This use to be true, not so much anymore. I know a lot of people from Ontario & BC moving to AB currently because of housing market to income ratio.
I wasn't debating that the 'super wealthy' people aren't primarily attracted to Toronto and Vancouver, that's well known. But those numbers are generally small when compared to their overall markets. My point is that the 'higher' rents that are supported by buildings such as Maclaren and others aren't 'high end', it's that the market will pay a little more PSF in quality buildings in quality locations like west Oliver/124 St/Glenora (you can add the University area as well). However, in general, Edmontonians and Calgarians don't have to chew into as much of their income on housing given that both cities have the highest median/disposable incomes compared to any of the other major cities in the country.
I think you're confusing 'wealthy' and 'mobile middle class' which the latter are choosing to move to Alberta - primarily Calgary and Edmonton, because of cheaper housing and plenty of well paying/good jobs. The 'wealthy' cohort can live where ever they really want and that cohort will often choose to live in 'global hubs' such as NYC, LA, London, Paris. In the Canadian context it's Vancouver or Toronto.
no, I'm with you. Like you said, uber wealthy can and will live anywhere and have multiple places. the "working" class out of Toronto are buying up condo's and getting out of there.
What you stated regarding migration to Alberta is true, but I'm not referring to populations that are of normal income. Vancouver and Toronto are cities wealthy newcomers will choose not Edmonton, Calgary or Montreal therefor higher quality will not require incentives for them to move in or purchase.
This is true to a degree, however its not a demographic any city needs to strive to attract. Its a very small % of people and the people with that kind of money go where ever they can make money. I was at the Marriot lounge bar a couple months ago and met a guy who bought a condo in the sky residences just because he comes to Edmonton for a week every 2-3 months. Their incentives are places they can make more money, not necessarily the "attractions" of the city.
Gives impression of Torontonians being taken advantage of. I guess it really is just a crazy market out there. Anecdotally, I have heard about many GTA people moving to Edmonton in recent months, all are amazed at the fact they can actually afford a nice place here.
Exactly, they make a big splash, but they are a small % of people, even in cities like Toronto. Everyone notices the Lamborghini driving around, but not the 10 or 20 other average cars on the road at the same time.
You spelt DOG wrong though. Regency, the other culprit giveth us twice.
Exactly.
