Quote:
Originally Posted by Bend it like Bourgeois
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.
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I actually grew up in Ajax Ontario and am VERY familiar with the Pickering area! Still have family there in fact!
Problem is that Calgary has FAR more land within 1hr of the core, more forward looking suburb/commuter-oriented LRT infrastructure, more forward planned road infrastructure and fewer competing uses for perifery land - no Oshawa, no Hamilton, etc.
Considering all of those factors, I am not sure how Toronto (Golden Horseshoe) can house ~7M people while growing in absolute numbers at a much faster pace and charge them on average less for their home then Calgary can at 1.1M people even if they are further from the core.
(That is not to say i do not understand the SHORT TERM pressure that created scarcity in the Calgary market that dorve speculative pricing. But long term?!)
Claeren.