|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
mithridates
Joined: 03 Mar 2003
Location: President's office, Korean Space Agency
|
 Posted: Wed Jul 05, 2006 10:27 am Post subject: Holy shit, Calgary's insane |
 |
|
All my friends back home just bought houses recently, in 2005 and 2006. Look at this article today though:
| Quote: |
House prices to rise 9.2% this year, report finds
Updated Wed. Jul. 5 2006 1:48 PM ET
CTV.ca News Staff
Housing prices in Canada are expected to rise 9.2 per cent this year despite rising mortgage rates, as demand continues to exceed inventory, according to a report released Wednesday.
Royal LePage Real Estate Services said in its quarterly report that the average house price in Canada will be $272,200 by the end of 2006, given current economic forecasts for the balance of the year.
"We are unlikely to see the kind of housing market corrections that have begun to occur in isolated regions south of the border in our country," Phil Soper, chief executive of Royal LePage, said in a release.
"The midterm outlook for the Canadian housing market remains very positive."
Canadian housing prices rose in all major cities in the second quarter, but growth in Western Canada outpaced the rest of the country, especially in the oil-rich province of Alberta, where extraordinary demand outstripped stock.
"The result has been some of the highest year-over-year price increases that have been experienced in any region of this country in decades. This pattern will likely continue for the remainder of the year," said Soper.
Some buyers were priced out of the market -- particularly in the West -- leading them to consider "less established areas" or to rethink the type of housing they want to purchase.
"The rising mortgage rates are regarded as having little to no effect on buyers entering the market," the report said.
While the market was hot out west, the Central and Eastern provinces saw more modest growth.
Growth in the housing markets remained stable in Ottawa and Toronto, as increased inventory levels helped to control the rate of price appreciation.
In Atlantic Canada, inventory increases resulted in a slower rate of price appreciation.
Of the housing types surveyed, the highest average price rise was in detached bungalows, which went up 15.6 percent year-over-year to $292,237.
Prices for standard condominiums saw an increase of 14.2 percent to $208,403, while standard two-storey house prices rose 13.3 per cent to $351,367.
In Calgary, a lack of inventory, a thriving provincial economy and a low unemployment rate drove prices to record-breaking highs.
The price for a standard two-storey house rose 54.6 percent year-over-year to $397,867, while a standard bungalow was up 50.4 per cent at $371,200.
In Edmonton, the price for a standard, two-story house climbed 38.6 per cent to $281,286 while a standard bungalow rose 33.2 per cent to $253,857.
Despite the jump in house prices, the study expects the total number of transactions to rise a marginal 0.4 per cent to 485,000 in 2006, from 483,250 last year. |
54.6 fucking percent! |
|
| Back to top |
|
 |
bucheon bum
Joined: 16 Jan 2003
|
| Posted: Wed Jul 05, 2006 11:05 am Post subject: |
|
|
| still cheaper than housing prices around here. Alberta here I come! (eh not really) |
|
| Back to top |
|
|
Grotto
Joined: 21 Mar 2004
|
| Posted: Wed Jul 05, 2006 1:12 pm Post subject: |
|
|
Buddy of mine is having a house built....about 500,000$.....the house he bought 7 years ago for 175,000$ is on the market for 400,000$ Most likely it will sell in a week  housing prices are absolutely insane out here.
Even in towns an hour away from Edmonton you cant buy a lot for under 60,000$ |
|
| Back to top |
|
|
Tiger Beer
Joined: 07 Feb 2003
|
| Posted: Wed Jul 05, 2006 3:14 pm Post subject: |
|
|
Property investment is the new dot.com.
I've inquired around in Hawaii with several real estate agencies.. they can't seem to get it out of their heads its not 'investment-oriented' purchase, but a potentail place to actually live.
Seems like most places are getting like that.. so many books out there as well on how to do it. Buy a place.. have rentors pay it off.. easy way to wealth. Everyone's doing it who can it seems. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
