Quote:
Originally Posted by wooohooo
I've looked at many houses in NW calgary to the inner city... there sure are many many houses out there but the prices for those are way high. Everyone is trying to ride the market hoping it would be how it was a few months/year ago, but the thing is, I think people would much rather live somewhere close to calgary or in winnipeg for a nice, affordable house that can house a family comfortably than have a run down house that is barely standing for the same price. But that is just my opinion.
Having done some rentals, prices for some houses have ranged for a 3 bedroom from 1200-1800 dollars, now that is insane. And the cost of a 4 bedroom house - 1400-2000? That probably covers the cost of a mortgage so it would be all the more reasonable for people to own their own house. However most of the people either can't afford to buy a house or they hope the market will fall over the years and be able to buy an affordable house.
The rich just get richer and the poor just get poorer!
|
Well, unless it is subsidized by taxes, rents will usually only be behind the cost of ownership by a small fraction. It depends on when the owner got in, but if someone who is holding a rental property with high equity will re-finance to minimize the mortgage payments and step their rent up to be even with the market. People will ALWAYS take what they can get because the sun doesn't shine forever.
Besides, there hasn't been enough demand for affordable housing so our city, as usual, will have to have a homelessness crisis before anything gets done. It astounds me how much we sit and bitch about the problems that are brought on by a combination of our poor planning and prosperity...