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archited said:
And hedge against rent increases
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Yes, most residential leases here are for one year or less and rents have been rising here in recent years.

A mortgage can lock in payments for 5 years and of course the price you paid for the property is locked in for as long as you own it.
 
policyenthusiast said:
No real news or surprises in this article. Market's still hot in Edmonton and Calgary, and supply can't increase much before May.

Glad I finally got around to owning instead of renting, prices have been rising faster than I've been able to save.
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Yes, still hot here, Calgary not as much.
 
David A said:
Yes, most residential leases here are for one year or less and rents have been rising here in recent years.

A mortgage can lock in payments for 5 years and of course the price you paid for the property is locked in for as long as you own it.
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While the price you paid is indeed locked in for as long as you own it, that doesn’t mean you might not be under water with that price for a long time (just ask lots of Edmonton condo owners who probably still can’t sell for anywhere near what they paid).
 
kcantor said:
While the price you paid is indeed locked in for as long as you own it, that doesn’t mean you might not be under water with that price for a long time (just ask lots of Edmonton condo owners who probably still can’t sell for anywhere near what they paid).
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Yes, there is risk in life in every financial decision - rent can go up or down in the future, house prices can go up or down. Investment values can also go up or down too and big market declines could be used as an argument against investing.

Edmonton's real estate market has been unusual in the past decade or so that prices have stagnated or gone down for some period of time, which has not been the experience generally over time or in most other places.

Perhaps that will continue, but I feel it is more likely in the future that will change if for no other reason given how far rents and prices elsewhere have diverged from here, there seem to be a lot of affordability refugees coming here putting upward pressure on real estate prices and rents.
 
^
I hope you’re right on both fronts!

I’ve long said I don’t really want Edmonton to be considered a cheap place to be for individuals or for business. Places become expensive when people and businesses want to be there and that’s what I want for Edmonton - to be perceived as a place where you want to be.
 
David A said:
Yes, there is risk in life in every financial decision - rent can go up or down in the future, house prices can go up or down. Investment values can also go up or down too and big market declines could be used as an argument against investing.

Edmonton's real estate market has been unusual in the past decade or so that prices have stagnated or gone down for some period of time, which has not been the experience generally over time or in most other places.

Perhaps that will continue, but I feel it is more likely in the future that will change if for no other reason given how far rents and prices elsewhere have diverged from here, there seem to be a lot of affordability refugees coming here putting upward pressure on real estate prices and rents.
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Hey man having a fixed expense for your housing is nothing to scoff at. It's your home! And one day it'll be paid off. Depending on your retirement situation that will be huge in the future when living on a fixed income.

Real estate as an investment is more complicated, real estate as your home is pretty black and white.
 
kcantor said:
^
I hope you’re right on both fronts!

I’ve long said I don’t really want Edmonton to be considered a cheap place to be for individuals or for business. Places become expensive when people and businesses want to be there and that’s what I want for Edmonton - to be perceived as a place where you want to be.
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Whether you want it be or not, it is. However, I do feel a more positive way and word to use to look at it is affordable, or perhaps undervalued. There are a number of reasons in the past we have not been so desirable, some of which relate to a provincial or insular outlook and not enough confidence to better promote ourselves.

It is also not negative that this affordability is drawing a diverse group of new residents from elsewhere in Canada and outside of Canada. I feel they will help make this city more vibrant and improve it based on their experiences from elsewhere. We have a good opportunity to break some of the bad patterns of the past now and I hope we take advantage of it.
 
thommyjo said:
That portfolio has got to be one of the ugliest I’ve seen….

These are the players that keep Edmonton ugly
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I quite like most of them actually. Perfectly inoffensive small-scale retail.

I think that our lack of green spaces in West Edmonton & Northeast Edmonton are what makes commuting ugly.
 
policyenthusiast said:
I quite like most of them actually. Perfectly inoffensive small-scale retail.

I think that our lack of green spaces in West Edmonton & Northeast Edmonton are what makes commuting ugly.
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I find them very offensive haha.

Just ugly, cheap quality strip malls with seas of parking and 0 good design features, walkability, street interaction, urban form contributions, etc. Small changes could make big improvements.

2 examples from my area.

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thommyjo said:
That portfolio has got to be one of the ugliest I’ve seen….

These are the players that keep Edmonton ugly
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Concord Tower was built in the 1960's and its appearance reflects that era, which is an era in which a lot of building happened here. However a person feels about its appearance, it has been around for a long time.

Reading between the lines, it sound like they have plans to improve this site. I do feel there is an important distinction that should be made between buying older less attractive buildings and building new ugly ones.
 
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