Real Estate Market Comparison: Calgary vs. Vancouver vs. Toronto
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- Опубліковано 27 тра 2024
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Canada's Real Estate Market Comparison: Toronto vs. Vancouver vs. Calgary | January 2024 Update
Timestamps:
00:00 Introduction
00:53 Current Market Highlights - Annual % Change in Market Activity
01:42 Demand and Supply Conditions
02:43 Benchmark Prices for Detached Houses, Townhouses & Condos
03:59 Annual % Change in Home Prices
04:36 The Trend Over the Past Decade - Supply and Demand Conditions
07:03 Pricing Trend with Annual % Change
RBC Report:
thoughtleadership.rbc.com/ear...
In this video, we analyze the housing markets of Toronto, Vancouver, and Calgary as of January 2024, building upon insights from a recent RBC report indicating an upturn in Canada's housing market. The comparison begins with a look at current market highlights, including resale activities, new listings, and sales-to-new listings ratios, revealing a significant increase in transactions across all three markets. We delve into home prices for detached houses, townhouses, and condos, emphasizing the considerable price disparities between the cities.
Moving on, we explore the trend over the past decade, noting Vancouver and Toronto's fluctuations between seller's and buyer's markets, influenced by factors such as policy interventions and post-COVID buying frenzies. In contrast, Calgary's market stands out with a consistent shift towards a strong seller's market since COVID, driven by increased demand and affordability relative to other cities. Price changes over time further underscore the divergent trajectories, with Calgary experiencing substantial annual price hikes compared to Toronto and Vancouver.
Ultimately, the analysis highlights the resilience of Toronto and Vancouver markets amid changing conditions, while speculating on Calgary's future trajectory. Despite its affordability advantage, the extent to which Calgary's market will sustain its momentum remains uncertain, warranting further examination of evolving dynamics.
Calgary cannot compare to Vancouver and toronto , With markets getting expensive , inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my portfolio or not
Selling off should never be an option. Every single bear (U.S.) market eventually recovered and hit new ATHs, and every stock investor wished they bought more during the sell-off. Buffett bought $600 million more $AAPL during a 3 day sell-off in Q1 2022. The wealthy get this and it's 1 reason they keep getting richer.
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.
Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?
‘LAURA GRACE ABELS is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Laura really seems to know her stuff. I found her online-page, read through her resume, qualifications and it was really impressive. I have booked a session with her
Very insightful graphs…. I think people start to realize that Calgary, beside the cold winters, offers everything that Vancouver & Toronto have… but at < 1/2 the price…
The only thing we lack is ocean, I miss that a bit sometimes. But in all other respects Calgary is awesome. Great jobs (far better pay than Vancouver), more sunny than Toronto and Vancouver, fast to get around (road system is awesome, I saw a study suggesting it’s best in North America), amazing winter sports, and we spend most weekends in the summer hiking in Kaanaskis.
Its pretty boring in calgary compared to Toronto
@@jamesbenjamin7973not if you are into skiing and outdoor activities.
@@jamesbenjamin7973 if traffic excites you more than skiing, Toronto is your town.
To understand Calgary prices, it isn’t Covid, it’s oil prices. When they are up, companies are booming and paying well. When they crash everything slumps (eg start of Covid). When oil is high, you can earn a lot more in Calgary than Toronto when you get into oil and gas. Vancouver is significantly lower paying. My bonuses combined almost match my base salary now, that’s typical in corporate jobs with the large oil and gas companies here. You make a ton of money when the going is good, but can be laid off in a heartbeat when oil slumps.
Interesting take but oil prices are low and compared to inflation they are really low ($79/ Barrel and in around 2010 it was well over $100). The price has to do with the fact that we brought in an insane amount of Immigrants when we already had a housing shortage and created a massive amount of debt (the leading cause of inflation) through covid. In Calgary we are building a lot of new houses so it will probably be less painful here in the next 2 years but it will be brutal for awhile. They have planned another wave of Immigrants similar to last year to arrive this year. I would get out of Toronto and Vancouver for awhile till things even out crime tends to follow when people can not eat or have a roof over their head.
