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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.2 {. E1 U$ z4 E* J; N
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I 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.3 o9 p) D1 Y; u3 g1 ~% {
9 o! Y5 S+ @2 C! K0 b7 s8 C# lOnce 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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' _4 d5 B( X% y$ pIt 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.# ~! t& J" `, R* U% h$ i# X; }4 o* P) h
! D6 r9 t. L) |6 B+ L$ fIf 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? + N, X# D. j) w; N4 V
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To 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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