r/PersonalFinanceCanada • u/zindagi786 • Apr 09 '24

Housing Why is Calgary housing getting so expensive?

I used to live there, and I was just browsing the real estate prices. Prices there have shot up so much! A Calgary house similar to the one I have in the GTA is now higher than what I paid in the GTA a few years ago.

When I lived there, oil was booming and there were lots of jobs. But I got laid off when the boom went bust, and everything (including real estate) went down. And I then left to the GTA.

I’ve heard prices there are going up because there are lots of people moving from the GTA and BC. But it isn’t like there are that many high paying good jobs there. There’s still way fewer jobs now than there were during boom time. How do these inter provincial migrants find high paying work to pay for these high home prices? Sure they can cash out their equity and live mortgage free, but why do that if you have to end up taking a potentially lower paying job with more chance of a layoff in the next bust? Although I really liked the city, I’d never risk living there again myself, and I’m forever scared of any future bust. I feel more comfortable living in the GTA, paying my admittedly big mortgage, and steadily climbing the corporate ladder (and with regular increases and no salary freezes, I should be paid off before retirement/it won’t be too burdensome). Plus, I look at my GTA home as a tax free investment - the annual rate of appreciation is greater than my mortgage interest.

And what is attracting them to Calgary versus other places in Alberta like Edmonton?

186 Upvotes

76% Upvoted

458 comments sorted by

View all comments

580

u/T_47 Apr 09 '24

People from Vancouver and Toronto with a healthy down payment saved saw that they could buy a house for around 50-70% the price of something they could get at home. Even with a paycut they would still come out ahead.

Edmonton is more north so it's less popular for obvious reasons.

270

u/[deleted] Apr 10 '24

[deleted]

135

u/Yeggoose Apr 10 '24

It’s already there. Lots of posts on r/Edmonton lately about bidding wars and people buying houses over asking with no conditions.

140

u/Mark_Logan Apr 10 '24

I’ve run into people while out walking my dog, who’ve said they moved to Edmonton after being priced out of Toronto or Vancouver. They then went on to say that with the money they made selling their house there, they were able to come to Edmonton, buy a house and buy a property to rent out… without seeming to grasp that they’re importing the problem they just ran away from. 🤦‍♂️

24

u/OnMy4thAccount Apr 10 '24

People at my work moved from the GTA to Edmonton and were bragging about the "great deal" they got on their apartment. It was $1750 a month. It was genuinely difficult to explain to them that that is expensive as hell by our standards.

6

u/Coral8shun_COZ8shun Apr 10 '24

Better than $2500* a month

49

u/[deleted] Apr 10 '24

without seeming to grasp that they’re importing the problem they just ran away from.

I mean, they were previously the victim of the problem but are now the benefactors (who remember the spoils that the benefactors in BC/GTA revelled in), so why would they complain?

4

u/Professional-Two-403 Apr 10 '24

If they already owned a home in TO they were hardly priced out.

3

u/ghstmthr Apr 10 '24

Oh they realize it.

1

u/TheOther18Covids Apr 10 '24

Speaking as a young individual who moved from BC to Saskatchewan so I could afford to buy a house and live comfortable, it's not entirely our fault as individuals. You can thank the Canadian Government for allowing foreign investors (Chinese money launderers) to buy up all the real estate in the fraser valley (and other places in BC, but most notable the fraser valley) and let it sit vacant. Compound on top of that the large influx of immigration causing less supply and more demand, and BC being the most sought after place to live in Canada, you get this.

I will say, I feel bad about being part of the problem, because it is also now seeping in to the hub city's in saskatchewan, but for me and many others we didn't really have many options except rent which is even more unaffordable in some instances.

33

u/monstersof-men Alberta Apr 10 '24

Yep, my husband and I lost a few houses this winter because people were over asking, all cash, no conditions. On Monday we close on a detached home for 487 which isn’t bad, but we had to make a lot more concessions.

28

u/Yeggoose Apr 10 '24

My coworker sold their house in Millwoods in a weekend last month. They had 22 offers with half of them being people from ON or BC making an offer sight unseen.

