Quote:
Originally Posted by bizaro86
I'm quite surprised the bolded is still possible in Vancouver. That changes my perception quite a bit. If the rental value of a property covers all its costs buying is probably better than renting.
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We've casually looked at moving to either Toronto or Vancouver for the last couple of years or so with the idea that we might rent initially, to get a feel for the city before buying... From my observations, both cities offer far greater value in the rental market relative to home prices than Calgary. Generally speaking, the same rental rate will get you a home worth 2X+ in either TO or Vancouver, vs. Calgary... and at the price point we were looking at, none would cover the relative carrying costs, which means the Vancouver and TO homes are way underwater. Just one anecdote...