Calgary Real Estate predictions?

[tvp2003]

Originally Posted by darklord700

If you work DT, you probably get 4 week plus 5 days of flex days on average. Plus 52 weekends and 12 stat holidays, there'll be 141 days in a year you don't commute to DT, more if you have Sunny Friday off. For about 224 days in a year you spend extra 15, 20 minutes more on the road, fine. But for those 141 odd days, the suburb will give you and your family far better amenities. It's a trade off but I think the pain of extra commutting is over-rated.

Using your math, 224 days x 30 minutes (15 minutes round trip; let's not round down just because it's convenient) = 6720 minutes = 112 hours per year. 112 hours! For me, I was taking a bus into downtown because I couldn't afford driving (i.e. gas/parking). My time savings was closer to 60 minutes a day, or 112 x 2 = 224 hours!

I'll be the first to admit that I probably don't use the "extra" time as constructively as I could. But if the comparison is being in a car stuck in traffic, or on a bus or c-train packed with people, there really is no comparison at all (for me). I tried driving from the burbs into downtown every day. HATED it. I've also tried waking up extra early to try and "beat" the traffic into downtown. HATED it. Do I value that extra time/lifestyle versus having a bigger house in a suburban neighborhood setting? Yes I do. Of course, not everyone does (nor should they).

[Bill Bumface]

Originally Posted by Red

Yes, but the end result is that there are hardly any kids in inner city. People tend to crave space when there are 5 of them under one roof. Hard to blame them.

Anectdotaly, it's changing. I'd be curious to see inner city census data.

I know lots of people slugging it out with 3 or 4 people in 1000 square feet.

It's really tough stuff... you know, having way more space than the rest of the world, yet still haven't people tell them they can't believe the cramped squaler they are living in... but they get by.

[darklord700]

The reason I don't value the convienence of Calgary DT is that other than time saving in commute, Calgary DT doesn't offer much of anything else. I almost never come downtown during the weekends.

In comparision the Vancouver DT offers a lot more dinning and entertaining options and that's another story to pay top dollar living in Vancouver DT.

[kevman]

Originally Posted by Red

Plus, you will spend more than that driving your kids to various activities or school when you live in inner city. These same things are more likely accessible on foot in the burbs so no need for me to escort them.

That's weird. As a kid that grew up in the inner-city I walked or rode my bike everywhere. What great amenities do the suburbs offer children that the inner-city doesn't? The only one I can think of is leisure centres. I had a pool close by but it was only open 2 months of the year.

In my experience the only difference between kids that grew up in the suburbs vs. kids that grew up in the inner-city is that in high school suburban kids have cars while inner-city kids don't. This obviously makes suburban kids cooler because having a car when you're 17 is way more rad than walking to school. This also facilities suburban kids the ability to go smoke pot or make out on the bluffs over looking the city while the inner city kids resort to alleys.

Oh and suburban kids gets nicer schools. They're not 100 years old with asbestos, kooky additions and shared lockers.

All that said the times are a changing and my view of growing up in the inner-city is probably different than today's reality. Almost every bungalow that my friends and I grew up in is no more.

[Red]

Originally Posted by hulkrogan

Anectdotaly, it's changing. I'd be curious to see inner city school enrollment.

I know lots of people slugging it out with 3 or 4 people in 1000 square feet.

It's really tough stuff... you know, having way more space than the rest of the world, yet still haven't people tell them they can't believe the cramped squaler they are living in... but they get by.

What point are trying to make here?

We all know that you can watch the Flames on a 13 inch B&W TV, but why would you if you don't have to? Is it a crime to strive for more comfort?

[darklord700]

Originally Posted by tvp2003

For me, I was taking a bus into downtown because I couldn't afford driving (i.e. gas/parking). My time savings was closer to 60 minutes a day, or 112 x 2 = 224 hours!

I get it that you are not having fun standing in a bus for those 224 hours a year. But what about the other thousands of hours a year you spend inside your house? Would you rather cramp in a inner city house than spend them in a more spacious suburb house?