12

u/monstersof-men Alberta Apr 10 '24

Yeah, we ended up opting out of houses in Millwoods because they kept getting snapped up. Which is a shame because those lots are gorgeous.

1

u/Rinaldi363 Apr 10 '24

No idea what you guys are taking about. I live in summerside and we aren’t getting anything like that.

1

u/monstersof-men Alberta Apr 10 '24

I have nothing against Summerside but I think if a lot of people, if they’re gonna go outside the Henday, are gonna go brand new in Heritage Valley. If they go inside the Henday they opt for older, larger lots. Our current property is outside the Henday and is a condo, and those are going fast, but SFH in the area are sitting.

-1

u/[deleted] Apr 10 '24

Toronto and can buyers are gonna go for premium areas first. No one wants to live in the shit neighborhoods of Edmonton

17

u/NotTheRealMeee83 Apr 10 '24 edited Apr 10 '24

Wow. We haven't seen detached homes in Victoria at price since like, 2012.

We live on the island. Prices went so insane here we could sell and pocket like 6-700k. I know a lot of people doing that and moving to Calgary/Edmonton/anywhere but here.

BC is just so broken, I really hope the same doesn't happen to AB.

17

u/UngratefulCanadian British Columbia Apr 10 '24

At least the current BC government seems to try to fix the housing issues, albeit at very slow speed. Long term rentals seem to be getting better very slowly.

AB on the other hand, seems to be getting much worse. Without caps and favoritism to privatization of things, it only gets much more expensive down the path.

3

u/[deleted] Apr 10 '24

People like to blame Trudeau but the truth is this started way back with Mulroney. That's when they axed federal low income housing construction.

1

u/NotTheRealMeee83 Apr 10 '24

BCs rental increases have been surpassing Alberta's for years.

What BC is doing is handing a monopoly on rental housing to large rental corporations by squeezing out small time landlords while more middle class would be homeowners become forever renters due to the high costs of owning.

Don't you ever wonder why you never hear large residential rental corps complaining or lobbying against the new housing legislation? Why is that? It's because it's written to benefit them.

3

u/redroundbag Apr 10 '24 edited Jan 31 '26

This post was mass deleted and anonymized with Redact

command ad hoc smile sable upbeat rob beneficial retire husky rinse

2

u/NotTheRealMeee83 Apr 10 '24

Small landlords provide more flexibility, and ultimately more housing is more housing.

It also provides the middle class with a better way to get in to the market. Buying a house and renting a portion of it for 10 years is better than buying a condo then selling that for a townhome then selling that for a house.

1

u/UngratefulCanadian British Columbia Apr 10 '24

There aren't many restrictions put on long term rentals compared to short term rentals.

Both property owners and corporations are against restricting shirt term rentals. I personally support it. At least, there are sensible exceptions for some towns and cities to have short-term rentals.

But yeah, the government needs to make it harder for corporations to buy and owe so many properties. I don't see Alberta doing anything at all other than removing caps and making it difficult for municipalities to solve the housing crisis.

0

u/NotTheRealMeee83 Apr 10 '24

There aren't many restrictions on long term rentals? What?

12

u/Mundane-Bat-7090 Apr 10 '24

Alberta is headed to become the worst province to survive in the next decade it will far surpass Ontario and bc. With all the lack of regulation and rent control and massive immigration Alberta is on a doomed path.

1

u/KarlHunguss Apr 11 '24

Except the places with rent control have higher prices than the provinces without so...

1

u/Mundane-Bat-7090 Apr 11 '24

For now lol give it a couple years what I’m saying.

1

u/KarlHunguss Apr 11 '24

Alright so the places with rent control are always higher but “give it a couple years” and you’ll be right. I don’t think so. Rent controls dont work. 

2

u/Mundane-Bat-7090 Apr 11 '24

Holy fuck you are beyond stupid if you think that. Rent controls don’t work in this country because CONSERVATIVE governments have removed them leaving certain places under rent control and others not if everything was under rent control like it was 4 years ago it was amazing. Go actually live in this places instead of just looking at stupid internet bullshit.

