[bodsbods9090]

Housing affordability cannot be the sole reason people want to invest here or move here. Ignoring the problems that exist is a classic Edmonton perspective.

The closing panel was definitely an interesting one with differing perspectives between the panelists.

For those of us who weren't there care to enlighten us on what the closing panel discussed.

 

[David A]

Us consistently saying we're a backwater town and putting ourselves down is the biggest pet peeve in this city tbh. We really aren't and need to act like it.

We're the 5th largest municipality in the country, with over a million people and growing. We get consistent international, interprovincial and intraprovincial migration flows, high GDP per capita, high disposable spending patterns, marked improvements in transit and urbanism. Sure, our DT needs work, and everyone in this forum knows that, but we're getting to an inflection point. I mean we've got close to 5,000 units that are coming in over the next few years.

It's exhausting when it's mostly out of towners who actually have more positive outlooks and opinions of this city, rather than us. And I'm sick and tired of constantly comparing ourselves as inferior to Calgary. I mean I'm sick and tired of snooty Calgarians looking down on us, but we don't pushback hard enough.

It sounds crazy, but we need to have the mentality we can surpass them, because if we even get half of that energy for a lofty goal, we'd be on our way to creating a city that's a juggernaut.

Many people here have in stuck their heads that somehow it is completely a competition with the city to our south, which is not really correct. They are different in us, but not in all ways better.

We really need to try be the best we can in as many ways possible and we may find in doing that we surpass them in more ways than currently, but the latter would be more a bonus than essential.

There are some things we can't change like our climate, although it is actually changing on its own and gradually warming. However, I am surprised how little push back there is here about the stereotypes which seem to have been slower to change, a place a few hundred miles south of us is certainly not balmy California and we are not Siberia either.

Unfortunately, much of the negativity and lack of confidence is home grown, I agree outsiders actually often have a more positive outlook. So two of the biggest things we need to deal with are stereotypes and our own self image.

 

[scyeg]

Many people here have in stuck their heads that somehow it is completely a competition with the city to our south, which is not really correct. They are different in us, but not in all ways better.

We really need to try be the best we can in as many ways possible and we may find in doing that we surpass them in more ways than currently, but the latter would be more a bonus than essential.

There are some things we can't change like our climate, although it is actually changing on its own and gradually warming. However, I am surprised how little push back there is here about the stereotypes which seem to have been slower to change, a place a few hundred miles south of us is certainly not balmy California and we are not Siberia either.

Unfortunately, much of the negativity and lack of confidence is home grown, I agree outsiders actually often have a more positive outlook. So two of the biggest things we need to deal with are stereotypes and our own self image.

I don't know how Calgary mostly escapes the "it's so cold" stereotype that Edmonton and Winnipeg consistently deal with. Yes, they get occasional chinooks, but they also have more volatile weather and a shorter growing season than us. The actual difference in climates is negligible. I consistently push back on this when I talk to people from other Canadian cities. Even places like Ottawa and Montreal aren't THAT different. They get a slightly longer fall, but also quite a bit more snow in the winter.

 

[Didama]

For those of us who weren't there care to enlighten us on what the closing panel discussed.

the main point of disagreement was around which asset class had the most potential for investment in Edmonton, from what I recall. A couple panelists argued that office space was one to watch (which others disagreed with firmly) mostly due to around 2% vacancy in suburban office space. But uncertainty around AI makes that a risky bet, in my opinion. An area of concern raised was around mill rates (industrial property tax) and the disparity between Edmonton and surrounding communities. I don’t recall a lot of disagreement around the vast opportunity for the Edmonton region overall though. In fact one of the gentlemen from out east (can’t remember which organization he is with) said that he is getting calls from as far away as Shanghai asking about Edmonton, which hasn’t happened before. Investors calling from Europe, Asia and the Middle East inquiring about Edmonton. The consensus is that something feels different this time around. There was no complacency around the work ahead of us either though.
The firm I work with has personally toured investors from the Middle East interested in investing in some well known assets in the city. Lots to be excited about.

