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The price increased to 450K from 250k in less than 2 years for a 1900sq feet house. It is same as Toronto. Is it still cheap? Don't cheat other people.
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. {4 Q! d7 e$ }' b9 Q6 GI agree that the house price will not decrease in Toronto or Vancouver. However, here it is quite different. The booming is due to oil and sand projects. I don't know when the price will go down. However, I know it is near the top.5 ]& C8 o: j5 N5 b1 Y% i
( q' p4 S( m6 j; X. XOnce oil and sand projects design is near completion. Many people such as draftsman, technologist and engineer will be layed off. If that is the case in 2 or 3 years, that will be the time for the house price going down.
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It is normal for the house increase 3-5% per year. However, it increase 330% in less than 2 years (for example 250k increased to 450k with 60k down payment) here. The market is creazy and some people are crazy too.
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If you were right and I were wrong in 2 or 3 years, many people will choose to buy a house in Toronto or Ottowa rather than here. Do you agree?
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% Z' i/ ~7 m: n5 xTo sum up, it is not a good time to buy a house either in Calgary or Edmonton. The game is over. |
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