Quote:
Originally Posted by darklord700
I do get the appeal of downtown living and had I not have kids, I might live downtown as well. What I don't get is who wants to live in a 450 sq/ft glorified shoe box for over $2K a month to rent or $400K to buy?
Apprently phase 1 of this particular building is well rented out, go figures.
Go to East Village and you can buy Arriva for $600K with almost 1300 sq ft. Now I can see myself and my kids live in something like that.
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plenty of people in Calgary from all over Canada that have no intention of making this city their home. They're here to churn it and burn it. make the money and GTFO when the pig sinks. Why? Because you can't get a job anywhere else in Canada. The economy is completely dead outside of alberta. These people are willing to pay a premium to rent and be able to bail out at any time. That is why rents are so high and about equal to purchasing. Everyone on planet earth knows Alberta is a boom/bust economy. The only people delusional enough to deny it is Albertans lol. They think this time it's different. It's not. The second oil and gas slows down the pig is toast. Everything depends on oil and gas. The home builders, the blue collar workers, IT companies, software companies, government workers, the girl at the mall selling you a pair of shoes. It's all because of oil and gas trickling down to other industries. When oil and gas slows, everything will shrivel up like a dying plant.