Quote:
Originally Posted by _Q_
So here's another question.
What does a balanced market look like in Calgary? Is a $1million 800sqft condo a possibility in the near future? Considering the availability of land, does a 20% year over year increase become the norm for the next few decades?
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In nominal Canadian dollars, yes it could be possible. People seem to be forgetting that the money supply was increased through heavy government deficits and BoC monetary policy. Inflation's here to stay at least until prices for real assets match that same run up. A CAD$1.0 million dollar house in 2019 could be worth CAD$1.4 million without any significant changes in local employment, fundamental conditions, real estate market conditions.