Quote:
Originally Posted by hulkrogan
Kind of comforting to see that we may have gotten a bunch of our correcting over with early.
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From the actual BMO report that article references; 10 years ago Calgary's income to price ratio was 2.8 while the national average was 3.2. The economy may not have been "booming" 10 years ago but Calgary was still far from being a welfare city at the time. I can't help but think that Calgary's urban sprawl played a role in keeping Calgary's house prices "down" past and present...
Houston's house prices, which never boomed, are incredibly cheap when compared to lots of the US and especially those areas with a similar economy.
This article discusses how Houston's lack of zoning and huge sprawl has helped the affordability in Houston.
Could council's attempts to make suburban development more expensive and rezone inner city neighbourhoods, both of which would reduce SFH supply, further cushion the blow?