Housing has become a real problem in Calgary and other nearby communities lately. Chestermere and Okotoks are among them, if not any others each dealing with different issues. I never had this in mind to purchase a property. Many did years ago and I assume they profited. Some might have lost money. The fist apartment that I rented in Calgary, a 1 bedroom with a big storage room, balcony and roofed parking in Downtown area, more specifically 17A St. was $475. I do not think you can rent a place like that, no matter how old even close to double that cost these days! That was back in 2002 I guess and then it was increased to $500 when I moved out. It was not a great place but was OK.
Today the amount we pay for this dump is incredible but I also now we cannot rent any place cheaper unless we sacrifice something, most important of all the distance to work.
There was a time that riding a bus or train was not a big issue but now it's just stupid specially if the commute is made to and from Downtown area. My buddy at work who is a real cheapskate used the public transit to come to work and go home for more than 2 years. He eventually gave up and purchased a used reliable car. Now he's paying more but get comfort and time. I know for a fact that he doesn't have to deal with manics who play with electronic devises and pay no attention to their surroundings! And he doesn't have to walk in a chilly and windy day and wait for the bus even it's only 5 minutes.
We have this plan of moving out of this cold city. When we will be able to execute that plan, I don't know but part of the plan is not to purchase any property here so we won't get stuck!
(Photo: This Pie Chart with its legend on the right shows that right now almost 74% of our monthly expenses goes to rent!)