Calgary home average nears half million
CanWest News Service; Calgary Herald
Published: Thursday, January 11, 2007
CALGARY - "The average price of a "NEW" single-family detached home in Calgary will soar by nearly 38 per cent in 2007, nudging close to the half-a-million-dollar mark _ an increase of more than $200,000 in three years, says Canada Mortgage and Housing Corporation." Full Article.
I almost fell out of my chair when I saw this headline.
Even though they are refering to New Home construction, it still seems to be out of pace for most wages in Calgary. Mind you they may be building more "high end" new homes to appeal to the executives who are making the big bonus'. The average person is still out priced.
Those builders had better hope oil doesn't continue its downturn. Oil touches 18-month low as speculators rush exits
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