 

[ededed]

I don't know how Calgary mostly escapes the "it's so cold" stereotype that Edmonton and Winnipeg consistently deal with. Yes, they get occasional chinooks, but they also have more volatile weather and a shorter growing season than us. The actual difference in climates is negligible. I consistently push back on this when I talk to people from other Canadian cities. Even places like Ottawa and Montreal aren't THAT different. They get a slightly longer fall, but also quite a bit more snow in the winter.

People can excuse a winter climate when it comes with easy access to the mountains. The 2 seem related and it becomes an easier mental trade-off.

 

[David A]

People can excuse a winter climate when it comes with easy access to the mountains. The 2 seem related and it becomes an easier mental trade-off.

I feel it is more ignore or overlook rather than excuse, but perhaps that is the case. However, I feel the mental trade offs people make can sometimes be delusional.

People move to Vancouver with visions of walking the seawall every day, but after a few months the novelty is gone or they just become too busy with other things and they stop. Likewise, I suspect many people get to busy to visit the mountains regularly even though it is closer.

If we are going to focus on the things we can't change like the weather or the distance from the mountains it is a recipe for failure and disappointment. Many of the greatest cities in the world are not near mountains or have weather that is not always so great either.

 

[yeggator]

If we are going to focus on the things we can't change like the weather or the distance from the mountains it is a recipe for failure and disappointment.

But we should be focusing more on our proximity to the mountains! Yeah, we’re not as close as Calgary, but you can still drive out to Jasper, Nordegg (the latter two being uncrowded) or Banff within 3-4 hours (it would be closer to 3h if Highway 16 through Jasper and Highway 11 to RMH were fully twinned, but I digress), spend a day going hiking (as I often do), skiing, canoeing, strolling and dining with a mountain backdrop or whatever else, and drive home to your own bed by the end of the day. You don’t need to pay a premium for housing or gas either. How many people across the continent (or the world, for that matter) are within the same proximity to such gorgeous mountain parks? There’s a reason Condor used to advertise Edmonton and Jasper together when they still had their flight to Frankfurt.

 

[Gronk!]

Never forget Elk Island National Park. It's not in the mountains, but it's only a 20 minute drive from the city. Elk Island has enough natural forest for the woodland bison to roam through, plus there's at least one lake with a beach that's good enough for boating or for hiking along the shore.

 

[MacLac]

I don't know how Calgary mostly escapes the "it's so cold" stereotype that Edmonton and Winnipeg consistently deal with. Yes, they get occasional chinooks, but they also have more volatile weather and a shorter growing season than us. The actual difference in climates is negligible. I consistently push back on this when I talk to people from other Canadian cities. Even places like Ottawa and Montreal aren't THAT different. They get a slightly longer fall, but also quite a bit more snow in

ALL the YYC’ers I deal with KNOW that YEG has a superior Summer over their’s…..Winter on the hand is a different matter…..

 

[IanO]

Edmonton office market report

Get the latest intel from Edmonton office real estate

www.avisonyoung.ca

 

[David A]

Just in case it wasn't clear, I meant focusing on the distance to the mountains compared to other places that are closer.

ALL the YYC’ers I deal with KNOW that YEG has a superior Summer over their’s…..Winter on the hand is a different matter…..

We also have a fairly nice spring and fall comparatively. We don't get as quiet as many breaks in winter, although I'm not sure -20 is more bearable because all the snow there melted in a brief warm up, but perhaps it looks warmer.

 

[ADob]

Just in case it wasn't clear, I meant focusing on the distance to the mountains compared to other places that are closer.

We also have a fairly nice spring and fall comparatively. We don't get as quiet as many breaks in winter, although I'm not sure -20 is more bearable because all the snow there melted in a brief warm up, but perhaps it looks warmer.

Wait, we have spring? What?

 

[johnnyboy]

Edmonton: What a stable resale market looks like​

Globe & Mail article: https://archive.is/SPguQ

 

[IanO]

 

[Yeggy]

^yes and no.

Housing affordability is great, but the desirability of our city must improve and overall perception to really make strides.

That will require all forms of media to report/create content that isnt just reading EPS press releases.