Quote:
Originally Posted by Bouw N Arrow
About time...
One of the biggest reason's I moved was due to the cost of living. From 2002 to 2009 the change was ridiculous. My Scottsdale apartment would cost me 3 times as much in Calgary
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While its a factor, I don't think income disparity is the whole story here. It's also about demand. Arizona, Florida, Nevada and California all built homes like crazy when there were so few real buyers and even fewer buyers who lived year round in those places and therefore supported the local economies. These economies are also stagnating.
Calgary on the other hand has a huge continued migration that means there are far more buyers and therefore is a much greater demand in the market, driving up the prices (which is where income disparity allows them to buy those homes.)