Watching this channel since the cruel-insane times of late 2021 has been a massive help in my personal research. I ended up moving to Calgary a few months ago.
Totally get it. We sold a rental in Red Deer last year and still wasn't worth what we paid 17 years ago. Trust me... Edmonton will have it's turn and over the coming couple of years, you could see that change!
nice to hear a bit of oil history thrown in there to realized how oil might tie to realestate in calgary at some point if I'm not mistaken. Anyway another oil crash might do just that. good content 👌
Whoever can afford, or have enough downpayment should buy their own home, because mortgage rates won’t go down and the money you pay for the rent just goes down to the drain. In my humble understanding buying a home is a wise choice.
Hi, I am thinking of buying an Investment condo and what holds me from making the final decision, is, in my opinion, the attractiveness of condos will be significantly decreasing with the interest rate cuts and increased affordability. I am under impression that the price increase in the condo segment has been happening only due to the affordability issue. Your thoughts on this? Thanks
Thank you for watching and commenting. My question to you is do you think affordability will return to the market? Want to chat more about this we can do it here -> www.chamberlaingroup.ca/contact/
Condo owners always struggled and sold their properties at a lost, that was a reality here in alberta for many years. Things changed now however I believe condos will eventually go back to that as condo fees rise and owning a condo is just so restrictive compared to owning a house style property. However now they are booming
Fun fact, this video was filmed right next to my young life stomping ground and you actually walked past one of my best friends house. He doesn't live there anymore, but it's like legit right on the right at about 2:40 seconds.
I've spoke to probably a dozen or so people about their new homes, I have a housing developer for a client (they do fantastic work) but even they'd admit too many new homes have major issues, from shifting floor and boards lifting, moisture issues in the roof, major leaks from foundations and good luck getting the builder back in to perform warranty work. Personally I'd say find a home in the 2008-2017 range , all of the major issues have already cropped up by that time and leave some type of sign of a problem if you keep a sharp eye out. Its still modern construction so you shouldn't have any major foundation or structural issues and the roof and siding has probably recently been replaced due to the major storms we've had the past few years.
Why is that the Calgary market went into recession from 2014 to 2020 which also caused the property prices to go down to dirt cheap rates? and what caused the prices to sky rocket in 2021? As far as the job market is concerned has it even changed lately or has it been the same (that it was from 2014 to 2020) ?
Prices skyrocketed in 2021 because of absolutely unprecedented events like societal lockdowns & “health” mandates. Hello…?? Now, more & more Canadians have woken up to Alberta and not sure that'll slow down anytime soon.
@sovereignty14 the question is, did economy pick up which I don't think it did. Hello? The same type of jobs present even in 2021 till date plus a few large oil companies laid-off staff
@@sandeeptanjore1253 , again, the unprecedented insanity of recent years is what is behind all the migration across Canada; jobs are relatively a lesser issue.
@@Yelllowchild7 , yes, after the unprecedented lockdowns and the advent of working from home, much more attention is on Calgary than ever before, unfortunately, particularly from foreign money that leads speculation practices.
“Sleep at night fund” Part 1 = 6 months of needs. Part 2, do you have an average of how much should be saved by type of property? Just an idea? Thanks, love your videos. 😊
How much to save for property types actually depends on you personally and how much you want monthly payments to be. Lets chat here so we can get that sorted for you www.chamberlaingroup.ca/contact/ Thank you for the kind words. Appreciate you watching.
All nice and dandy until the price of oil drops by an important margin then we are back at 2015 discounts and the national average will mean absolutely nothing ....
"[interest ratese] they're going to come down in the coming months" . why would you assume this? even the BoC is terrible at forecasting needed rate changes until the last second. they could easily go the other way to 10%+
They won’t be going up. And we won’t see them lower than mid pandemic either. There’s a balance that will be found at some point in the coming months or years.
@@ChamberlainGroup you are clueless of economics that 100%. 2024-2025 world will see a gigantic economic crisis mark this - you just amature trying to pitch more sales that all. No real advice.
Multiple offers? just feel so bad that I had to sell my home for a song in 2020 (after seeing the house prices go down rock bottom from the recession of 2014)
Interest rates are definitely going up in 2025. After the politics in the States are cleared up they will raise again as the US economy is a beast and is growing despite the increased cost of borrowing.
The mayor and her cronies will drive the prices up with her blanket rezoning , this wont increase supply , it will simplely increase profit for developers
Currently a lot of speculation is going on in Calgary, this accounts for majority of the inventory. Once unemployment, or a real recession hits. There will be a lot of inventory offloading. Even Toronto, Vancouver was not sustaining 1 month of inventory…
I'm not sure how much inventory will be offloaded here in Calgary. Will be interesting to see how it plays out. We are so far from what we need to be for inventory levels in Calgary that it's hard to truly see what will happen.
Calgary has been on the back-foot for the better part of 10 years, 2008-09 housing market crash (US based but still impacted Canada), 2015-2018 oil and gas crash and then got hit with COVID just as we were back on our feet. There isn't that much offboarding to be had especially when you consider population growth for the City, if there is any don't be surprised for the top earners or banks to start buying up properties to drop infill homes in that spot for even higher than market rate and just sit on them as prices go up. Not only that a lot of owners resigned mortgages around the COVID time period and will be locked in for another 2-3 years. The COVID recession already hit so unless another economic disturbance comes along this is the new norm for home prices, assuming of course the Fed doesn't actually pass any meaningful changes to address the housing issue.
Lol... nope... we want more supply so then there is less competing offers and we are able to actually help buyers find properties and then prices will stabilize. Totally the opposite! This market is hard for everyone involved in it.
I just don't support donations because for example top dog red cross makes between 700-800k a year. To me it's pure scam. That's why I asked. I do help but directly from my hand to the person in need. @ChamberlainGroup
