@tylesveque2373 true that. I own two houses from that Era in Vancouver, and they're solid. Our residence has rough 14x3 floor joists. You can't nail or screw into them without predrilled, they're rock hard old growth
@@rs7656 work in construction bought a bunch of lumber threw out 2 2x6 and 3 2x4s cause they were split all our gr a lumber goes to other countries we get the shit
My rent has increased 30% in 3 years. After those rent increases, I can only save about $300/month toward a down payment. That's about a third of the rate house prices have been appreciating in Calgary over the past 25 years. If I had enough money for a down payment, I would buy my current apartment or a condo just like it in a heartbeat -- *at this point mortgages are cheaper* But as long as house prices are rising faster than a person can save a down payment, that will never happen.
I’m pretty sure the CHMC knows that other than GTA(Burlington-Oshawa,Brock-EG), Lower Mainland BC and Calgary, rest of the country is pretty affordable provided you have a decent job or a small business. The main focus should be on these areas of the country. A head’s up, Edmonton will also become unaffordable in about 5 years.
New homes built from the destruction of the homes of established Edmontonians through increased property tax forcing Canadians to leave the home they’ve work all their lives to buy only to not afford to pay the increased tax. Older single family homes are torn down to make way for multi-family rentals. Disgusting.
What is happening to prevent these equity firms from buying up all the old buildings and making them unaffordable again? This is why we have LOTS of $13,000+ 450sq ft Apts, but no affordable places to live in Alberta.
Most multifamily apartments are being built for rental purposes. Corporate landlords charge whatever rents the want. People have no opportunity to buy a small apartment then move up on housing spectrum. With high rents people can never save the down payments on single family house.
You know your wages need to be over 200,000/yr to buy a house and afford the mortgage in most Canadian cities, right? Meet the consequences of million-dollar-plus homes.
Another thing the housing companies do to skew the statistics is advertise it at one price, but if you click on the advertisement, it's actually listing for hundreds of dollars more. Also, it depends if you search with criteria, you get a different price for the same place than if you search without criteria or price range.
Are all the companies who built the buildings for tenants properly incorporated? Because Alberta is seeing buildings catch fire ( reasons who cares)… than the fire dept inspection after the fire finds the building is Not to code. So no one can go back to live in the condos that they are still paying mortgages on and condo fees with the insurance.
Plenty of people want an apartment, demand outstrips supply in all major cities in Canada. And thats a fact. Just look at any housing site. 1 add for a rental appartement has 100's of reactions from people
Housing Construction is a race to the bottom dollar cost only to be sold at a maximum profit. This is a recipe for building future slums. 3 year old new built homes in my area, are falling apart already.
Houses are ridiculously priced for the cheap materials used to construct them with tiny yards on top of several neighbours. It is insane. Go to New Brunswick and you will get a mansion on large piece of land on the coast. Bonus is that ROADS ARE EFFECTIVELY CLEANED in the winter! You drive on tar and not thick padded snow. Taxes are well spent! Your dollar goes a lot further too!
I did have five years of residential construction but there not selling. Due to price and tax and interest rates. So hopefully I work till spring. This southern Ontario also smaller town are hard to get permits and as a small boy I don’t blame them. But . I don’t own a tent.
What I would like to see is more adult accommodations around industrial areas, so people could live near where they work, rather than commuting across the city to get to work.
The biggest problem in all forms of Construction is illegal & legal immigrants building without permits & doing crappy quality work. It also doesn't help the the Canadian Inspectors Agency passes all this crap work. Hhhhmmm I wonder y. $$$
Alberta can be boom crazy and then builder will build crazy, construction will boom supply and then demand less, price drop. Thus may not a good view in future in Alberta . CMHC is only theory , not trustable
You are exactly correct. Home prices are at all time highs (ATH), stocks (ATH) etc. It would be much better to park your currency into gold/silver, short term t bills etc and wait for home prices to drop OVER 50%. Meanwhile your gold will have doubled or tripled. Buying a house today is extremely risky unless you know what you are doing. There are always deals.
I'm guessing everyone in this thread forgot housing isn't just an investment. It's a basic need. You might as well be the starving poor to park their money in T-bills and wait for the price of bread to drop.
