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Originally Posted by Ozy_Flame
Regarding home ownership, I know it's tough out there for millenials and gen z'ers but until they start moving to places like Saskatoon, Winnipeg, Regina, or Edmonton, then I think part of it is city preference. Heck, cheap homes can still be had in red deer, Lethbridge and Medicine Hat.
Calgary is a highly desirable city but home and lease costs are rapidly inflating and show no signs of abatement. It would seem to me that is some out of province folks are really moving for home prices they might need to prioritize what's important. Personally being 'an hour from the mountains' might need to take a back seat so you can have a roof over your head.
Guts me that born-and-raised Calgarians who want to stay are being priced out of their own city.
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Housing inflation is a wealth transfer from young to old. This is a national (international) disaster and the only fix is to tax housing gains until they are not a suitable investment. Of course, neither the government nor majority of home owners have the appetite to do that because GDP is built on housing wealth. As a millennial who owns a single-detached house in Calgary, I would be happy to see house prices crash tomorrow.