Real estate in Calgary - another bubble?

[troutman]

3D House of Pancakes

[rohara66]

3D printed homes... in Canada.... yea, not a chance in our lifetime (or ever).

[Bill Bumface]

Originally Posted by boogerz

Does anyone truly want to live in a 40-100 year old house that may or may not up to modern building code...?

Yes. Neighbourhoods of identical cookie cutter houses depress the crap out of me.

All of the old neighbourhoods started out like that, but the time component had people change their houses, others knocking down and rebuilding and most importantly all the trees and greenery that get killed by construction and leave you starting over.

I personally like old houses to live in because I enjoy all of the old-timey stuff for some reason. I also like living in a neighbourhood with a diverse mix of scenery, styles and mature greenery.

[blankall]

Originally Posted by Bill Bumface

Yes. Neighbourhoods of identical cookie cutter houses depress the crap out of me.

All of the old neighbourhoods started out like that, but the time component had people change their houses, others knocking down and rebuilding and most importantly all the trees and greenery that get killed by construction and leave you starting over.

I personally like old houses to live in because I enjoy all of the old-timey stuff for some reason. I also like living in a neighbourhood with a diverse mix of scenery, styles and mature greenery.

You'll also find that the build quality of stuff pre-1980s is often better than a newer home. You may be better off spending $150-200k renovating an older home than buying a newer build.

That being said, there is a ton of stuff built between 1980 and the early 2000s that is absolute garbage.

[peter12]

Originally Posted by rohara66

3D printed homes... in Canada.... yea, not a chance in our lifetime (or ever).

Why not? Manufactured homes cut down on costs, are of high quality, and with relaxed zoning could lead to much better neighbourhoods.

[topfiverecords]

Originally Posted by peter12

Why not? Manufactured homes cut down on costs, are of high quality, and with relaxed zoning could lead to much better neighbourhoods.

Costs might be cut but it’s not passed to end consumer because the market sets the price. Zoning doesn’t need to change, there’s no restriction on manufactured homes. Delivery of homes to infill properties is costly and difficult.

[Knightslayer]

Originally Posted by Bill Bumface

Yes. Neighbourhoods of identical cookie cutter houses depress the crap out of me.

All of the old neighbourhoods started out like that, but the time component had people change their houses, others knocking down and rebuilding and most importantly all the trees and greenery that get killed by construction and leave you starting over.

I personally like old houses to live in because I enjoy all of the old-timey stuff for some reason. I also like living in a neighbourhood with a diverse mix of scenery, styles and mature greenery.

Yup, I love the old homes in old neighborhoods. Besides, you don't have to live in one that isn't up to code. Plenty of renovated up to code older homes for sale in nice neighborhoods.

Neighborhoods like Mckenzie Lake depress me (no offense to anyone who lives in mckenzie, to each their own).

[blender]

Originally Posted by blankall

You'll also find that the build quality of stuff pre-1980s is often better than a newer home. You may be better off spending $150-200k renovating an older home than buying a newer build.

That being said, there is a ton of stuff built between 1980 and the early 2000s that is absolute garbage.

Quoted for truth.
I've been building and renovating houses for the last 30 years.

Its important to remember that there are no absolute certainties; not all old houses are well built; not all late 20th century houses are ####. But, generally speaking there is a definite trend that does hold true.

The main benefit of old homes is their breathability. They tend not to get moldy as moisture can escape easily. The houses that are sealed but not ventilated are the worst, especially when moisture finds its way into the wall cavities.

That said, renovation of pre 1990 homes is expensive and hazardous as there are a lot of building materials in those homes that are harmful to demolish, and special measures need to be taken when working around them.

[tvp2003]

Originally Posted by blender

Quoted for truth.
I've been building and renovating houses for the last 30 years.

Its important to remember that there are no absolute certainties; not all old houses are well built; not all late 20th century houses are ####. But, generally speaking there is a definite trend that does hold true.

The main benefit of old homes is their breathability. They tend not to get moldy as moisture can escape easily. The houses that are sealed but not ventilated are the worst, especially when moisture finds its way into the wall cavities.

That said, renovation of pre 1990 homes is expensive and hazardous as there are a lot of building materials in those homes that are harmful to demolish, and special measures need to be taken when working around them.

I’m curious — what do you attribute that to, especially as it relates to Calgary? Different materials? Different building designs/codes/techniques? Better (or worse) workmanship? All of the above?

[#-3]

Originally Posted by tvp2003

I’m curious — what do you attribute that to, especially as it relates to Calgary? Different materials? Different building designs/codes/techniques? Better (or worse) workmanship? All of the above?

We've been sealing houses up tighter and tighter for energy reasons, and with anything you are making a trade off where there are plus's and minus's. Plus's mainly being energy efficiency, consistency of temp., cleanliness.... Where is the older houses are more expensive to heat, drafty, dusty... But in the trade off the newer house is higher maintenance, you need to vent moister properly, keep exhaust clean... Problem the higher maintenance newer houses, is your average person doesn't know how to keep it up.