Every month thousands of people are moving to Calgary, with every person who moves here it diversifies our cities economy and help grow our population to push towards 2 million metro by end of decade. Calgary has always pushed above its weight for being only million people but hanging with cities 4 times its size. Only good things coming Calgarys way. World is swinging back to benefit the city. Economy, politics, polices, quality of life all positive.
@@robertguay3773 100 dollar oil is rare. Right now oil is high. Tomorrow it could drop to 30, all drilling will stop, and mass layoffs. All the interprovincial migration will screech to a halt. And before you say it won’t happen, history tells us it will at some point. Oil is an extremely cyclical commodity. No other industry can compete with it on good times. Calgary reflects that, we don’t have the crazy high prices the GTA has because of it, for every boom we have been through a bust, prices go down here as quick as they go up. Take my condo, I purchased in 2010, 2 bedroom, 1k sq foot, modern, view of the river. Paid 425k. I’m about to sell it and will get 410k. In that decade or so of ownership, around 2014, with 100 dollar oil and currency parity with US, it was approaching 500k. 2016 to 2022 would have been lucky to get 360k. It’s moved with oil. It will go up and down over the next decade, but I’m willing to bet in 2035 it will still be worth around 400k.
@mkyhou1160 been 20 years since $30 oil and 20 years ago a new truck was $23,000 and now they sell for $100,000 plus. I do think calgary is over valued by about 40% but Vancouver Toronto are over valued many times more. Water always flows to its level and there will be a lot of people destroyed by poor choices and crushed when they owe over a million on an apartment that will probably
drop to 500k. No apartment in Calgary should be worth much more then 200k there is land everywhere.
City is much more diversified than it was 10 years ago
These graphs were very nicely presented and very informative. Thanks CW! You earned my "like" (already subscribed)
As always, excellent analysis 🙏🏻🫡
Great video with noticeable efforts.. Good luck and keep going 👏
This is a very good video with excellent content. Liked and subscribed. Thanks
Great prestation ....thank you
Very nice graphs Dr. Wong! Very insightful. Thank you for sharing 👍
what a fantastic watch. subbed
Brilliant, thanks!
Thanks and apparitions for time and dedication to make videos like this one. Really informative specially when it comes to comparison you give us more insight towards the market. 🙏🙏🙏
Thank you for helping make Calgary less affordable for locals. Yes lets make them eat less than 3 meals a day instead of actually solving the problem. Because why not spread housing poverty to alberta?
that was a fantastic video. Thanks for putting in such effort. btw, I have a friend really considering moving to Calg so they can have a newer big home since it's impossible here with their good income
Thank you.
I have heard 2 personal stories now of people selling in Toronto and moving to Calgary mortgage free. Both families are avid skiers and hikers, and were drawn by close proximity to the mountains. The intention was to find employment in their fields after settling in. I haven't heard yet how they are doing with this but the adults in both families are university educated .. one couple are nurse and engineer. Lots of factors to consider for such a move.
Hard to find a nurse job in calgary but in alberta yes
Thank you for the information. It's very helpful.
Great analysis as always!
Thank you for the information. It is a lot of work. Very well presented.
Thank you Wong for the hard work and keeping us informed
Work in Calgary can have a fast swing very fast. Be careful moving here as you can be employed today and unemployed tomorrow.
Edmonton is cheaper by the way.
Lol that employment swing is a problem everywhere not only in Calgary though😂
Lethbridge and medicine hat you can buy a house for the price of the down payment in Toronto or Vancouver.
Anyone who thinks a house is worth a million dollars has not been in a car and taken a drive across the country. With the internet around 40% of the companies in Toronto can do business anywhere. When staff starts demanding 200-300k a year so they can pay for a coffin apartment and food, the business will find better places to build their offices.
