Real estate in Calgary - another bubble?

[fotze2]

Originally Posted by calgarygeologist

Maybe they can make it a car free development? Traffic is already a nightmare and has been for a long time. We lived beside the South Calgary Community Centre and later at the north end of River Park about 15 years ago and 33rd was a disaster at that time. My mom lives just down the street from OJs so I'm still in the area a fair bit and there is way that traffic flow can be improved. The intersections at 22 street and 33/34 Ave need to blown up redeveloped into something that can manage all the cars better.

Its way worse now. Might be a smart idea but they can't really go back now. I don't doubt that making it miserable now isn't seen as a bit of a cure for the future. They should just install massively priced street parking meters on all the streets and it will solve it. I think if they just enforced existing parking bylaws they could make $50k a day there.

[topfiverecords]

Development on 33rd isn't what causes grid lock on 33rd. The traffic is from those going through to communities on both sides that don't have any other viable option.

Scary development!! Won't somebody think of the traffic, the parking and the children!

[chemgear]

Originally Posted by Hemi-Cuda

So that house has 2 garages? How the hell did that get approved?

[Bill Bumface]

Originally Posted by NuclearFart

No doubt. For that price point I'd go for this absolute beast of a domicile:

https://www.realtor.ca/real-estate/2...gary-pump-hill

You know its good when there is a BeNz out front

$2M with 8000 sq. ft., but you look your wife in the eyes every morning while you take a ####. Alpha move for whoever scoops up this opportunity of a lifetime.

[shermanator]

Marda Loop is [mod edit: stop circumventing the profanity filter] awesome. There's a reason why tear down lots are going for over $1 million. People want a cool walkable neighbourhood but then complain when it sucks to drive through that same neighbourhood. It's the same in similar areas of the city (Kensington, 17th, Inglewood).

That 18 story Coop is never getting built, there's no way the community will allow it. Maybe an 8 story Coop gets approved, but even that's a stretch.

They are putting lights at both 34th and 20th and 34th and 22nd, which should help the [mod edit: stop circumventing the profanity filter] of dealing with a 4 way stop and heavy pedestrian traffic. I've been almost hit countless times at those intersections and have also almost hit pedestrians as well.

[you&me]

MOD EDIT: Snip profanity in quote

Agreed - Love Marda Loop.

I said the same thing about 18 stories "the community would never"... and was told "the city doesn't care"... Guess we'll see.

Something needs to be done, especially at 34th and 22nd - that one is flat out dangerous.

[fotze2]

Originally Posted by topfiverecords

Development on 33rd isn't what causes grid lock on 33rd. The traffic is from those going through to communities on both sides that don't have any other viable option.

Scary development!! Won't somebody think of the traffic, the parking and the children!

middle finger

[Cappy]

Originally Posted by blankall

Calgary desperately needs a bunch of semi-self contained communities spread throughout the city. Putting density and commercial space only in the core and having the rest be suburbia is a logistics nightmare. Calgary's population is only going to grow. Any and all kind of development in close proximity to transit should be heavily encouraged.

Sounds like a 15 minute city, commie

[fotze2]

Originally Posted by Cappy

Sounds like a 15 minute city, commie

If any exec downtown bitches and moans about traffic but also mandated their staff to be back in the office (for those 65% that have absolutely no reason to be) they need to get their faces punched in.

[blankall]

Originally Posted by Cappy

Sounds like a 15 minute city, commie

I still don't get the rationale behind the anti "15 minute city" stuff....Are they trying to say that the government is controlling you by not forcing you to spend all day commuting? You can still spend all day driving across town for basic services or driving in rush hour if you want. I'd prefer to have the option to walk to the grocery store and restaurants and take fast transit into work....but to each their own.

[fotze2]

Originally Posted by blankall

I still don't get the rationale behind the anti "15 minute city" stuff....Are they trying to say that the government is controlling you by not forcing you to spend all day commuting? You can still spend all day driving across town for basic services or driving in rush hour if you want. I'd prefer to have the option to walk to the grocery store and restaurants and take fast transit into work....but to each their own.

It does not make sense for sure, no idea how it got grouped into what they have made it. Its never going to happen but its a great goal to aim for. 20 minute city would be great as well. those mid size euro cities are awesome with bakeries and all sorts of shyte nearby. Screw owning a car.

