Calgary real estate prospects

[max_boost]

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You sure you are looking at single family homes and not condos? LOL

I haven’t seen a pull back in home prices other than 2008, which rebounded a year later.

Keep dreaming.

Will just wait for the next stock market crash instead lol

[killramos]

better sell. Timing the market always works.

[CompletelyNumb]

Matt's correct though for that one range. From the peak in 2007 to the slight pullback in 2020, prices were as close to flat as we've seen. If you want to take inflation into account, they did effectively go down in cost.

But my opinion, I don't see prices dropping (like 08) significantly. Even if oil collapses. Maybe if that happens and interprovincial migration ends and immigration ends. Maybe. Fuck, I hope it does. The average SFH shouldnt cost more than 4x the average wage in any city.

I'm just looking at other large cities as the barometer and in no way are they ever going to be affordable again.

I'm also no expert.

[max_boost]

Yes but saying it’s stagnant flat isn’t good for realtor biz lol

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better sell. Timing the market always works.

Take your tendies

[Tik-Tok]

All those charts are impossible to read without random arrows everywhere.

[you&me]

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You sure you are looking at single family homes and not condos? LOL

I haven’t seen a pull back in home prices other than 2008, which rebounded a year later.

Keep dreaming.

Maybe not in the segment of the market you operate in, but there are a shit ton of high-end properties that still haven't recovered to the pricing levels of 10-12 years ago.

[89coupe]

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Maybe not in the segment of the market you operate in, but there are a shit ton of high-end properties that still haven't recovered to the pricing levels of 10-12 years ago.

You have an example?

[mr2mike]

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All those charts are impossible to read without random arrows everywhere.

Paging @silverx

[msommers]

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Matt's correct though for that one range. From the peak in 2007 to the slight pullback in 2020, prices were as close to flat as we've seen. If you want to take inflation into account, they did effectively go down in cost.

But my opinion, I don't see prices dropping (like 08) significantly. Even if oil collapses. Maybe if that happens and interprovincial migration ends and immigration ends. Maybe. Fuck, I hope it does. The average SFH shouldnt cost more than 4x the average wage in any city.

I'm just looking at other large cities as the barometer and in no way are they ever going to be affordable again.

I'm also no expert.

Oh agreed, the SFH price : household income ratio is completely fucked.

I've wanted to evaluate a lot of real estate data, from a municipal, provincial and national pov but it's in a black box. Maybe I'll take the weekend course and reach enlightenment.

[ercchry]

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Oh agreed, the SFH price : household income ratio is completely fucked.

I've wanted to evaluate a lot of real estate data, from a municipal, provincial and national pov but it's in a black box. Maybe I'll take the weekend course and reach enlightenment.

It’s all available?

You want CREB, RAE, and CREA

[finboy]

I won’t pretend to understand it, but somehow gaining over 25% in the last year and 50% in the first 5 years of ownership seems nutty, I need a job in the new year so I can cash out and get outside city limit

[Cagare]

As long as we maintain primary houses as tax exempt from capital gains we are unlikely to see a very significant decline in housing aside from a national financial crisis....see below.

Now, I am not an economics person but the problem we have run into in Canada is that we produce very little as a nation. We were fortunate enought to be abundant in natural resources, which would protect us from our inability to produce anything by taking a portion of the wealth from businesses that come in and extra these resources. We've actively been trying to destroy that in the past 8 years and the GDP for that has been replaced with internal consumption within Canada.

With interest rates rising, this creates an interesting problem give these two separate situations. Most people in this country treat their house like a retirements savings because of the tax implications, and will sacrifice many things to maintain the mortgage payment as a result. This means that the GDP that we've been increasing by consumption will decline in the next 2-3 years, and has already started. We're trying to stave this off with massive immigration but that can only last so long. It can become a bit of a downward spiral if we are not careful and cause a significant financial crisis.

[R-Audi]

Back to interesting properties...

This one is right up my alley... If I had over double my current budget that is.

https://www.realtor.ca/real-estate/2...y-bearspawcalg

[max_boost]

These immigrants we bring In
Just get them to build some houses
I see nothing but land all around here

[finboy]

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As long as we maintain primary houses as tax exempt from capital gains we are unlikely to see a very significant decline in housing aside from a national financial crisis....see below.

Now, I am not an economics person but the problem we have run into in Canada is that we produce very little as a nation. We were fortunate enought to be abundant in natural resources, which would protect us from our inability to produce anything by taking a portion of the wealth from businesses that come in and extra these resources. We've actively been trying to destroy that in the past 8 years and the GDP for that has been replaced with internal consumption within Canada.

With interest rates rising, this creates an interesting problem give these two separate situations. Most people in this country treat their house like a retirements savings because of the tax implications, and will sacrifice many things to maintain the mortgage payment as a result. This means that the GDP that we've been increasing by consumption will decline in the next 2-3 years, and has already started. We're trying to stave this off with massive immigration but that can only last so long. It can become a bit of a downward spiral if we are not careful and cause a significant financial crisis.

I’d be fine with removing that exemption if we were allowed to stuff $25k/yr in the tfsa one increased rrsp contribution limits

[jutes]

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These immigrants we bring In
Just get them to build some houses
I see nothing but land all around here

They all stay in Toronto or eventually leave.

[littledan]

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These immigrants we bring In
Just get them to build some houses
I see nothing but land all around here

Agreed. We need to go back to the "here's your 1/4 section of land, try not to die in the winter" approach. Tonnes of crown land that could be divided up.

[msommers]

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It’s all available?

You want CREB, RAE, and CREA

I looked and couldn't find any historical data to download. Just recent (last few months) analyses completed by them.

Send it over if you have it

[ercchry]

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I looked and couldn't find any historical data to download. Just recent (last few months) analyses completed by them.

Send it over if you have it

CREA has this tool (I think this is the one you want) the other associations have the last two years of detailed monthly reports, then an older database of blog posts.

https://www.crea.ca/housing-market-s...ndex/hpi-tool/

[vtec4life]

https://www.realtor.ca/real-estate/2...lgary-haysboro

LOL