But my point is that most people over-rated the 15, 30 minutes of pain and undervalue the enjoyment they got from having a bigger and better house for the other 90% of their waking hours.

A lot of the McMansions are ugly, I agreed. But same with those infills that are so narrow they look like trailer park houses and cost obscene amount of money.

Not to say you are wrong to live inner city and to each their own, everyone has their own priotities.

[DFO]

Originally Posted by darklord700

I get it that you are not having fun standing in a bus for those 224 hours a year. But what about the other thousands of hours a year you spend inside your house? Would you rather cramp in a inner city house than spend them in a more spacious suburb house?

But my point is that most people over-rated the 15, 30 minutes of pain and undervalue the enjoyment they got from having a bigger and better house for the other 90% of their waking hours.

A lot of the McMansions are ugly, I agreed. But same with those infills that are so narrow they look like trailer park houses and cost obscene amount of money.

Not to say you are wrong to live inner city and to each their own, everyone has their own priotities.

What is with the fallacy that 'inner city' is just condos or infills on 25' lots? I'm pretty happy in Renfrew on my 50' lot with a 2600 sq ft house and big back yard. I'd say full size lots outnumber subdivided 25' lots by a healthy margin. The choice is there but it just comes with a premium in price. For my wife and I it's a lifestyle choice - I'd rather shoot myself in the face than have to be in a car for 20 to 40 minutes every morning coming into downtown. My leisurely 30 minute walk or 10 minute bike ride is more beneficial to my well being.

[troutman]

I would say that my kids have far more opportunites for enrichment in Kensington, then we ever had in Springbank Hill. We are within walking or biking distance of so many recreational and cultural opportunities. There is always something going on, whether it is a regular or random event.

[Bill Bumface]

Originally Posted by darklord700

The reason I don't value the convienence of Calgary DT is that other than time saving in commute, Calgary DT doesn't offer much of anything else. I almost never come downtown during the weekends.

In comparision the Vancouver DT offers a lot more dinning and entertaining options and that's another story to pay top dollar living in Vancouver DT.

You're doing it wrong?

Downtown, and the surrounding areas are a pretty big draw on evenings and weekends, and it's not exactly hidden. Try find a parking spot in Kensington on a Saturday afternoon.

[Bill Bumface]

Originally Posted by Red

What point are trying to make here?

We all know that you can watch the Flames on a 13 inch B&W TV, but why would you if you don't have to? Is it a crime to strive for more comfort?

I've done both.

It's more like a 40" flat panel that you sit 6' from, so it's just fine, or an 80" flatpanel that is 30' away, but you can impress your friends with the numbers.

Smaller houses don't have to be dumps. I enjoy the bigger yard. I enjoy getting to spend 6 hours every evening in and around my smaller house than 4 hours in my giant vinyl and stucco mansion with 1 hour to get there and then 1 hour driving to and from Costco to get milk.

I've ruined another one of these threads. I'll stop.

[V]

I find that people that live inner city and use transit vastly underestimate their commute time. Walk to the bus, wait for the bus, wait for the bus to fight through traffic while stopping at every block, walk from the bus stop to work. I didn't find my commute was much shorter than when I drove and lived in the older burbs.

Now I have the best of both worlds, though. I live in a parasite community and work 6 km from my house, which on average is an 8 minute commute, door to door. Parks and pathways are everywhere, recreational centre is a 10 minute walk away, shopping and traffic is way quieter than in the city. This is the way to do it.

[kevman]

Originally Posted by V

I find that people that live inner city and use transit vastly underestimate their commute time. Walk to the bus, wait for the bus, wait for the bus to fight through traffic while stopping at every block, walk from the bus stop to work.

Don't forget curse that you can't get on the god damn train cause it's full. Again.

[Bill Bumface]

I clocked my bike to work one day in the summer because I'd always told people when they asked that it was 10 minutes, but I was pulling that out of my butt. I was wondering if I was a cronic underestimator like all.

