Peter, if you are serious about a move to Calgary, I think the timing is right. While real estate is on fire in most places in Canada, I think Calgary prices are still fairly reasonable.
With rising price of oil, and the likelihood of inflation, I can see real estate starting to rise in the not too distant future.
I would choose Calgary as a place to live on the basis of sunshine days, young highly educated population, strong sense of Community and volunteerism, proximity to the mountains and foothills, great healthcare, strong spirit of entrepreneurship, good place to raise a family, etc.
In spite of the recent downturn, IMO Calgary is still one of the best places to live in Canada, particularly for a young, upwardly mobile person like yourself and partner.
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