Quote:
Originally Posted by bizaro86
On the original topic, I absolutely don't think housing in Calgary is a bubble in any way. It's more affordable compared to income than basically any other major city in Canada. I actually think the biggest risk is the government trying to cool down Toronto/Vancouver with rule changes and the rest of the country gets caught in the crossfire.
But oil prices are way up, the pandemic is looking like its on its last legs, and employment is improving. Plus the massive amount of money printing/deficit spending cash will end up somewhere. So real assets in general are potentially a good bet. I think Calgary RE may be in for a few very good years.
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I agree with this too. I know a few people in Vancouver who are buying cheap condos and commercial properties in Calgary. Calgary has the potential of seeing a double wammy of oil picking up, driving people to flock to the city and fill up the empty spaces, and continued low interest rates.
With housing, it doesn't take a large vacancy rate to dramatically tip the scales either way.