It seems like a marda loop, its a 25 minute city currently and they are trying to get to the 15 minute city, but it seems its gonna be 35 years of disjointed schizo growth where in that 35 years its a 50 minute city with all the construction.

[opendoor]

Originally Posted by blankall

I still don't get the rationale behind the anti "15 minute city" stuff....Are they trying to say that the government is controlling you by not forcing you to spend all day commuting? You can still spend all day driving across town for basic services or driving in rush hour if you want. I'd prefer to have the option to walk to the grocery store and restaurants and take fast transit into work....but to each their own.

They think (not that you can really call it that) that the government is going to lock them into their "zone" and not let them leave.

[trunnelshow]

I'm from a company called HouseSigma and I'm looking to speak to some people in Calgary about their experience using real estate platforms such as Realtor.ca and Honestdoor. If you've used either of those platforms, please reach out to me. Don't worry, happy to compensate for your time!

[Leondros]

Originally Posted by trunnelshow

I'm from a company called HouseSigma and I'm looking to speak to some people in Calgary about their experience using real estate platforms such as Realtor.ca and Honestdoor. If you've used either of those platforms, please reach out to me. Don't worry, happy to compensate for your time!

[Twitchy15]

Recently bought a bigger place the open house was packed. Listed our house and in two full days and partial one day had 50 showings and 10 offers. Two unconditional for list price. We paid 380k in 2017 probably put 45k into the house listed at 450k which I thought was high. Older house small, not a great layout no garage and $$$ to build a garage. Went 60k over ask

[Cappy]

Originally Posted by blankall

I still don't get the rationale behind the anti "15 minute city" stuff....Are they trying to say that the government is controlling you by not forcing you to spend all day commuting? You can still spend all day driving across town for basic services or driving in rush hour if you want. I'd prefer to have the option to walk to the grocery store and restaurants and take fast transit into work....but to each their own.

It's asinine; and it's still prominent.

Look at this thread https://www.reddit.com/r/canada/comm...rzb/?context=3

[blankall]

Originally Posted by opendoor

They think (not that you can really call it that) that the government is going to lock them into their "zone" and not let them leave.

It sounds like the locking in part is the hard part, not the giving people a convenient grocery store option part. After people are locked in, it'd be pretty easy to set up grocery store or office building in that area.

[blankall]

Originally Posted by Twitchy15

Recently bought a bigger place the open house was packed. Listed our house and in two full days and partial one day had 50 showings and 10 offers. Two unconditional for list price. We paid 380k in 2017 probably put 45k into the house listed at 450k which I thought was high. Older house small, not a great layout no garage and $$$ to build a garage. Went 60k over ask

It's cool though. No housing shortage in Canada. Young people just need to stop spending money on anything else and work harder.

[you&me]

Originally Posted by blankall

It's cool though. No housing shortage in Canada. Young people just need to stop spending money on anything else and work harder.

I know that's the common trope - that nothing's affordable; young people will never be able to buy - but I think Twitchy's situation paints a different picture.

Even at a $510,000 sale price, with 10% down, the payments would be ~$2,700 per month. Not exactly cheap, but do-able for a young couple each employed full time, making ~$45k or ~$20/hr.

I think it's more telling that Twitchy's house achieved 3% annual growth; Calgary's market has been relatively flat is still affordable... for now.

[Sliver]

Originally Posted by you&me

I know that's the common trope - that nothing's affordable; young people will never be able to buy - but I think Twitchy's situation paints a different picture.

Even at a $510,000 sale price, with 10% down, the payments would be ~$2,700 per month. Not exactly cheap, but do-able for a young couple each employed full time, making ~$45k or ~$20/hr.

I think it's more telling that Twitchy's house achieved 3% annual growth; Calgary's market has been relatively flat is still affordable... for now.

Nah, good luck with that. $20/hour is going to net you $31.5k after tax. Double that for two people in the house and you have a net pay of $63k. That leaves $5250/month. After utilities, insurance, phones, Internet, property tax, etc. you're at a monthly nut of about $4200. That leaves about $1000 for food, vehicle costs (payments, insurance, registration, maintenance), potential student loans, clothes, entertainment, etc. and we haven't even touched on ongoing household maintenance costs or life emergencies.

Basically, you would be completely out of your mind to spend $510k on a house if you and your partner are making $20/hour. I can't even imagine.