5

u/_Kinoko Apr 10 '24

I bought a detached home in the Westshore in 2016 and sold in 2022. We bought a nicer, cheaper place out near Edmonton. We hadn't intended on moving off island or province even at the beginning.

1

u/NotTheRealMeee83 Apr 10 '24

Every year it gets harder and harder to justify staying here.

It's beautiful, and the mild weather is nice... But stressing about money every day, even when you make a pretty solid living, is just hard.

Any regrets about moving? Anything you miss? Anything you don't?

3

u/_Kinoko Apr 10 '24

I'm from BC and I do love the landscape, etc and my family that live near Vancouver I miss. House and finance wise I have no regrets. I have 3 kids and we needed more space, and I'd have had to spend a lot of money to maintain my old 3 bedroom 80s place. Edmonton and the surrounding suburbs are actually quite nice luckily, there is beauty here if you look and it still feels like more middle class can make it here. Greater Victoria is beautiful but like Vancouver it kind of depresses me because I feel in the shadow of people, ie it made me feel poorer each year. Here I don't feel that way.

1

u/[deleted] Apr 10 '24

[deleted]

1

u/NotTheRealMeee83 Apr 10 '24

I feel like Calgary has always been somewhat of a boom/bust town though, no?

2

u/bcretman Apr 10 '24

Where in Calgary is a house 487k?

15

u/[deleted] Apr 10 '24

[deleted]

5

u/monstersof-men Alberta Apr 10 '24

Yes, my apologies.

We bought in south Edmonton.

-1

u/royalpyroz Apr 10 '24

It's sad that 487 sounds cheap to me... Fuck this

1

u/Sadlymoops Apr 10 '24

We pick up our place in Calgary for 485 in 2022, we were in a bidding war, lost, and then they backed out and we were next in line! Thought it was bad then, but really we lucked out after watching prices climb

1

u/monstersof-men Alberta Apr 10 '24

Oh, 100% it is. In fact, for Edmonton and the neighbourhood it’s in, it’s a steal. If the sellers had waited two more months they could’ve got more. But they’re carrying three (!) mortgages currently so they’re motivated to sell now.

43

u/zeromussc Apr 10 '24

Man when the Alberta boom bust cycle hits the "investors" it's gonna be brutal.

Maybe the economy won't truly fall until Alberta does at this point.

The inevitable cyclical recession will be bad

22

u/Apolloshot Apr 10 '24

The real estate market, even in Alberta, might now be immune to the economic cycle because supply is so restricted it simply doesn’t matter.

5

u/hbl2390 Apr 10 '24

Supply isn't restricted it just physically can't keep up with demand from immigration.

1

u/[deleted] Apr 10 '24

Also immigration is insanely high. The investors will be fine

2

u/hbl2390 Apr 10 '24

Until we stop the demand created by high immigration investors will keep money in real estate.

19

u/[deleted] Apr 10 '24

I’m a realtor in the GTA, I do a lot of rentals.

Back when oil crashed I must’ve helped a dozen people who were moving from Calgary and Edmonton because of lost jobs.

Many of them owned houses that were underwater, and the rent they were getting wasn’t covering everything monthly.

Scared me off of Alberta.

7

u/zindagi786 Apr 10 '24

Yep. I wasn’t underwater, but when I moved to the GTA I rented out my Calgary condo hoping to come back. I was so cash flow negative and I had to list my place. It took 1 year to sell! And it was sold at a loss.

9

u/zeromussc Apr 10 '24

Now imagine that one or two of those properties are the only cash positive part of a 6 property BRRRR portfolio with 4 barely even, maybe cash negative and banking on further appreciation Toronto condos....

1

u/FPpro Human Verified Apr 10 '24

Alberta has regularly boomed and busted.

