Quote:
Originally Posted by Claeren
Yeah, i talk more about it in the Airdrie Real Estate Thread:
http://forum.calgarypuck.com/showthread.php?t=54113
But essentially, the core of the theory it that:
- Downtown area real estate is (1) finite and (2) improvable.
- Far flung suburban property is both (1) infinite (in Calgary's case, not in say, Vancouver's case) and (2) not improvable - thanks to the way those areas are now designed.
As for unlimited land in all cities, have you been to Vancouver? Mountains, international borders and body's of water all play a major role. Other cities on the perifery (like Hamilton v. Toronto for example), transportation infrastructure, hard to develop land (like swamps around Toronto) and municiple planning can all have other influences on pricing, but are far more surmountable.
Not 100% perfect but i think the basic theory is sound...
Claeren. |
fair enough. Point 1 I get. Point 2 I think is just not true.
There's an old adage I've heard about real estate. Location location location.
Calgary could build out forever, but 1 hr to the heart of the city is 1 hr to the heart of the city. Land within that space is scarce.
I actually spend a fair bit of time in VAN, MTL, and TOR. In Toronto for example they are building like crazy in areas like Pickering. For about what houses are here in our suburbs. Except it's 2+ hours to downtown compared to 45 mins.