Quote:
Originally Posted by Slava
I guess I’ll be “that guy” and ask about what affordable really means. You can buy houses in Calgary today for say $290k. Are they in the most desirable community? No (maybe by Avenue standards they rate higher, but let’s not delve into this!). That means a 20% down payment of ~$60k, and there are insured mortgages that require far less down. I think the mortgage payment on something like that is about $1500-$2000/month. This is where I begin to wonder where we’re going with this topic.
If we’re saying there are no affordable options to buy, that’s pretty different than saying “I like the houses in the higher end neighborhoods, and they should drop in price so they’re more affordable”. I’m not entirely sure which path we’re looking at here, though?
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Can you get a house in Calgary for 290k? Even a cheap one? I checked MLS and found 0 listed.