Why is the same house more expensive in Saskatoon and about the same in Regina as Edmonton? I make 30% more than my Saskatoon counterpart, and 40% more than my Regina Counterpart... Are they oblivious or are Albertans panic stricken sheep? What is going on? Very little slip in pricing there, yet my Edmonton properties dropped 25% in value in the past year. Are they all on Crazy pills or what? Here in Edmonton everybody is freaking, but there where it really is over priced they seem positive and calm, what the??? "Oh but we have more oil reserves than Alberta," yeah but how many barrels do you produce right now? will next year etc.. What good are reserves if you don`t have the means to get them out? What is going on there?
Saskatchewan is invinsible?
- Thread starter joe123
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Ding, Ding, Ding!!!
I am from SK and wild speculation and short term frenzies have driven our market up to crazy levels. You are very correct that many homes are now more afforable in many AB markets than SK on an INCOME BASIS.
Ask anyone trying to sell right now in Stoon or Regina and see how "calm" they are. Many people building new homes or spec`ing on the market have or will get burned in the next 12-18 months.
We are currently buying property in Alberta due to the strong fundamentals.
I am from SK and wild speculation and short term frenzies have driven our market up to crazy levels. You are very correct that many homes are now more afforable in many AB markets than SK on an INCOME BASIS.
Ask anyone trying to sell right now in Stoon or Regina and see how "calm" they are. Many people building new homes or spec`ing on the market have or will get burned in the next 12-18 months.
We are currently buying property in Alberta due to the strong fundamentals.
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In Regina specifically, apartment style condos are the same price as the ones here in Edmonton. Do take note that you can only get 1/2 the rent. I would be surprised if you could find one that could make it through the money funnel.
I still say that Saskatchewan is WAY to risky. I lived there for 38 years of my life. Just to remind you as well, wheat prices have returned to the $5/bushel mark, down from their high of $18/bushel. Take into account the government as well. Although it`s right wing now, how long will it stay that way? Politics aren`t very stable there.
I still say that Saskatchewan is WAY to risky. I lived there for 38 years of my life. Just to remind you as well, wheat prices have returned to the $5/bushel mark, down from their high of $18/bushel. Take into account the government as well. Although it`s right wing now, how long will it stay that way? Politics aren`t very stable there.
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Too bad you can`t short houses.
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We bought 4 parcels of land just at city limits Regina N.E, it is still wayyy cheaper then Calgary. We calculated that there was still alot of room to grow, purchase price was $6500 per acre (in March 2008) and now listed for $18300. There isn`t really anything cheaper then $100k per acre in Calgary or Edmonton city limits. As for condo`s and houses they all seem to be above market prices.
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Lap Chi Duong
[email protected]
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403-375-0228 Fax
877-375-0207 Toll
Http://www.royalestatesinvestments.com
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I used to work for Halliburton. They operate all over the world including places like the Ivory coast and even Iraq. When I once questioned why the division I worked for did almost no business in Saskatchewan the answer I was given was "it has an unfriendly government".
Like Rebecca says it is pretty risky and the overall mentality is socialist so the right wing government is not likely to last too long..
Like Rebecca says it is pretty risky and the overall mentality is socialist so the right wing government is not likely to last too long..
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QUOTE (MikeMcCrae @ Oct 7 2008, 10:29 AM) I used to work for Halliburton. They operate all over the world including places like the Ivory coast and even Iraq. When I once questioned why the division I worked for did almost no business in Saskatchewan the answer I was given was "it has an unfriendly government".
Like Rebecca says it is pretty risky and the overall mentality is socialist so the right wing government is not likely to last too long..
I would disagree on the whole government thing. To me, not so much of an issue anymore. Overall socialist attitude is changing and Brad Wall is doing an excellent job of promoting our resources to the world.
The fundamentals have changed are things are rolling. SK has EVERYTHING the world is demanding (ie. food, fuel, fertilizer). The big concern to me is these fundamentals likely don`t support housing costs on an affordability basis. Our wages, overall, have not yet caught up to Alberta levels. Another thing we have looked at is rent vs purchase price ratios and rents in SK are nowhere close to AB levels.
I think in SK we will see levels of in-migration slow or cease as the low cost of living benefit is no longer available and employers are going to have to start forking out some real dough to attract workers. And lastly is market size....SK is only 1M people in which 50% of the population lives in either Regina or Saskatoon.
SK will do well over the next 5 years, however it is likely that Alberta real estate will outperfom due to even STRONGER fundamentals.
Like Rebecca says it is pretty risky and the overall mentality is socialist so the right wing government is not likely to last too long..
I would disagree on the whole government thing. To me, not so much of an issue anymore. Overall socialist attitude is changing and Brad Wall is doing an excellent job of promoting our resources to the world.
The fundamentals have changed are things are rolling. SK has EVERYTHING the world is demanding (ie. food, fuel, fertilizer). The big concern to me is these fundamentals likely don`t support housing costs on an affordability basis. Our wages, overall, have not yet caught up to Alberta levels. Another thing we have looked at is rent vs purchase price ratios and rents in SK are nowhere close to AB levels.
I think in SK we will see levels of in-migration slow or cease as the low cost of living benefit is no longer available and employers are going to have to start forking out some real dough to attract workers. And lastly is market size....SK is only 1M people in which 50% of the population lives in either Regina or Saskatoon.
SK will do well over the next 5 years, however it is likely that Alberta real estate will outperfom due to even STRONGER fundamentals.
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QUOTE (mortgageman @ Oct 6 2008, 11:59 PM) Too bad you can`t short houses.
actually you can, indirectly, via the stock symbol SRS in the US, a real estate fund that shorts real estate stocks in the US ...
sorry, not in Saskatoon though ..
I also think that SK prices have to correct down to earth .. so write realistic offers BELOW Edmonton prices or walk ... or time to unload an asset that is clearly not a long term hold !
actually you can, indirectly, via the stock symbol SRS in the US, a real estate fund that shorts real estate stocks in the US ...
sorry, not in Saskatoon though ..
I also think that SK prices have to correct down to earth .. so write realistic offers BELOW Edmonton prices or walk ... or time to unload an asset that is clearly not a long term hold !
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Hey, I`m all for Brad Wall. He`s the best thing that`s happened to Saskatchewan in a very long time. You just need to be aware that the cities of Saskatoon and Regina are what dictate which government is voted in and for the most part Saskatchewan people are socialists. That`s why the politics are so volitile there. Brad Wall will only be able to make significant changes if he can manage to get voted in for a couple of more terms. Is that possible? These things DO matter. Why do you think we all take our hats off to Ralph Klein?