Down payments becoming a growing concern for first-time home buyers in Calgary: report yyc
This advertisement has not loaded yet, but your article continues below.Reid said Canada’s benchmark price has gone up 54 per cent in the last two years and 130 per cent in the past decade. This is just one part of the inflation equation. Meanwhile, the average Calgary salary has gone up roughly one per cent in the past 24 months.
“What we see is a policy mismatch of epic proportions,” said Reid. “It is a great policy to invite immigrants, refugees, and even other people from across the country to our province. . . . However, it’s in direct contradiction of our policy reality when it comes to affordable housing. And in order for those types of campaigns to be effective, we need to make sure that the numbers line up in a really basic way.
The average rent for a two-bedroom apartment in Calgary as of March, according to the Calgary Housing Company, was $1,920, which means a household income of $79,000 is required to make this price point affordable.
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