Quote:
Originally Posted by Winsor_Pilates
Anyway, don't want to take the thread off topic with Vancouver talk.
For Calgary, I can't believe people are talking "bubble". Hasn't the market been relatively flat for almost 10 years now?
How is that anything remotely resembling a bubble? I think some upside to the Calgary market is overdue.
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I don't get this either.
At a 2% interest rate you can buy a $800k house with 20% down with a mortgage payment of $2,700/month. Most families are dual income these days, so you're talking about $1,350/month each. Very affordable.
The fact you can still buy detached in Calgary for under $500k is astounding. The only thing holding Calgary back was a high unemployment rate. As soon as the job market picks up again, I would expect things to rise substantially.
Where exactly is the "bubble"? Is Calgary going to drop another 30%? If so, that's more suggestive of a fundamental and long term issue with the city.