Should I move back to Calgary?

[undercoverbrother]

Originally Posted by SebC

Something I learned about Vancouver is that a lot of the time, you can't really walk on the grass. If you leave the sidewalk you're just wading through mud.

Grass isn't for walking on.

[Hack&Lube]

Originally Posted by peter12

There's no decent place to buy clothes in Vancouver! Sometimes I will go into Haven, but I just order most of my stuff from my favourite stores in Calgary.

Where do you prefer to order your bespoke accoutrements and vestments in Calgary good sir?

During the recent pandemic and economic recession, I've been left with little choice but to purchase prêt-à-porter from the fine clothier George of the Walton family merchants.

[Winsor_Pilates]

Originally Posted by Manhattanboy

My brother who is 6 foot 3, 220 walked into Holts in Van and no joke the salesperson says sorry dude unless you’re a thin gay Asian guy we got nothing for you here.

Holts has to be the worst store in the world.
Their service cannot be worse. I'm glad Nordstrom opened up in Vancouver and has taken away a good chunk of Holt's business I'm sure.

[peter12]

Originally Posted by Hack&Lube

Where do you prefer to order your bespoke accoutrements and vestments in Calgary good sir?

During the recent pandemic and economic recession, I've been left with little choice but to purchase prêt-à-porter from the fine clothier George of the Walton family merchants.

Well, back when I was more corporate, I would get Samuelsohn stuff from O'Connors. I have never done bespoke, but I have done made to measure a couple of times.

[peter12]

Originally Posted by cam_wmh

Pete, go to 'The Shop' off East Hastings. Yes, off East Hastings.
It's an old friend's shop, and get some proper Tellason.

The Shop is good. Very good. I haven't been in in a while, but maybe I should go for some Leather Daddy looks.

[Hack&Lube]

Originally Posted by peter12

Well, back when I was more corporate, I would get Samuelsohn stuff from O'Connors. I have never done bespoke, but I have done made to measure a couple of times.

In all seriousness, my downtown company went to a casual dress code since the Pandemic and it looks like they will stay this way.

I literally have been buying George from Walmart when it's on clearance. They actually have decent looking things now for younger folk and I've gotten a lot of compliments at work for $11 sweaters

[Enoch Root]

Originally Posted by Lubicon

When I graduated university in 1989 Vancouver was one of the places several of my friends moved as it was the centre of hard rock mining. At the time houses were something like $300k (I don't recall the exact about but probably double or more what they were in Edmonton/Calgary.) We couldn't fathom how anyone could afford to buy a place there or live there. There was no way housing prices could continue increasing, there would have to be a crash eventually. That was 30 some years ago.

Interest rates.

In the summer of 1989, a 5-yr mtge rate was 11.75%. A $250,000 mtge resulted in monthly payments of $2,523.

Today, mtge rates are 2.09%. Let's say wages over that 30 years have doubled (I think that is conservative). If we then double the mtge payment from 1989 to today, we can borrow $1,350,000, resulting in a mtge payment of $5,050 (compared to $250k)

In other words, a house that costs 5 times as much ($1.5M vs $300k) results in a mtge payment that is twice as much.

Housing prices have outpaced wages by a significant margin over those 30 years because interest rates have plummeted over that time. However, interest rates are not going to keep going down forever. That same $1,350,000, if interest rates were 5%, would result in a monthly payment of $7,247, which is a 50% jump, and the same increase we saw from the first two sets of numbers 30 years apart.

Housing prices simply cannot continue to outpace wages the way they have for the past 30 years. Someone mentioned earlier in the thread that buying a house was a better investment than putting your money in the markets. That may have been true in an environment of declining interest rates, but it will not be true with rising rates.

Note: someone else mentioned that Vancouver demand is more about foreign interest to come to Canada, and I agree with them that this will keep pushing up the market in Vancouver specifically. Beyond that fact however, the head winds for home prices will be enormous over the next decade.

