests and other nerdy bullshit. But, I think the preference should be to normalize the data and then look to the mean and the Std Dev to tell a better story. Or, trim the outliers to narrow the bell curve.
The median is too skewed by the tail isn't it? If Bezos is in your sample, it indicates a completely unrepresentative median that's like 5 SD's away from the "entire" population.
At the end of the day, I think "average" people (idiocracy) are too stupid to process Mean with SD, so we get stuck with a metric that seems simpler, but doesn't tell us much. And perhaps more importantly, it makes people think "oh I'm not doing so bad" instead of "I should revolt against the govt immediately because I'm getting dry-fisted!"

[suntan]

For very large distributions I don’t think it makes much difference.

[riander5]

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Haha,

Show me where you can buy a single family detached home in Calgary for under $500k

Good luck haha

https://www.realtor.ca/real-estate/2...ry-north-haven

[Buster]

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https://www.realtor.ca/real-estate/2...ry-north-haven

awkward

[suntan]

He’s basically correct, anything cheaper will require a lot of remediation.

Also the ensuite is 2 piece. Is that even a house?

[Xamim]

I'm sure you can find something in the 25 pages worth of listings.


https://www.realtor.ca/map#ZoomLevel...1&Currency=CAD