Quote:
Originally Posted by blankall
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.
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And who amoung us doesn't have $160k just sitting around?