Your voice of speech improved
Calgary is the best place to invest vs Toronto no land tranfer tax no high levis, no occupancy fee for pre construction also corporations are comming to the city due to lower taxes
Turn that intro music down. Your voice is quieter than that music
Hey Joe, nice videos!
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Calgary cannot compare to Vancouver and Toronto . Calgary is mainly rely on oil and gas market. It is always boom and bust economy
What industry does Vancouver have?
@@samoday2992
Vancouver has huge GDP from tourism include Hollywood filming that gas min 3 billions contribute to GDP each year. Vancouver has ranked the first 10 in NA for high tech business and LNG natural gas business coming in by 2026, plus major port trading as well, very diversified business.
@@samoday2992 Real-estate and a port City so they get to tax the crap out of everything coming in and spread the cost to other provinces. Mostly new immigrants and old people anyone who wants to live a decent life gets out pretty fast.
@@janiceho6034 So does Alberta the film industry is probably much bigger portion of GDP here if you add in the massive amount of commercials filmed around the province as well. Then we also sell an insane amount of Cattle and cash crops like soy and canola. Oil can be a big part depending on the price. Tourism is huge with world class skiing, Stampede Etc.
@@robertguay3773
Tourism is never been major in Calgary, only stampede time. Vancouver has a lot of site build by Amazon , Netflix and major filing Industry that is much bigger than Alberta.
There are many interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire
You should know it's easy and hard to make that much profit. I say EASY because it's very possible to make that much, and Hard because you'll need professional assistance to do it, I'd suggest you get assisted by a market advisor.
I'm an advocate for having a diverse investment strategy. I grew to a 5 figure mark with my portfolio having exposure to different areas of the market, including small and large-caps of the ETF index, blue chip stocks, coins, grade bonds and alternatives like cryptocurrency markets, as this helps manage the overall risk on my portfolio managed by my FA.. Credits to my adviser, Jasper, i have no doubt investing more
Please can you leave the info of your investment advisor here? I'm in dire need for one!!
He's always act~ive on Whats~App...🎉
A low interest rateholic wakes up in jail.
He asks the first police officer he sees, "Why am I here?"
"For house flipping, mortgage fraud, BRRRRRRRRR and money laundering" replies the officer.
"Great," says the man, "when do we start?"
a decade ago? why ? why live in the past? as a collective group......... all say the same thing..as Madonna sings ''i've heard it all before'' and you do not respond to the people that sing your praises.
Calgary will change very soon
Toronto and calgary are both 💩holes. Vancouver is the place to be. Most beautiful place on earth and can never go wrong with your investments
I live in the lower mainland. And came from Calgary, I can confirm Vancouver is actually the homeless drug infested shit hole. The down side of Calgary is the winters, but it is a MUCH cleaner and family friendly city than Vancouver. Vancouver has maybe more parks but the zombies around the city are a huge turn off. If I had a choice with my current job on where to live, I'd be going back in a heartbeat. Not to mention housing is waaay more affordable. I could have a mansion for the price of a delapitated squatter house here.
I would say that Canada is now a big sh-- hole as a country; that's why everybody is leaving. No interest.
Calgary not a shit hole unlike Toronto yes I agree.
@@RJ_331indeed Vancouver and Toronto suck. I put Canadian real estate in the trash anyway. Such a bad country now.
Have you ever travelled ? Its not even close to being the most beautiful place on earth 😂😂 its bang average and as dull as dishwater
I have lived in Calgary for 12 years. People are moving from Toronto. We never saw this crazy market last 10 years. Lots of my friends struggling to buy a house because of multiple offers.
Guess when prices go up too high in one market people just flower to another. Like the watertight compartments on the Titanic. What happens when they are all flooded?
Atleast they can not vote liberal for a premier the party died a while back.
Calgary is the best place to invest vs Toronto no land tranfer tax no high levis, no occupancy fee for pre construction also corporations are comming to the city due to lower taxes