@@Grizabeebles If you don’t have a large family it would be prudent to rent while waiting for the imminent housing collapse. If you owe large amounts on your home, you will lose it in this recession/depression. It’s an easy choice for me and my family. We will take the short term pain for long term gain, something the vast majority of humans cannot do unfortunately.
@@georgeorwell3501 -- I thought the same thing back in 2007. There won't be a collapse. Look at any demographic chart you please of countries that participated in the Second World War. The "echo" of the "quiet generation" is currently somewhere between the ages of 30 and 15. The Boomers are still in charge, so they're not going to "overbuild" potential income properties when they can keep the housing market constrained and fund their retirement by ripping off other people's kids. Things are just going to get worse and worse until governments are forced to build public housing again.
Houses are ridiculously priced for the cheap materials used to construct them with tiny yards on top of several neighbours. It is insane. Go to New Brunswick and you will get a mansion on large piece of land on the coast. Bonus is that ROADS ARE EFFECTIVELY CLEANED in the winter! You drive on tar and not thick padded snow. Taxes are well spent! Your dollar goes a lot further too!
Doesn't Alberta sent money to Ottawa to be distributed to Quebec and the Maritime provinces in the form of equalization money? Now Trudeau is killing the golden goose and a lot of Albertans want to seperate. Maybe try developing some of your own resources and stop the mooching off Alberta.
I will not buy anything in Canada, unless I can build by myself. Max price with the existing min salaries is $350,000. Period!
😂 enjoy working at McDs
@@vasilypupkin2107 agree with you 💯 percent!
You will own nothing and be happy. That's what's going on.
I wouldn't buy anything in Edmonton new especially if it is built by new Canadians
Why? That beats the old Canadian scam contractors.
@@rs7656 better off to buy something in the 50s or 60s
@tylesveque2373 true that. I own two houses from that Era in Vancouver, and they're solid. Our residence has rough 14x3 floor joists. You can't nail or screw into them without predrilled, they're rock hard old growth
@@rs7656 work in construction bought a bunch of lumber threw out 2 2x6 and 3 2x4s cause they were split all our gr a lumber goes to other countries we get the shit
@tylesveque2373 I framed houses 50 years ago for a couple of years, there were always a few bad sticks in a bundle
My rent has increased 30% in 3 years. After those rent increases, I can only save about $300/month toward a down payment. That's about a third of the rate house prices have been appreciating in Calgary over the past 25 years.
If I had enough money for a down payment, I would buy my current apartment or a condo just like it in a heartbeat -- *at this point mortgages are cheaper*
But as long as house prices are rising faster than a person can save a down payment, that will never happen.
I’m pretty sure the CHMC knows that other than GTA(Burlington-Oshawa,Brock-EG), Lower Mainland BC and Calgary, rest of the country is pretty affordable provided you have a decent job or a small business. The main focus should be on these areas of the country. A head’s up, Edmonton will also become unaffordable in about 5 years.
New homes built from the destruction of the homes of established Edmontonians through increased property tax forcing Canadians to leave the home they’ve work all their lives to buy only to not afford to pay the increased tax. Older single family homes are torn down to make way for multi-family rentals. Disgusting.
What is happening to prevent these equity firms from buying up all the old buildings and making them unaffordable again? This is why we have LOTS of $13,000+ 450sq ft Apts, but no affordable places to live in Alberta.
Edmonton has the lowest priced houses for a larger city.
When you bring in a couple million immigrants in 2 years I guess this happens, only benefit is to developers
I’ll tell you what is happening, they’re still paying the backbreaking trades like crap
And once you start making a decent wage they lay you off to push your wage back down to the bottom
Seems like advertising, omg, too bad nothing is affordable
Most multifamily apartments are being built for rental purposes. Corporate landlords charge whatever rents the want. People have no opportunity to buy a small apartment then move up on housing spectrum. With high rents people can never save the down payments on single family house.
So the Liberlas are now using the CHMC as an advertising agency?
These organizations are the problem!
What a ridiculous country this has become, second largest land mass and resource rich in everything you need to build homes.
You know your wages need to be over 200,000/yr to buy a house and afford the mortgage in most Canadian cities, right? Meet the consequences of million-dollar-plus homes.
Another thing the housing companies do to skew the statistics is advertise it at one price, but if you click on the advertisement, it's actually listing for hundreds of dollars more. Also, it depends if you search with criteria, you get a different price for the same place than if you search without criteria or price range.