It was 6 minutes.

In the winter when it dumps snow during the work day and they haven't cleared it after work it's been as bad as 14 minutes. So I still tell people it's 10 minutes, even though the worst case happens about 5 times a year.

I actually like my wife, so for me getting to see her for an extra hour every day is awesome. Maybe that will change when I have kids and I'll be making up excuses to work overtime.

[V]

When I bike to work it takes me 13 minutes, but then another 15 minutes before I'm showered and at my desk. I wouldn't enjoy spending the day in my sweaty clothes, so I wouldn't bike if I couldn't shower.

[Burninator]

Originally Posted by darklord700

The reason I don't value the convienence of Calgary DT is that other than time saving in commute, Calgary DT doesn't offer much of anything else. I almost never come downtown during the weekends.

In comparision the Vancouver DT offers a lot more dinning and entertaining options and that's another story to pay top dollar living in Vancouver DT.

Eh? Almost all the good restaurants are downtown/inner city. My second biggest complaint living in the burbs is the restaurant selection. All chain restaurants and mediocre pubs.

[Bill Bumface]

Originally Posted by V

When I bike to work it takes me 13 minutes, but then another 15 minutes before I'm showered and at my desk. I wouldn't enjoy spending the day in my sweaty clothes, so I wouldn't bike if I couldn't shower.

But that is 15 minutes you don't spend showering at home, so 15 minutes later you set your alarm before leaving your house, so it should be a wash.

My ride to work is downhill or flat, so I dress down and never get sweaty. I did forget to add that getting dressed/undressed for winter biking takes probably as long as the ride itself.

[I-Hate-Hulse]

Originally Posted by V

I find that people that live inner city and use transit vastly underestimate their commute time. Walk to the bus, wait for the bus, wait for the bus to fight through traffic while stopping at every block, walk from the bus stop to work. I didn't find my commute was much shorter than when I drove and lived in the older burbs.

Times may be similar but quality of that time is quite different. I've driven to work, I've walked to work, and I now bike to work downtown.

It might be 30 minutes to bike/drive, but I'll take the pleasant bike ride along pathways any day of the week over driving and inching along Memorial or Glenmore raging about this and that as to why it's so slow. That and I don't have to go home and find time to do "cardio" in an exercise routine.

[Calgary14]

I'd love to bike to work but live too far away. I've driven occasionally and it's a bad experience on the best of days so I settle for calgary transit

[ranchlandsselling]

Bye Bye CMHC second home program!

The Crown corporation said late Friday it will stop insuring mortgages on second homes, effective May 30. Anyone who has an insured mortgage will no longer be able to act as a co-borrower on another mortgage that CMHC insures. In addition, it will stop offering mortgage insurance to self-employed people who don’t have standard documents to prove their income.

http://www.theglobeandmail.com/repor...board/follows/

It'll be interesting how this impacts the market. I know realtors sell clients income properties using this program to avoid the 20% downpayment required. I know buyers move up using this program when they're feeling stuck in their current house. Just buy another one and rent out the current one until it can be sold.

I bought my current house and rented it out first before moving in, had it not been for the second home program I would have had to sell the first house or come up with 20%.

Maybe the biggest factor (and this could happen more down the line) is no co-borrower can have a cmhc insured mortgage. So if a younger person wants to by a home and needs mommy or daddy to go in on the mortgage to help it get approved they better not have CMHC insurance.

Also smaller communities might be impacted, Canmore, Sylvan, Gull, Kelowna, Penticton, places where people might be buying vacation homes. Yeah, not a lot of people buy million dollar Kelowna homes without putting 20% down (and cmhc stopped insuring $1.0 plus properties), but I've seen a few condo's, smaller houses bought with 5-15% down and rented out and used as a vacation home at the same time.

[Travis Munroe]

Hello CG and Genworth
CMHC has been a real pita lately. I wouldnt mind seeing some of those profits scaled back!