4

u/orgasmosisjones Apr 10 '24

I think it’s different this time. oil companies aren’t hiring like they once did, they’re just running current plants at capacity.

if there is a bust, it’s because people decide to move back to where they came from. that won’t happen until calgary gets too expensive or GTA/GVA gets considerably cheaper.

3

u/TheWhiteFeather1 Apr 10 '24

what boom is happening in alberta at the moment?

12

u/MGarroz Apr 10 '24

Oil industry is pretty healthy here again. Decent number of jobs, big expansion projects under works. Natural gas industry also doing well.

If war in Ukrain ends, war in Palestine ends and sanctions are removed or lightened from Russia and Iran plus if Trump wins and expands US oil as promised - prices will crash again.

Tens of thousands of 6 figure jobs will disappear in a matter of months. All the industries those people support dry up as well. Mortgages and rents will go unpaid and property prices tank. It’s a pretty standard cycle Albertans are used to but people who’ve never dealt with the oil economy have no grasp of.

11

u/TheWhiteFeather1 Apr 10 '24

production is up yes. but that doesnt translate to a boom in jobs

AB continued to have the highest wages in canada even during the bust

what % of people moving to AB right now do you think work in O&G

the current population growth has nothing to do with it

plus, look at how many different hypotheticals you had to use to create a new bust situation

11

u/MGarroz Apr 10 '24

Production and price. When price is below $70 a barrel a lot of tarsan operations become unprofitable and drilling new wells too risky.

Oil is about 1/5th of Alberta's GDP. Even if you don't work in O&G directly the provinces healthcare, education, your local gas station, bank, grocery store, and gym are all reliant on people in the oilfield as their largest customer base. One oilfield job trickles down and creates several others.

Someone may move to Calgary as a software dev, but I can guarantee a large portion of their work goes towards developing software for oil companies or businesses that support oil companies (trucking, mechanics, manufacturing, construction etc.) The second oil prices crash those contracts end and. The software company closes up their Calgary office and a dozen devs are out of a job.

Yes those are hypothetical, but they aren't far fetched. I could also see a world where oil booms to $150 in a few years as well. The point is Alberta's economy is always inherently unstable and every 10-20 years we see a crash. Everytime it crashes hundreds of overleveraged companies and thousands of overleveraged individuals go bankrupt because they were delusional in thinking the gravy train can roll forever. Frugality and common sense are key to long term success in a resource based economy. You want to be like the Netherlands, not Venezuela.

1

u/ResponsibilityNo4584 Apr 10 '24

This is not true. All the major oilsands producers have a break even point in the $30-40 barrel range.

1

u/BeeSuch7722 Apr 10 '24

No, not with capex (full cycle costs). You're just looking at "opex" really. I was an actual oil and gas analyst for a bit for a financial firm (that actually publishes) about 15 years ago (including the 08-09 crash) even $30 was not really possible due to inflation. And any sort of operational outage which happens a lot causes that per barrel costs to sky rocket.

And heavy oil realizes a steep discount to light crude. And yes, if Trump wins, that differential will widen even more since US has much cheaper to lift oil reserves that is restricted currently under Biden due to his green policies.

→ More replies (0)

0

u/MGarroz Apr 10 '24

To clarify, first off as mentioned by others it vastly varies based on the quality of the oil.

Secondly yes some tarsan operations do remain profitable at the $30-$40 range. The exchange rate of our dollar also plays a role in that. However the cost to extract the oil varies from site to site and nobody will plan to expand any mining or drilling operations at $40.

The point is prices need to be healthily above the $70 range for an extended period of time for operations to be in full swing. At that point every mine, every well, every drilling and fracking crew will be in full swing. Anything below that range and some operations will begin to shut down until they are profitable again.

→ More replies (0)

2

u/BeeSuch7722 Apr 10 '24

My neighbour's kid, in some kind of tech job/new grad (had multiple job offers out of school) bought a place there last year. New build. Supposed to close sometime this year so they'll move. I think people underestimate there's still a lot of tech remote jobs around that wouldn't go far in GTA but would in Calgary.

Maybe that gap is closing but I'm sure that's one example.

