House Prices Drop in Calgary in June

[Shazam]

Originally Posted by Hemi-Cuda

it sucks for those of us who are looking to buy their first property. i'm single and only qualified for a $140,000 mortgage, which means that i'm priced out of buying anything in this city. when i first moved here in 2002 as a student, that kind of money would have gotten me a nice sized house with a decent sized lot. now it can't even get me the tiniest of condos

Solution: marry a sugar mommy.

[c.t.ner]

Originally Posted by InCoGnEtO

Speaking of renting, my new place is right across from foothills hospital, and I would like to get a roommate...where, at foothills hospital, can I post something to advertise the room for rent?

Use calgary.craigslist.com It's a very low-key place to find quality roommates. I ran an add there early on a longweekend monday morning and recieved 15 responces by 3:00pm. Zero crazies, all round professionals.

This city' housing situtation is completly unsutainable. Sure it'll slow down for this summer and then sky rocket for then next couple of years again, but the bubble will eventually burst. (Insert manaical laugh) I don't think anyone starting out can even fathom a 325,000 dollar duplex or condo and that certainily isn't going to attract anyone to live here.

I caught this graph on kottke.org today about the rising American Housing markert.
http://graphics8.nytimes.com/images/...aph2.large.gif

[Robbob]

What makes the situation worse is that if there is any deal that comes up the real estate agents pick them up. There was a grow op house in Braeside that was a bid system. The house (or should I say the land) was 149900 which is a great deal if you know people in the construction business. Last I heard there were 8 bids and a few of them were from real estate people.

It does make it hard for those that want to get a house to live in rather then to flip but thats life. Just have to cross your fingers and hope you put in the best bid.

[V]

I just can't wait for the bubble to burst. I'm going to be so ready for it. Hopefully it'll happen in a couple years, though. I need to sell my rentals first!!