David A
Senior Member
Fairly nice materials, complimentary colours and good size windows. Yes, if it ends up like this, I think they've got it!
|
|
|
Westrich McKernan-Belgravia | 22m | 6s | Westrich Pacific Corp. | JS Architect
- Thread starter Avenuer
- Start date
David A
Senior Member
Yes, a lot of rental buildings were built in Edmonton during past booms, which is why we see so many of those three story walk ups in our central areas.
They have actually served people here very well to provide decent, affordable and often fairly well located accommodation, however they are getting older and not all are being well maintained.
So a few have even been torn down in recent years to provide bigger, newer buildings. We also have a number of older condos which compared to other cities are very affordable, overall not much different in price compared to renting. Rents have gone up a lot in recent years, so people may again start to look at them more.
constance_chlore
Senior Member
Yeah, lots of people want to rent because they're not ready to commit to a place for whatever reason. As Edmonton's cohorts of students and young professionals grow, we should expect to see demand for rentals. Where can people buy property? Literally anywhere else in the city.
David A
Senior Member
Particularly at a certain age when you may be moving a lot and/or not sure how long you are going to be somewhere that makes sense.
There are actually a number of condo's in our more central areas too. You don't only have to live in the suburbs to own a home.
There are actually a number of condo's in our more central areas too. You don't only have to live in the suburbs to own a home.
archited
Senior Member
Edmonton as a fast-growing City is bound to have rentals as a very first step for those moving there.
Kosy123
Senior Member
Hidden costs of homeownership are also an issue. For some people, it's much more financially viable and responsible to rent and invest, rather than dropping their net worth into housing.
David A
Senior Member
I suppose it depends where you buy or what you invest in. Some other parts of Canada over the last two decades had real estate prices increasing at a higher rate than the market
That didn't happen here, but that seems to be over for them although still room for appreciation here. Hopefully they did not put their money in Bitcoin in 2025.
That didn't happen here, but that seems to be over for them although still room for appreciation here. Hopefully they did not put their money in Bitcoin in 2025.
Garceyues
Active Member
100%. People who take out a mortgage need to consider the opportunity cost of that as opposed to renting + investing in a broadly diversified low-cost portfolio. Canadian real estate has not uniformly beat out our domestic stock market over the last two decades as many would assume - the picture is much more nuanced. Many home owners are also not religiously tracking the amount they pay in terms of property taxes, insurance, and maintenance when talking about the appreciation in the value of their home.
Moreover, I also like the idea of having a mix of renters and owners in a city as it provides more choice for families. Many young people are not ready to put down roots while studying, moving around for new jobs, etc., and so renting is often a great choice that provides flexibility for them.
There's a paywall for this globe article but I would highly recommend reading it for any subscribers.
Turns out that for the right person, renting in the last 20 years was not a financial mistake
An analysis finds that renters and owners were on fairly equal ground, provided the renters were disciplined with their money
www.theglobeandmail.com
johnnyboy
Active Member
Bypass the paywall: https://archive.ph/DtJmo100%. People who take out a mortgage need to consider the opportunity cost of that as opposed to renting + investing in a broadly diversified low-cost portfolio. Canadian real estate has not uniformly beat out our domestic stock market over the last two decades as many would assume - the picture is much more nuanced. Many home owners are also not religiously tracking the amount they pay in terms of property taxes, insurance, and maintenance when talking about the appreciation in the value of their home.
Moreover, I also like the idea of having a mix of renters and owners in a city as it provides more choice for families. Many young people are not ready to put down roots while studying, moving around for new jobs, etc., and so renting is often a great choice that provides flexibility for them.
There's a paywall for this globe article but I would highly recommend reading it for any subscribers.
Turns out that for the right person, renting in the last 20 years was not a financial mistake
An analysis finds that renters and owners were on fairly equal ground, provided the renters were disciplined with their money
Glenco
Senior Member
thommyjo
Senior Member
ntt1
Active Member
ededed
New Member
Hoping we get a cafe in the corner CRU