Quote:
Originally Posted by ScizzMoney
If you're going to buy, I'd choose Calgary. That's if you're thinking 5 years anyway. I used to own two rentals here, and sold one last year. This one, I bought for around $310,000 and sold for $400,000. Now that same place is priced at around $330,000.
Housing here I think will still drop a little bit. Housing will bounce back pretty strong I feel though. This is the second recession I've been through in Alberta and as soon as oil comes back and companies are handing out signing bonuses like candy, housing prices will inflate for places in the $400,000-$700,000 range (the easily attainable single income mortgage range). Friends of mine that are in their 50s and 60s are saying that's what happened in the 80s as well. Companies will be fighting for workers and handing out money. There will be a shortage of trades to build houses so the supply of houses will in turn be low. In 2011 the amount of houses here where I was buying that were bought sight-unseen was crazy. If I wasn't in school I'd be buying property here.
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yea having spent the last few years in fort mac, i'm fully aware of the volatility of oil.
thats what i'm thinking too, if compensation is equal for both cities
i might as well try to "gamble" on the real estate market for the 4-5 years that i'll be there for.