Quote:
Originally Posted by Western Spaghetti
I don't know what the prices in Winnipeg were like 8 years ago, but I would bet that they were alot cheaper 8 years ago than Calgary was 8 ago. It's all relative.
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10 years agoish, you could get a damn nice house in Winnipeg for around $50,000. Not a mansion, but still something nice. A brand new 1500 sq ft bungalow *might* have been around $150,000. There were a LOT of older houses in the magical $10-30,000 range. It was crazy to see people buying houses (and not just crap either) for less than the cost of a decent new car.
Incidentally, the taxes back then on a $100,000 house were into the thousands (2, maybe 3 - it's been a while). At the time, the equivalently priced house in Calgary/Edmonton was less than half that. What some people don't realize is that as house prices go up, taxes don't necessarily. The city (or at least, smart cities) change the rate as the average house price increased. You don't just double your property tax income because houses skyrocketed in price in 2 years - if this was the case, nearly every city in Canada would be rolling in the dough, as we've all seen some dramatic increases in the past couple of years.
And yeah... $6100 in property taxes in Calgary? You're living in one hell of a nice house, even in this market. Unless you bought in the past year, you would make a killing selling that. I think our taxes *might* approach $1,500 on a brand new house this year. Guess I live in the poor part of town.
Ah well, the future promises to be interesting. We all know how everyone in Vancouver and Toronto cleared out when house prices went insane.