I guess it depends on province but I heard you have high inflation over there. How is it affecting the average person over there?
I guess it depends on province but I heard you have high inflation over there. How is it affecting the average person over there?
https://www.ctvnews.ca/canada/renters-in-36-of-canada-s-largest-cities-can-t-afford-to-buy-a-starter-home-report-1.6451229
FTA: The unaffordable cities:
1- Richmond Hill, ON 2- Oakville, ON 3- Markham, ON 4- Vaughan, ON 5- Richmond, BC 6- Vancouver, BC 7- Toronto, ON 8- Milton, ON 9- Whitby, ON 10- Coquitlam, BC 11- Burlington, ON 12- Brampton, ON 13- Mississauga, ON 14- Burnaby, BC 15- Ajax, ON 16- Surrey, BC 17- Langley, BC 18- Oshawa, ON 19- Saanich, BC 20- Kelowna, BC 21- Abbotsford, BC 22- Guelph, ON 23- Hamilton, ON 24- Waterloo, ON 25- Cambridge, ON 26- Barrie, ON 27- Kitchener, ON 28- Ottawa, ON 29- London, ON 30- St. Catharines, ON 31- Montreal, QC 32- Windsor, ON 33- Kingston, ON 34- Halifax, NS 35- Greater Sudbury, ON 36- Longueuil, QC
And the affordable cities:
1- Edmonton, AB 2- St. John’s, NL 3- Regina, SK 4- Saguenay, QC 5- Trois-Rivières, QC 6- Quebec City, QC 7- Lévis, QC 8- Winnipeg, MB 9- Saskatoon, SK 10- Gatineau, QC 11- Calgary, AB 12- Sherbrook, QC 13- Terrebonne, QC 14- Laval, QC
I bought in Winnipeg. It’s been working for me. :)
Calgary is considered affordable? Good lord. I can’t even afford proper groceries here anymore
Calgary swings up and down like the weather. I bought in the fall of 2019, and it was very affordable. Fast forward a few years, and there’s busses coming through my neighbourhood loaded with Ontarians looking to buy. House across the street from me, not nearly as modern as mine, smaller, and without any of the amenities I have (heated garage, central a/c, irrigation), nor a finished basement (which I also have), sold for $250k more than I paid for my house, after a bidding war. I could probably realize a $300k+ gain on my house, after not even quite 4 years. Not like I’m going to act on it though, because the next level is just $300k+ more expensive now too, plus I swore I’m never moving ever again and it hasn’t been long enough yet for me to forget the stress of that.
This will alll change in a few years again. When we moved here at the end of 2012, it was roaring then too, and we were priced out. Real estate prices, like everything else around here, are pretty tied to O&G prices.
As a former resident, I can’t imagine the stigma one must feel when getting priced out of that shitty city.
It’s what I’ve never understood about the GTA and its surrounding areas. Like people paying $900k and killing themselves to cover a mortgage that’s 90% of their take home income, to live in like Ajax. No disrespect to Ajax or the 'shwa, but fuck that shit. Same deal with Vancouver too, people doing the same, only to have to commute 1.5 hours to Abbotsford. I got chirped pretty hard last time I was in Vancouver, about how much it must suck to live in Calgary, by someone who lives with their husband and two kids in a one bedroom condo in Surrey. Must be like a ratsnest in there. Call me a hillbilly or a honky, but I feel pretty comfortable knowing I’m backing my car into my 2 1/2 car garage at night, in my 4 bedroom house that I paid probably less for than a one bedroom condo in Surrey with a 1.5 hour commute.