[peter12]

Interest rates and a reluctance to add supply on pace with population growth. The only cities that have managed to keep housing prices low, such as Calgary, have been able to build enough houses/condos/other units for people to live in.

Vancouver has fallen off so much that our population growth has shrunk and would-be immigrants are moving elsewhere in the Lower Mainland.

[Senator Clay Davis]

Calgary has hundreds of sq/kms to potentially to build more inventory. Vancouver has the ocean, the border, and the mountains all in the way, and I'm sure in Vancouver some communities are doing everything they can to prevent gentrification. I mean by the time you do move here peter there could be five more communities that didn't even exist before you started looking. It's nice to have more inventory purely from a buyers perspective. Of course as a seller and you're not inner city then you hate more communities.

[peter12]

Originally Posted by Senator Clay Davis

Calgary has hundreds of sq/kms to potentially to build more inventory. Vancouver has the ocean, the border, and the mountains all in the way, and I'm sure in Vancouver some communities are doing everything they can to prevent gentrification. I mean by the time you do move here peter there could be five more communities that didn't even exist before you started looking. It's nice to have more inventory purely from a buyers perspective. Of course as a seller and you're not inner city then you hate more communities.

That's why Vancouver has to build up. Over 60% of Vancouver is zoned only for single-family homes.

[socalwingfan]

I can’t help with Calgary, but you also mentioned moving south. If you or your partner have US citizenship that is good, however it is pretty tough to get a work visa here right now. I work for a major bank and we have lost quite a few people recently who couldn’t get visas after theirs expired. Hopefully Biden will help in that area, but it’s something to consider

[Hemi-Cuda]

I could never fathom moving to the US while their healthcare system is such a mess. If you're a 1%'er like peter then I guess that's no issue, but for regular folk having to stay tied to a job you may hate simply because it has good insurance is insanity

[peter12]

Well, just wanted to bump this thread as everyone was so kind to respond with their advice - most of which was really good. I appreciated it.

Sadly, our move to Calgary has been postponed indefinitely as my partner and I had an offer accepted on a place in Vancouver.

If you are ever on Main or Fraser, drop me a line and I will get a beer with you!

[Leondros]

Originally Posted by peter12

Well, just wanted to bump this thread as everyone was so kind to respond with their advice - most of which was really good. I appreciated it.

Sadly, our move to Calgary has been postponed indefinitely as my partner and I had an offer accepted on a place in Vancouver.

If you are ever on Main or Fraser, drop me a line and I will get a beer with you!

Where abouts? Fiancee's mom is around E49th between Main and Fraser.

[Sliver]

Peter, what are your thoughts on cowhide rugs like this:
https://www.ikea.com/ca/en/p/koldby-...rown-40222933/

Are they tacky, or do they warm up a place?

Also, congrats on your purchase.

[peter12]

Originally Posted by Sliver

Peter, what are your thoughts on cowhide rugs like this:
https://www.ikea.com/ca/en/p/koldby-...rown-40222933/

Are they tacky, or do they warm up a place?

Also, congrats on your purchase.

I hate them.

[peter12]

Originally Posted by Leondros

Where abouts? Fiancee's mom is around E49th between Main and Fraser.

Fraser and 17th area. We are very happy with our purchase. It's a great hood.

[troutman]

Main and Fraser

East Vancouver’s eclectic communities undergo a housing boom

https://vancouversun.com/homes/westc...ain-and-fraser

[topfiverecords]

Originally Posted by peter12

I hate them.

You seem more like a bearskin rug kind of guy anyway.

[undercoverbrother]

Originally Posted by peter12

Well, just wanted to bump this thread as everyone was so kind to respond with their advice - most of which was really good. I appreciated it.

Sadly, our move to Calgary has been postponed indefinitely as my partner and I had an offer accepted on a place in Vancouver.

If you are ever on Main or Fraser, drop me a line and I will get a beer with you!

word choice is key...........