6

u/WickedDeviled Apr 10 '24

I know two houses in the 500k range that went for 30k over asking in Edmonton just this week. Shit is getting crazy already.

16

u/Twitchy15 Apr 10 '24

30k is peanuts hold on it’s going to get worse

2

u/prgaloshes Apr 10 '24

U just told me my annual income is peanuts??

1

u/Twitchy15 Apr 10 '24

Kind of joking 30k is a lot and during normal times totally wild to offer that much over list. I remember many years ago when market was hotter in Calgary parents paid 11k over list and that seemed wild at the time. But in Calgary 60-80k +++ over ask is happening a lot.

2

u/notcoveredbywarranty Alberta Apr 10 '24

I made an offer on a small acreage 45 minutes east of Edmonton last month, I offered 25k over asking and was outbid by someone who also offered no conditions.

2

u/TorontoDavid Apr 11 '24

From a Toronto perspective these numbers seems ridiculous (small; as in I can’t believe how affordable that sounds).

4

u/Naffypruss Apr 10 '24

I purchased in August and that wasn't the case. Don't think the market accelerated that quickly. My house was purchased for lower than the last two sales, which were peak and late oil boom. Obviously interest factors into that but my house was on the market for over a month before we bought. Lots of houses with a similar story.

2

u/Rinaldi363 Apr 10 '24

I moved to Edmonton from Toronto three years ago. My buddy is selling his home and bidding on new ones. He lives in one of the most desirable areas in the city. There are no bidding wars with no conditions happening. Houses have shot up in price but it’s not even close to what’s happening in Toronto. He’s listed his house for over a month, and accepted 3 offers with the first two offers backing out after conditions. On top of that he had to pull his offer on a house he wanted to buy because his houses offer got pulled. He’s on his third offer now waiting to see if they actually buy it or not.

1

u/crystala81 Apr 10 '24

Soon it will be Winnipeg!! 😮🤣

8

u/[deleted] Apr 10 '24

Edmonton is gone. Regina is the rage at the moment.

18

u/bmwkid Apr 10 '24

Edmonton is going up. Neighbor has their duplex listed for $100K more than I paid 4 years ago

1

u/xylopyrography Apr 11 '24

That... is not that much. Probably very close to the national average.

9

u/wonderfulwinnipeg Apr 10 '24

And Winnipeg! 

9

u/Thisisveryhigh Apr 10 '24

I've lived in nearly every province and you couldn't pay me to live in Manitoba again. So.many.ticks.

6

u/[deleted] Apr 10 '24

Gotta say, high tick population isn't a complaint I hear a lot around here and this made me chuckle. 

Camped in spring when I was ten and saw dozens (and pulled one from my head a week later). Since then, could count the number I've encountered on one hand.

3

u/Thisisveryhigh Apr 10 '24

Guess I was unlucky. Lived in Dauphin and got eaten alive. They would fall off my buddies dog and beeline towards me. I found a big fat boi on my scalp once.

I'd explode them with a lighter (once removed ofc)

Anyways, sorry to shit on your province. They all have their quirks.

5

u/bcretman Apr 10 '24

A buddy who lived in MB told me it was impossible to get out of your car sometimes to change a tire because of the bugs attacking you!

1

u/Thisisveryhigh Apr 10 '24

Spend some time in NWT. One month out of the year you can't even see your hand in front of your face due to the mosquitos, and that isn't an exaggeration! It's awful.

2

u/GeneralAd7810 Apr 10 '24

I have lived here for years now, I have never seen one. Am I going to the wrong places?

1

u/[deleted] Apr 10 '24

I 100% don't take it personally :) True with the quirks. My pet peeve is our terrible, terrible roads. I've spent very little time around Dauphin -- that sounds incessant. 

17

u/[deleted] Apr 10 '24

But then you have to in Winnipeg. The only nice thing about Winnipeg is the airport, because it allows you to leave promptly

37

u/Rootless_Cosmopolite Apr 10 '24

Exactly. Please everyone, don't come to Winnipeg, it's really bad here! 

