It's funny the housing angle that parent poster is playing, too. While Edmonton at least has made sensible decisions around its housing stock, the real reason why Alberta has "affordable housing" is that the absolutely brutally cyclical and volatile nature of the oil industry there means that every few years a wave of unemployment and poor economics knocks real estate prices down. Every time there's low oil prices there's hand wringing all over Alberta. It's just a volatile place to invest.
Alberta real estate is affordable relative to the rest of Canada because it's actually not a good investment. Not that I think real estate should be treated as an investment, and this isn't a knock per se, but it's also nothing to brag about that every few years scores of people in Alberta are losing their shirts on real estate.
I'll probably buy a house next year in Edmonton for my daughter to use (and rent out) while she's at the UofA, but I fully expect to either lose money or not gain on it.
Can't comment without knowing more specifically what you're comparing. Massive variation across both provinces, of course.
The standard unit in rural Alberta is the quarter section - 160 acres (half mile by half mile). Greater Edmonton is surrounded by mostly flat quarters in every direction as far as the eye can see.
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It's funny the housing angle that parent poster is playing, too. While Edmonton at least has made sensible decisions around its housing stock, the real reason why Alberta has "affordable housing" is that the absolutely brutally cyclical and volatile nature of the oil industry there means that every few years a wave of unemployment and poor economics knocks real estate prices down. Every time there's low oil prices there's hand wringing all over Alberta. It's just a volatile place to invest.
Alberta real estate is affordable relative to the rest of Canada because it's actually not a good investment. Not that I think real estate should be treated as an investment, and this isn't a knock per se, but it's also nothing to brag about that every few years scores of people in Alberta are losing their shirts on real estate.
I'll probably buy a house next year in Edmonton for my daughter to use (and rent out) while she's at the UofA, but I fully expect to either lose money or not gain on it.
I think it is more that land is comparatively cheap. Edmonton and Calgary are incredibly sprawly cities, with effectively infinite room to grow.
Contrast with Vancouver, which is hemmed in by ocean, mountains, and a border.
Strangely, actual empty rural land in Alberta seems remarkably expensive per acre compared to Ontario (where I own 6 acres).
Can't comment without knowing more specifically what you're comparing. Massive variation across both provinces, of course.
The standard unit in rural Alberta is the quarter section - 160 acres (half mile by half mile). Greater Edmonton is surrounded by mostly flat quarters in every direction as far as the eye can see.
Yes, my parents own a quarter section near Evansburg