No too difference from car's these days, lots of complicated stuff to up keep to the point you don't really have back yard mechanics taking care of their cars anymore (at least not in the scale we used to), but their safer and use less gas.

[blender]

Originally Posted by tvp2003

I’m curious — what do you attribute that to, especially as it relates to Calgary? Different materials? Different building designs/codes/techniques? Better (or worse) workmanship? All of the above?

The single biggest problem with modern air barrier construction is lack of detail in sealing the air barrier. Every penetration in the wall assembly has to be sealed against air intrusion from the inside. I've seen many cases where the air barrier is not detailed around electrical boxes for example and there is mold in the fiberglass insulation where moist air is condensing on the cold areas of the wall assembly like the back of the exterior sheathing.

2012 and 2018 building code has cracked down on sealing issues and mandates a continuous running principle exhaust fan, and more and more homes are being designed with HRV systems which help a lot.

[Yoho]

https://twitter.com/user/status/1436539052036173824

[blankall]

https://ca.finance.yahoo.com/news/ho...161742679.html

An estimated $10 billion was gifted by family for the purpose of buying real estate last year, with 30% of purchases involving a gift.\

https://globalnews.ca/news/7881338/h...f-mom-and-dad/

Real estate craze and BOMAD worsening inequality
The housing market has contributed to rising economic inequality for years, and the pandemic real estate craze has accelerated that trend, says Ricardo Tranjan, a political economist and senior researcher with the Canadian Centre for Policy Alternatives.

On the one hand, Canadians who’ve been able to keep their jobs and save up during the health emergency are engaging in baffling bidding wars, paying vastly over already sky-high asking prices, Tranjan says. On the other hand, lower-income workers, who have been disproportionately affected by the pandemic-linked economic downturn and are more likely to be renters, are now in some cases facing evictions, he adds.

The mind-bending home price appreciation much of Canada has witnessed over the past several months is also widening the wealth divide between the house-haves and have-nots, Tranjan notes.

“People who get in, managed to buy their home — even if they struggle to to to save that down payment. even if the mortgage itself takes on a large part of a paycheck — over time they are accumulating wealth and really fast-growing wealth,” he says.

Those gains are boosting the net worth of homeowners while leaving behind many renters who aren’t able to save much, Tranjan says. In March, he published a report showing that of the 3.4 million of renter households who depend on employment or self-employment to pay their landlord, more than 40 per cent have less than one month’s worth of income saved.

The fates of homeowners and renters are going “in very different directions,” Tranjan says.

A 2019 study by RBC found that more than 90 per cent of surveyed parents with adult children between the ages of 18 and 35 were providing financial support. And nearly half were still supporting children aged 30 to 35.

And when it comes to purchasing a home, it’s mostly parents and grandparents who have themselves reaped the benefits of homeownership who are in a position to help, Tranjan notes.

He calls this “an intergenerational transfer of wealth” that he says is “corroding” Canada’s middle class.

[Calgary14]

I am reading Wilful Blindness right now and it's been very interesting so far. The amount of money laundering within the Canadian real estate market (specifically Vancouver) is shocking. Lots of cash payoffs, bribes, etc. It's no wonder housing is no longer affordable in Vancouver. Hopefully the same doesn't happen to the Calgary real estate market

[Johnny Makarov]

Originally Posted by Calgary14

I am reading Wilful Blindness right now and it's been very interesting so far. The amount of money laundering within the Canadian real estate market (specifically Vancouver) is shocking. Lots of cash payoffs, bribes, etc. It's no wonder housing is no longer affordable in Vancouver. Hopefully the same doesn't happen to the Calgary real estate market

It will all be corrected with the big quake.

[Hack&Lube]

Originally Posted by Johnny Makarov

It will all be corrected with the big quake.

I remember all my relatives waiting for that since the 80s.

When is the Lex Luthor scheme going to work?

[Fuzz]

Originally Posted by Hack&Lube

I remember all my relatives waiting for that since the 80s.

When is the Lex Luthor scheme going to work?

Today, or 100 years from now. Earthquake prediction isn't really like predicting when the sun rises.

[Winsor_Pilates]

Originally Posted by Calgary14

I am reading Wilful Blindness right now and it's been very interesting so far. The amount of money laundering within the Canadian real estate market (specifically Vancouver) is shocking. Lots of cash payoffs, bribes, etc. It's no wonder housing is no longer affordable in Vancouver. Hopefully the same doesn't happen to the Calgary real estate market

Alberta is already the highest money laundering province in Canada, according to reports.

[burn_this_city]

Originally Posted by Winsor_Pilates

Alberta is already the highest money laundering province in Canada, according to reports.

The report from the BC government that was based on nothing. Pretty sure they took total GDP and a blanket % and said this was money laundering.

[Weitz]

Originally Posted by Winsor_Pilates

Alberta is already the highest money laundering province in Canada, according to reports.

Source?