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Originally Posted by urban1
High housing costs (both rental prices and home purchase prices) have the impact of forcings residents to spend more of their incomes on housing. This reduces the money you have available for other things including savings and discretionary spending and this can have an impact on your quality of life.
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True, but in Alberta consumer spending hasn't been impacted, so people still have confidence in the economy and are willing to spend.
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Things have gotten out of whack in this city. Too much growth too quick and things have gotten out of perspective. Theres always going to be people at the low end of the wage spectrum and these people need somewhere live. Every city has issues with affordable housing and Calgary like all these other cities needs to work to address it.
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Yup, just look at the things Vancouver has tried. Affordable housing is a nice idea, but no one wants it in their back yard. And then when it gets built, you end up with a slum that drives down property values all around. It's not an easy problem to fix by any means.