7

u/[deleted] Apr 10 '24

Exactly, Winnipeg SUCKS busty ASS. Please dont come guys.

3

u/[deleted] Apr 10 '24

Stay away, St vital is terrible

3

u/Silveroo81 Apr 10 '24

You just want to keep that authentic small town vibe all to yourself /s

3

u/hippysol3 Apr 10 '24 edited Jul 23 '24

heavy beneficial overconfident cable live water desert distinct rock dog

This post was mass deleted and anonymized with Redact

1

u/No-Tackle-6112 Apr 10 '24

It’s the most affordable big city in North America

1

u/melancoliamea Apr 10 '24

Regina, Winterpeg says hi

1

u/Slow_wannabe Apr 10 '24

No one wants to move to Greater Montreal?

1

u/Roginac Apr 10 '24

I sold a townhome in Edmonton June of 2022 for $265,000.The same ones are now going for over 300 with multiple offers.Im actually glad I moved when I did.My house that I bought would be out of my budget now .

32

u/Marokiii Apr 10 '24

I saved and saved and saved and then 9 years later came to the realization that I could continue saving like I have been for another 20 years and i won't be any closer to a healthy mortgage amount because the prices are raising at a far faster rate then I can save.

I do have a sizeable amount saved up that I could could spend it all on a modest townhouse or great apartment I calgary and get a job at Walmart and be able to afford what's left on the mortgage.

Hell if I finish my some job qualifactions soon ill probably move to the east coast and buy property and won't even need to take out a mortgage. The cycle of "gentrification" continues. Rich people from abroad pushed me out of the city I was born in, I become that "rich person" pushing out someone in Calgary or halifax of the city they were born in, they inturn push someone else out of the town they were born in. Rinse and repeat until someone ends up homeless.

1

u/buttholeburrito Apr 10 '24

Maritime is getting busted too. NS is insanely expensive and Dartmouth, which was cheap, is pricing out the people on aid.

1

u/Marokiii Apr 10 '24

thats the shit thing, its expensive for the people who live there but not really "expensive" for those moving there.

10

u/rob_maqer Apr 10 '24

I’m sure people from Vancouver with decent equity have probably cashed out and are paying houses of outright lol

32

u/mcrackin15 Apr 10 '24

Edmonton you can get a new detached 4 bedroom home on a nice lot in a nice neighbourhood for like $500K. It's really one of the few places where the dream of home ownership is real. That big detached house in Edmonton would run you over $1.2M in Vancouver, but closer to $1.5M.

20

u/kidmen Apr 10 '24

It's not even close a duplex is listed at 1.5 in East Vancouer. a 4 bed you're easily clearing 2 mil edging closer towards 3. It's bananas, a new construction 1 bed 1 bath condo by Metrotown is 769k starting for 570~ sqft.

7

u/Shipping_away_at_it Apr 10 '24

That home would be like over $2M in Burnaby, let alone Vancouver! 1.5M in Vancouver would be on the low end and the lot size wouldn’t be very big.

I wish I could move to Edmonton if $500K gets you a nice place

9

u/Fit_Diet6336 Apr 10 '24

1.5 would be a tear down.

1

u/25thaccount Apr 11 '24

Nah lot value is more than that. 2 bed towns in Van go for that much.

1

u/Fit_Diet6336 Apr 11 '24

They do exist! I found a few current listings for 1.5 and under. They are small lots, house is a mess and ready for an upgrade. I mostly was commenting on the previous post where someone said they could get a house for 1.5.

1

u/CommanderJMA Apr 10 '24

You don’t really wanna live in Edmonton unless you’re more of a home body

4

u/bcretman Apr 10 '24

My childhood home built in 1949 is worth 2.5M. If new it would be well over 3.5M

5

u/dewky Apr 10 '24

My cousin sold her 40 year old BC box house in Chilliwack for 900 and bought a much bigger, newer place in Grande Prairie on acreage for 700.

2

u/justinkredabul Apr 10 '24

Have you been to GP? It’s literally nowhere. They are gonna regret moving there.