Are all the companies who built the buildings for tenants properly incorporated? Because Alberta is seeing buildings catch fire ( reasons who cares)… than the fire dept inspection after the fire finds the building is Not to code. So no one can go back to live in the condos that they are still paying mortgages on and condo fees with the insurance.
Nobody wants apartments.
Plenty of people want an apartment, demand outstrips supply in all major cities in Canada. And thats a fact. Just look at any housing site. 1 add for a rental appartement has 100's of reactions from people
Housing Construction is a race to the bottom dollar cost only to be sold at a maximum profit. This is a recipe for building future slums.
3 year old new built homes in my area, are falling apart already.
Houses are ridiculously priced for the cheap materials used to construct them with tiny yards on top of several neighbours. It is insane. Go to New Brunswick and you will get a mansion on large piece of land on the coast. Bonus is that ROADS ARE EFFECTIVELY CLEANED in the winter! You drive on tar and not thick padded snow. Taxes are well spent! Your dollar goes a lot further too!
How much is this guy's public sector salary?
Lots of people high at lunch building your forms
And how many of those are actually affordable??
ARE MY TAX DOLLARS FUNDING THIS CHANNEL???
I did have five years of residential construction but there not selling. Due to price and tax and interest rates. So hopefully I work till spring. This southern Ontario also smaller town are hard to get permits and as a small boy I don’t blame them. But . I don’t own a tent.
What I would like to see is more adult accommodations around industrial areas, so people could live near where they work, rather than commuting across the city to get to work.
Investors and land developers are the only winners in this game.
Mortgage insurance rates are too high which makes housing even more unaffordable.
And who can afford them ? Greed Greed Greed
Propaganda
The biggest problem in all forms of Construction is illegal & legal immigrants building without permits & doing crappy quality work.
It also doesn't help the the Canadian Inspectors Agency passes all this crap work.
Hhhhmmm I wonder y. $$$
Davis Sandra Martin Frank Allen Cynthia
Perez Gary Brown Lisa Martinez Daniel
Good job? 👍🏼
Find the China connection.. "borrowing money".. ah yes
Lots of BS
Alberta can be boom crazy and then builder will build crazy, construction will boom supply and then demand less, price drop. Thus may not a good view in future in Alberta .
CMHC is only theory , not trustable
CMHC SCAMMERS !!! 😂😂😂😂
You are exactly correct. Home prices are at all time highs (ATH), stocks (ATH) etc. It would be much better to park your currency into gold/silver, short term t bills etc and wait for home prices to drop OVER 50%. Meanwhile your gold will have doubled or tripled. Buying a house today is extremely risky unless you know what you are doing. There are always deals.
I'm guessing everyone in this thread forgot housing isn't just an investment. It's a basic need.
You might as well be the starving poor to park their money in T-bills and wait for the price of bread to drop.
@@Grizabeebles If you don’t have a large family it would be prudent to rent while waiting for the imminent housing collapse. If you owe large amounts on your home, you will lose it in this recession/depression. It’s an easy choice for me and my family. We will take the short term pain for long term gain, something the vast majority of humans cannot do unfortunately.
@@georgeorwell3501 -- I thought the same thing back in 2007. There won't be a collapse. Look at any demographic chart you please of countries that participated in the Second World War.
The "echo" of the "quiet generation" is currently somewhere between the ages of 30 and 15. The Boomers are still in charge, so they're not going to "overbuild" potential income properties when they can keep the housing market constrained and fund their retirement by ripping off other people's kids.
Things are just going to get worse and worse until governments are forced to build public housing again.
Houses are ridiculously priced for the cheap materials used to construct them with tiny yards on top of several neighbours. It is insane. Go to New Brunswick and you will get a mansion on large piece of land on the coast. Bonus is that ROADS ARE EFFECTIVELY CLEANED in the winter! You drive on tar and not thick padded snow. Taxes are well spent! Your dollar goes a lot further too!
Doesn't Alberta sent money to Ottawa to be distributed to Quebec and the Maritime provinces in the form of equalization money? Now Trudeau is killing the golden goose and a lot of Albertans want to seperate. Maybe try developing some of your own resources and stop the mooching off Alberta.
@@marlainerose3340 😂😂😂 Agree! Money should be used wisely for a change. The fact is that they don’t!