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The trick is to somehow make the new supply appealing. I live in Edmonton, home of the urban sprawl, and while detached home prices climb, condo and apartment
by SketchySeaBeast 6y ago
The trick is to somehow make the new supply appealing. I live in Edmonton, home of the urban sprawl, and while detached home prices climb, condo and apartment prices are much more stagnant. Sure we can do high density but when everyone wants a lawn it's hard to sell. I guess having no option is a way to do that, but the people I know who don't own homes are the ones who could afford a condo, but won't do it because a house is the dream.
- blaser-waffle 6y agoCalgary is the home of the urban sprawl. Edmonton has a long way to go to get that ugly. Edmonton saw a massive shortage in housing a few years back during the oil boom and moved to build tons of condos and apartments, plus offered tax subsidies if you converted a basement or in-law apartment into a full-on dwelling. So there is a glut of average-tier 2-bed 2-bath apartments everywhere. Plenty of space and COL is reasonable if you're willing to go further out. But, on average, still 100k (adjusting for currency) more than what my coworkers in the NC Research Triangle are paying for a similar square footage house.