Without a doubt, there are big differences between the Vancouver and Calgary markets, which was one of my points in regards to the Fed’s policies.
I think we’re actually arguing about two different things. I’m certainly not saying first time buyers aren’t getting help from family, because they are. My argument was that most 35 year olds don’t have 160k liquid assets, and most first time buyers are not putting 20% down with the help of a gift. Most commonly gifts are to get someone over the 5% hump. I do some business in Vancouver, but not a lot, so I can’t say for certain, but I imagine this would largely be the same there.
And yes, I do own a small brokerage in Calgary for those wondering and have been brokering for 8 years.
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