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Old 03-21-2018, 04:04 PM   #121
blankall
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Originally Posted by Shazam View Post
My first house was $195K in 2002. Monthly payment: $880. Mind you, my first mortgage was extra-special so for parts of it I was paying 0.75% interest.

That same house is now $395K. Monthly payment: $1730

(down payment of $30K)

House prices are sticky (they're not fungible commodities trading on a liquid market) and housing demand is inelastic (people need shelter to not die) so rises in interest rates will not be enough to lower house prices materially.
$880 in today's dollars is $1,187.46. A pretty big difference from $1,700.

That being said, your neighbourhood may have improved substantially. As a city in Canada grows, the inner city neighbourhoods tend to become more expensive over time, as they mature and the city around them grows.
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Old 03-21-2018, 04:55 PM   #122
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you're defensive for no reason this time.
I was being defensive?


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someone said Calgary was 33rd. I asked what the rank was before the current financial and political changes, so there would be some context to the ranking.
Yes and I provided you with the answer and asked your opinion on how that data should be inferred.

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I didn't say any for or against the NDP in my question.
Now that I think about it, I guess one could assume from how you worded the question that you were trying to portray them in a negative way, but I never accused you of doing so. I guess it was too much to ask for you to answer a question or two after I took the time and answered one if yours. At least the irony in how defensive the rest your response that began with you accusing me of being defensive made the post worth reading.

By the way, when in your opinion have I ever had reason to be defensive? Just curious because you specifically stated the i was being ďdefensive for no reason this timeĒ.
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Old 03-21-2018, 07:45 PM   #123
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On a global scale we should always remember that Calgary has some of the essentials of liveability that are almost unparalleled on earth. We are true 1%ers in terms of global standard of living and quality of life:

We are politically stable
Our environment is clean
We have a very safe city
Our healthcare is strong
We have reliable and high quality infrastructure
Our public education is excellent
Our incomes are high
We have a well integrated, tolerant society of people from all over
We have superb recreational amenity
We have a growing vitality in our cultural scenes

Our biggest issue is our commodity-driven boom and bust cycles, which cause a lot of upheaval. The biggest mission has got to be to find ways to smooth that out. It might mean the highs won't be as high, but hopefully the lows won't be as low. As we become bigger, just by consequence of having so many humans our economy diversifies, but we need to really continue to evolve our energy sector and drive some other primary industries to keep that quality of life high.
Things like those make people feel better but itís a bit like convincing yourself youíve got a great personality and should be a great catch. Even if itís true thatís probably not the main criteria your potential mate is after.

Investment drives growth and itís not coming without some advantage in capital, talent, markets or returns. Calgary is not even in the discussion on any of those fronts unless itís an Alberta only discussion.
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Old 03-21-2018, 09:44 PM   #124
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Investment drives growth and itís not coming without some advantage in capital, talent, markets or returns. Calgary is not even in the discussion on any of those fronts unless itís an Alberta only discussion.
But again, compared to what. Compared to Seattle or Boston? No. Compared to Winnipeg or St. Louis? Calgary is still looking pretty good.
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Old 03-21-2018, 10:36 PM   #125
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Scary part for me.

Downtown commercial vacancy rates

Vancouver = 3.7 %
Toronto = 4.4 %
Montreal = 7.9 %
Calgary = 27.8 %

I'm told if this doesn't change soon to expect a big hit on housing prices
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Old 03-21-2018, 10:44 PM   #126
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Scary part for me.

Downtown commercial vacancy rates

Vancouver = 3.7 %
Toronto = 4.4 %
Montreal = 7.9 %
Calgary = 27.8 %

I'm told if this doesn't change soon to expect a big hit on housing prices
This number may be accurate but isn't the full picture. There was a ton of office space from a building boom coming online just as the recession was hitting. It's brutal timing.
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Old 03-22-2018, 02:09 AM   #127
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This number may be accurate but isn't the full picture. There was a ton of office space from a building boom coming online just as the recession was hitting. It's brutal timing.
Yeah bad timing for a couple of big new towers but it's still not a big part overall, I think the herald pegged new office space that never had a tenant somewhere between 3-5% of the vacant space last year. I can't find a lot of info but it looks like even in the early 80's our downtown core didn't suffer near as many business closures as the last couple of years, small business has really suffered this time around.

Our wonderful leaders just don't get the fact that a recession and tax hikes don't mix.
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Old 03-22-2018, 06:23 AM   #128
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Originally Posted by Snuffleupagus View Post
Scary part for me.

