no, i dont care about the rates so much as the price....waiting for those to drop but dont think that will be anytime soon and i know it wont drop by much....i guess this is the new normal.
House prices are always on the rise if you extend the horizon to 30-50 years. Yes they are short term volatilities and you just need to wait it out. So buy a property that fits your needs at your budget and enjoy it. Upsize when the market is bearish, downsize when the market is bullish. Happy house hunting.
Wise but upsizing & downsizing regularly when the market suggests is not practical; constantly moving your children around for the almighty dollar is not right.
Do you think removing zoning will decrease the prices in Calgary? Most of the people firmly believes that the only ones who will Benifit from this change would be builders and real estate agents. Even after removing zoning from Vancouver and Toronto, they are still unaffordable. Your thoughts?
First off, real estate agents aren't going to benefit from higher prices. The % of increase of our commissions when prices rise is very small compared to the value. Secondly, I think rezoning could actually increase prices a bit. After rezoning happened in Vancouver and Toronto they didn't decrease. There is a lot to unpack here more than a comment can cover... I appreciate you taking time to comment.
Especially the NE. So cheap before (Relatively) and now rising the most in terms of a % and sometimes even as an absolute #. It will be interesting what will happen when someone can buy in parts of the SW or NW for maybe only 5 or 10% more than the NE.
If you want more supply, builders who build homes without a buyer should get access to 1% loans. I'm 28 and do not want to live in a community with high density. I should have the option of choice, I want to be able to choose the type of community I live in. With all the rezoning uncertainty it feels like I have no choice.
Honestly I don't know why either... that's interesting to hear... sometimes these reports have data that doesn't make sense everywhere, yet they claim it's 'all of Canada' Appreciate you taking the time to comment.
Thanks for the comment. It really depends on your situation, shopping budget and finances. Also the area you’re looking in. Lets chat here so we can create a strategy for you specifically www.chamberlaingroup.ca/contact/
The bidding wars is raising the price to craziness. One house got 15 offers, the sellers came back, telling anyone who want to bid more, they get another chance.
@danca5719 not hypocrisy, just a big circle jerk of people driving up prices. It's terrible and I wish they'd make it illegal to buy homes for investments. Precon only.
@@upsyndromeLol, I don’t believe you, and you don’t need to admit it here, so let’s say if you can afford a multimillion dollars house in Vancouver, won’t you buy one? You are saying what you are saying is just because you can’t afford what other people can. And you try to pretend that you are concerning other people’s lives. That is just laughable. I found that a lot of people who hold the same view as you are ended up buying cheaper houses or condos and selling them for profits. But they then just blame others for making things worse. 😂 good luck man.
I actually went the other way around from what is said in the video. I was gonna buy a home early 2025 but pushed the calendar ahead because of the home sale price increase. Doesn't matter how much the interest rate goes down if you can't cover the downpayment because the price went up 100k 🤷
I agree more homes need to be built. Especially , affordable housing for the less fortunate. I’m not a plan of blanket rezoning but logical and necessity building. Higher density along LRT lines, vacant lands within city limits. Mobile parks that have been vacated for years and still haven’t been built. Within older neighbourhoods, consideration of height, shadowing and impact of neighbouring homes. Change is inevitable so let’s do it consideration of others.
Not only Canadians, all major cities around the world are experiencing price increases on RE. I don’t know why people are always comparing RE today to the 80s or 70s. What kind of uneducated mindset is that?
We need to build more housing in this country, Full Stop. Rezoning is a band-aid solution on the bigger problem. Local/Prov/Fed gov'ts need to cut the red tape, reduce the time needed for developers and builders to build.
I think rezoning is one of the solutions. Anything that’s done to help solve our supply issues on its own is a bandaid issue, however when multiple things done together could make an impact. 🤞
Rezoning is a source of expensive supply. It makes every ruin that would be otherwise affordable extremely valuable to developers who can replace it with million dollars infills. If affordability is the goal we would be building cheap prefabs around roads, single family house is a luxury, not something every single person no matter of income should aspire to own.
@@ChamberlainGroup Whatever worked in other places does not necessarily mean it will work in Calgary. There are open spaces surrounding Calgary. Extend and stretch out the city limits. When single family ends, there will be new faces in the City Hall, including a different mayor next year.
Just to put wood on the fire. Europe did row housing and are redoing them? Why? Think, who wants to hear next door music and arguments when paying over $500,000 for a row house? Hospitals have more stress related illness now than ever before. Calgary's fire department now understands when one house goes up, there are 3 that goes up because this city does not put in policy about materials being used. How far away from each other? When politics are involved, there will be change, but they never think about protecting the citizens. Give money to developers with no cap on the price? Give GST off Materials without any policy about fire proofing the outside of the home? Calgary over spent. When you are redeveloping you need bigger waste management, sewer water even garbage collection. Developers under this new policy will not have to provide parking. Fights for parking? You want to save money on the older areas, just put in condo's, row housing and apt's. CHEAP and MORE TAX COLLECTED on the land space. CHANGE is fine if you think of the people you serve first and put some proper rules in to protect them.
So when the market goes up does that mean the prices of Houses and condos are more Expensive and people can make more Money on Selling And when the market goes down the houses and town houses are more cheaper
Good luck with rate cut. If you cant afford now, you wont be able to afford when rate do come down. Unless you can find a detach with legal basement where you can rent up/down against your borrowing. Detach with legal basement under 800k is a unicorn in Calgary now.
Was talking to a family member this weekend with this exact thing. They have friends that bought new and had to have a suite built in order to qualify.
With legal basement offset the mortgage, in Calgary market it make sense to buy instead of renting. Again, finding that detached turn key with legal basement under 800k its a unicorn… 😂
I have been renting since moving to Calgary last year, and I wasn't planning on buying a house in Canada, since I can just take my money to a cheaper country and buy + live there, but after discussions with a family friend, I decided to buy. I am looking for something from 750-810k, and it should have a basement--legal/finished (if it doesn't, how much does it cost to have it done), as I was advised to get something with completed basement. I am hoping to find something that is new or isn't older than 5 years, and in the South or NorthWest area. Is this pursuit reasonable/attainable? Thanks.
@@ChamberlainGroup Thanks. I will call the number on your website some time this week. Just to make it more clear; I do prefer a detached/single family home. Hope this does not affect my chances?
Don't need to argue man. Everybody just wants to hope to pay less & for everything in society to serve them. It could turn out that we go thru 70's style inflation & rates go up to the teens and THEN those who don't believe now will capitulate & buy at the top of the market, if their bank even gives them the loan at the time. That's just life & human behaviour
“Growing [like Vancouver, Toronto, etc.] is inevitable”… but what happened to _sustainability??_ Tiny countries like Denmark must be in deep trouble because they cannot grow… oh, wait, they're just fine.
The only rezoning that needs to happen is REZONING of the FINANCE SECTOR that brought us to this mess to start with. Your analysis of fight or flight is crap. Direct your theory at the finance sector.