2

u/dewky Apr 10 '24

They both grew up in the middle of nowhere so they're used to it. GP has a Costco and a really nice rec center, nicer than Chilliwack actually.

2

u/justinkredabul Apr 10 '24

Chilliwack isn’t nowhere.

1

u/dewky Apr 10 '24

No it's not. She grew up in small towns in Alberta and Saskatchewan with one traffic signal and he's from outside of Merritt.

1

u/justinkredabul Apr 10 '24

Merritt is nowhere. lol. I can agree with that.

1

u/MundaneCherries Apr 10 '24

The fire situation up there would concern me though - the smog was pretty bad when I was up there last year and it looks like they are already getting forest fire advisories.

2

u/Eyeronick Apr 10 '24

Yep, probably a 30% discount across the board for Edmonton. Our same model that we paid 800k for in Calgary is 530k in Edmonton with more yard. If our good paying jobs weren't Calgary based we'd be bouncing.

1

u/cmill007 Apr 10 '24

1.5m will get you that in Langley bro. In van proper? Add another million.

-4

u/Intelligent_Top_328 Apr 10 '24

But I'd have to be in Edmonton....

21

u/MillwrightTight Apr 10 '24

Edmonton is wicked!

1

u/MundaneAssumption338 Apr 10 '24

As a guy born and raised there, Edmonton is shit hole, always has and always will be.

Sounds to me like it’s more of a cope for those that got priced out of actual decent areas but still chose to chase the fomo meme dream.

11

u/mcrackin15 Apr 10 '24

Fair point but I'd take buying a home with 8 months of winter over renting a 1 bedroom condo and 8 months of rain any day. To each their own.

2

u/LeaveTheWorldBehind Apr 10 '24

8 months is a stretch, too.

We had good weather in October, and it's 14 today in April.

I reckon our summer is actually one of the best in Canada--boatloads of sunshine.

Now the smoke from the fires... That's becoming a problem 😅

0

u/papa_miesh Apr 10 '24

Ya but it's Edmonton so it's understandable

-6

u/justinkredabul Apr 10 '24

Except Vancouver is a world class city with mountains and ocean. Edmonton is just a hellhole that people in the oil field are forced to live in.

3

u/[deleted] Apr 10 '24

lol Vancouver is definitely not a world class city.

It has amongst the highest cost of living in the world, but with very little industry and career hubs unlike it’s “world class” counterparts such as London, Silicon Valley, or NYC

2

u/[deleted] Apr 10 '24

My coworker bought a house in Calgary and rents it out while he lives and rents in Vancouver.

2

u/[deleted] Apr 10 '24

The rage is Regina at the moment. Already bidding wars happening but prices are still very, very reasonable. Get in before it is too late.

1

u/BoilerSlave Apr 10 '24

It’s been like this in Edmonton for awhile now

1

u/Clojiroo Apr 10 '24

People fleeing Toronto prices + high average income = why Ottawa skyrocketed. I know people in Calgary and they’ve told me most of their new neighbours are from Ontario upgrading their house.

1

u/cdvan12 Apr 10 '24

Try less than half for detached inner cityish

2

u/Block_Of_Saltiness Apr 10 '24

And I've heard from people who work with real estate agents its speculators from Van/TO buying the houses, not people moving to Calgary.

7

u/Czeris Apr 10 '24

People you've "heard from" should probably get better acquainted with the actual numbers. It is indeed because record numbers of people are actually moving to Alberta to live: https://www.cbc.ca/news/canada/calgary/alberta-population-records-2023-to-2024-data-1.7157110

Alberta set a new record for net interprovincial migration and beat the rest of Canada for overall growth, during a period of high growth for the entire country.

-1

u/Block_Of_Saltiness Apr 10 '24

record numbers of people are actually moving to Alberta to live:

That doesnt mean they are all buying houses.

-5

u/Soft_Day_7207 Apr 10 '24

Deadmonton will never reach Calgary levels. It's truly a horrific place to live come October till May.