Quote:
Originally Posted by _Q_
So just because other Canadian cities are worse than Calgary, it means we're heading in that direction as well?
I don't see it.
Canadian home prices are way higher than rhe OECD average. At some point, it starts to hurt economic activity with all our money tied up in real estate.
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No. I said nothing at all like that and frankly don't see Calgary heading that way either.
You specifically asked "Is there a reason for the housing market to be this hot though?" and the link kevman posted illustrates a big part of the reason the Calgary market is (finally) picking up is the enormous amount of equity that's been built up by millions of Canadians over the past 15 years...
Let's be honest, the majority of those paper millionaires aren't exactly astute investors and were simply along for the ride, but I'm sure a good number of them looking at Calgary real estate now are expecting lightning to strike twice.