Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Ottawa tightens mortgage rules to avoid 'bubble'

photon · 07-10-2008, 05:52 PM

True about people buying to the max of their ability to pay, and I totally agree, double digit price increases is crazy and unsustainable.

For the aside, you can't really directly compare dollar for dollar, you have to take incomes into account.. affordability indexes are based on multiples of annual income or payments vs percentage of annual income.

Right now Calgary is more affordable based on income than Saskabush, because while prices there are skyrocketing the incomes are low. That's why I think Calgary is having a fairly soft landing (incomes are going up quickly here) but Saskabush could be a much more violent decrease.

07-10-2008, 05:52 PM	#16
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	True about people buying to the max of their ability to pay, and I totally agree, double digit price increases is crazy and unsustainable. For the aside, you can't really directly compare dollar for dollar, you have to take incomes into account.. affordability indexes are based on multiples of annual income or payments vs percentage of annual income. Right now Calgary is more affordable based on income than Saskabush, because while prices there are skyrocketing the incomes are low. That's why I think Calgary is having a fairly soft landing (incomes are going up quickly here) but Saskabush could be a much more violent decrease. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.