Quote:
Originally Posted by jinxx123
I have no problem living there for a month or so if it means I can afford capital gains tax on six figures!
Is it just me, or is it unbelievable how much real estate in Calgary has boomed in the last two years? I was talking to a friend at work who bought a house in Kincora a few years ago, and she remembers being blown away that the house cost over $200,000!!! Ahhh.... the good old days.
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Market value might be high but right now peoiple are not buying like they were a year ago. Many houses are:
1 -Sitting on the market and not selling
or
2 - People are selling their homes still at a gain but taking much less than they list it for.
Only going to get worse for sellers if/when interest rates (mortgage rates) increase.