Firstly, I didn't say that people in Calgary were commonly borrowing from their parents. I specifically stated that it was a trend I expected to occur in the future:
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There's also the trend of generational transfers. As that trend spreads to other cities, which it will, you'll see more first time buyers jumping in with $1-$300k down payments.
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However, I do know many people who gained assistance from their parents in purchasing homes in Calgary. They did so in the higher end market, purchasing $1+ million dollar homes in higher end neighbourhoods or purchasing expensive condos. These were all people with very wealthy parents.
We are talking about two separate things. The heated market vs. the down market. Calgary was formerly the latter, so many of the things I've talked about wouldn't apply to Calgary, YET.
My point was about how a real estate market can become detached from local economics. A major way is via wealth transfer. As people's parents die or provide them with loans, this becomes a major source of equity for people looking to get into the market. And yes, I do expect to see this trend continue in Canada and spread beyond Vancouver/Toronto. The transfer of wealth from baby boomers to their spawn is commonly referred to as the greatest transfer of wealth of all time. This isn't some fringe theory I've invented. Where do people think that money's going to go, if not to real estate?