Downtown commercial vacancy rates

Vancouver = 3.7 %
Toronto = 4.4 %
Montreal = 7.9 %
Calgary = 27.8 %

I'm told if this doesn't change soon to expect a big hit on housing prices
Industrial and mixed commercial would be an interesting number to see. So many empty bays and buildings these days in the industrial parks.
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Old 03-22-2018, 08:01 AM   #129
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Originally Posted by iggy_oi View Post
I was being defensive?



Yes and I provided you with the answer and asked your opinion on how that data should be inferred.



Now that I think about it, I guess one could assume from how you worded the question that you were trying to portray them in a negative way, but I never accused you of doing so. I guess it was too much to ask for you to answer a question or two after I took the time and answered one if yours. At least the irony in how defensive the rest your response that began with you accusing me of being defensive made the post worth reading.

By the way, when in your opinion have I ever had reason to be defensive? Just curious because you specifically stated the i was being “defensive for no reason this time”.
your question was "So should they be criticized for holding us back from climbing the list or praised for maintaining our ranking in spite of the recession? In your view how did the PCs let us slide from 28th in 2010 when the economy was booming at that time and the NDP were not in office?"

the reason I was curious about the ranking before the change in government and the downturn is that they happened about the same time period.
after 40 some years of PC rule, having a new party run things was a massive change. no more political "same old"

for the first part of your original question I answer neither.
for the second part, how did the PC's let the rank slide from 28 to 33? probably by being entitled dinosaurs who spent like drunken sailors but didn't make sure the money was spent wisely, plus Allison redford and her misguided elitism didn't help.

I just feel like you automatically take any comment about the NDP as an attack and lash out defensively. just an opinion, nothing more.

as to your question "By the way, when in your opinion have I ever had reason to be defensive? "

I think you've sometimes had good reason to be defensive as you can get attacked not for the content of your posts, but for your viewpoint and who you are on this forum. if you never feel that way, or feel you never respond that way, I stand corrected.
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Old 03-22-2018, 11:53 AM   #130
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This thread reads like it could be the definition of "first world problems".

A little perspective is needed here. I think people need to remember that by simply having the ability to put a roof over their thread and food in their stomachs, and not be persecuted for their gender, sexuality, or religious or political beliefs, that they have it better than a lot of people in this world.
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Old 03-22-2018, 12:19 PM   #131
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This thread reads like it could be the definition of "first world problems".

A little perspective is needed here. I think people need to remember that by simply having the ability to put a roof over their thread and food in their stomachs, and not be persecuted for their gender, sexuality, or religious or political beliefs, that they have it better than a lot of people in this world.
So we shouldn't start ringing the alarm bells until our standard of living dips below the developing world?
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Old 03-22-2018, 12:58 PM   #132
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Originally Posted by blankall View Post
$880 in today's dollars is $1,187.46. A pretty big difference from $1,700.

That being said, your neighbourhood may have improved substantially. As a city in Canada grows, the inner city neighbourhoods tend to become more expensive over time, as they mature and the city around them grows.
So the mortgage servicing cost has risen about 40%... What about wages? Without googling, I'd guess that wages in Calgary have seen a similar increase and the overall affordability has remained fairly flat.
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Old 03-22-2018, 01:12 PM   #133
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Calgary has been booming for many years now - you can't expect it to go on forever. Will we see boom times again - I don't know, but I'm not counting on it. I think Calgary has a lot going for it and it will be fine in the future - with or without boom times.
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Old 03-22-2018, 02:46 PM   #134
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So the mortgage servicing cost has risen about 40%... What about wages? Without googling, I'd guess that wages in Calgary have seen a similar increase and the overall affordability has remained fairly flat.
Wages in Canada have remained fairly constant when adjusted to inflation:

https://tradingeconomics.com/canada/wages

https://globalnews.ca/news/3531614/a...nada-stagnant/

Although, there is a lot of evidence to show that there is a greater disparity in wages, with the top earnings earning more, and the bottom earners earning less. Wages have also remained constant, despite education levels going up. People are also working longer hours than ever:

https://www.theglobeandmail.com/repo...rticle4673216/

So despite having more education and working more, Canadians are receiving the same amount of money, but everything is also far more expensive.
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Old 03-22-2018, 03:57 PM   #135
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Perhaps you should follow your own advice:
Aurora Sky


And to call these "simply warehouse spaces" shows your complete lack of understanding of the operation.
Ouch. Maybe he should be using this google thing to catch up on politics and economics too.
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Old 03-23-2018, 12:28 PM   #136
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I say yes, only because it would have been a hoot to be part of the oil boom in the 70's. I just have visions of liquid lunches at Hy's, smoking in the boardroom, driving around in caddies, and all with a lot less corporatism and global eyes on us. Just a bunch of Calgarians making a fortune thinking the party would never end.
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Old 03-24-2018, 10:22 AM   #137
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To the OP, it's up to you.
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