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The latest AB stats are from 2020, indicating a median household income of $118,000/yr, and the average sale price was $406,000 (3.44:1)
In 2000, it was approx. $60,000/yr, meanwhile the average sale price in Calgary was $176,000 (2.93:1).
For 2023 from Jan-March, the average sold price is $519,000. I can't imagine that salaries have increased by 28% over the last 3 years so that (Sale Price:Household Income) ratio is going to be worse still.
Last edited by msommers; 05-04-2023 at 10:51 AM.
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Don't worry y'all. Surely it can't get even worse right?
https://betterdwelling.com/canada-is...ration-record/Canada has ramped up the number of permanent resident admissions in 2023. Admissions hit 49.5k people in February, up 33% compared to last year. It follows a 44% increase to 50.9k in January.
The full first quarter isn’t in yet, but it’s about to be crushed. Only the first two months hit 100.4k permanent resident arrivals in 2023, vs 113.8k for all of Q1 2022. Growth this year is about 38% faster than last year, with nearly a quarter of 2022’s total already accomplished.
Probably going to add ~1.4MM people to Canada this year.
Rising fast too as April was 549k; bringing the 2023 average up to 530k.Originally Posted by msommers
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Last edited by pheoxs; 05-04-2023 at 10:51 AM.
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I googled different stats, but that’s just google.This quote is hidden because you are ignoring this member. Show Quote
How much does a Calgary alberta make in Canada? The average calgary alberta salary in Canada is $55,453 per year or $28.44 per hour. Entry-level positions start at $40,466 per year, while most experienced workers make up to $128,632 per year
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Calgary market is just playing catch up… 2020-2022 in BC/ON was a frenzy
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I'd argue that not only average incomes are priced out then
I thought I was poor, but turns out I'm pretty close to being a "most experienced worker" and even I feel that I couldn't comfortably afford a mortgage payment on the average price of a 3 bed SFH now
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Well Canadian stats are skewed since someone on PEI living on EI 6 months of the year will drag average down.This quote is hidden because you are ignoring this member. Show Quote
According to talent.com Median income Calgary is $55K and Toronto is $38K
Where median Calgary house price is $606K (11x) and Toronto is $1.27M (33x). So we are down right affordable in comparison.
TLDR: Calgarians make 50% more than Torontonians while paying 1/2 price on housing.
If the world actually knows where Calgary is, we are fucked.
Last edited by Xtrema; 05-04-2023 at 11:00 AM.
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That's my thoughts - I think in terms of salary:house price, Calgary is still way ahead of Van/TO.This quote is hidden because you are ignoring this member. Show Quote
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AB has proper dashboards for stats but like msommers said it only goes up to the 2020 census.This quote is hidden because you are ignoring this member. Show Quote
https://regionaldashboard.alberta.ca...m=2016&to=2020
Overall income in AB is rising at a reasonable rate tbh. Housing is fucked though.
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Expanding M1 will do that.
Good jorb everybody.
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The question is "comfort level" you are after. It will take more than 1/2 of your $130K ($92K after taxes) income to pay for a $600K home at 20% down.This quote is hidden because you are ignoring this member. Show Quote
Your average $55K income will definitely require 2 of those to get into housing comfortablly.
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Asked ChatGPT
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What are highest paying jobs in Calgary AB
ChatGPT
The highest paying jobs in Calgary, AB will depend on various factors such as the industry, level of experience, education, and skills. However, here are some of the highest paying jobs in Calgary based on median salaries according to data from the Government of Canada Job Bank:
Specialist physician: median salary of $286,000 per year
Dentist: median salary of $195,000 per year
Petroleum engineer: median salary of $160,000 per year
Senior construction manager: median salary of $153,000 per year
Software development manager: median salary of $145,000 per year
It's worth noting that these are median salaries, and some individuals in these roles may earn more or less depending on their specific circumstances. Additionally, there may be other high-paying jobs in Calgary not included in this list.
Last edited by 89coupe; 05-04-2023 at 11:21 AM.
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May be that's what they are paying themselves? No way specialist won't clear $800K to $1M for the practice.This quote is hidden because you are ignoring this member. Show Quote
Last edited by Xtrema; 05-04-2023 at 11:31 AM.
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HAWT
lol
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
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The hell does the highest paying jobs have to do with average home prices and median household income?This quote is hidden because you are ignoring this member. Show Quote
Ultracrepidarian
coffee shop soy boy
Because if those people are priced out then everyone else is truly fuckedThis quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
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Just on an general economic theory level, I don't see how it's possible to price the average buyer out of the average home.
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NothingThis quote is hidden because you are ignoring this member. Show Quote
Was just curious what AI could dig up.
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I look at it like non-average buyers are buying all the average homesThis quote is hidden because you are ignoring this member. Show Quote
But then does that make the Uber drivers that used to be surgeons in their home country the average buyer?
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Do you mean mathematically, like the two can't be mutually exclusive? Or fundamentally, like "how can this society exist if this happens"?This quote is hidden because you are ignoring this member. Show Quote
Anecdotally I like to look at my wife and her coworkers as a litmus test for "average" financially. She's a paralegal at a large firm. Department gets annual raises, based slightly off performance, largely off annual budgets. Annual raise is barely keeping up with inflation. On par with peer group and competing firms. Educated, experienced, in demand (until AI replaces them all). Not tech, not oil, but also not low skill, minimum wage, or temporary.
By all accounts, she would/should be an "average buyer" based on age, income, education, employment, and lifestyle.
When contrasted against the increase in housing costs yearly, she's being priced out of the market more and more every single year.
If the average single family house goes up X % per year, should the average salary also go up the same amount in order to keep an acceptable ratio?
(i'm not an economist)
Last edited by CompletelyNumb; 05-04-2023 at 11:53 AM.
I can eat more hot wings than you.
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Mathematics question only.
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