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In that time my pay, with a job change that brough a 30% increase, has only gone up an additional 4%. No wonder I'm feeling like, to spite a 34% increase in salary, I'm no better off.
given average weekly earnings increases in the province, I imagine your employer is heading for a reckoning.

2001: $669.59 2024 (February): $1,306
1716841579609.png
 
given average weekly earnings increases in the province, I imagine your employer is heading for a reckoning.

2001: $669.59 2024 (February): $1,306
View attachment 567267
Based on the chart, since the year 2000 average wages have almost doubled. From that same time period, the cost of housing has increased more than three-fold
 
If wages kept up, inflation would keep rising.
They can be related if the supply of goods is limited, if productivity is flat. Thankfully that is not the case. Of course supply shocks and demand shocks exist, and government price or supply controls for certain goods exist. At least we can fix the later two if we want.
 
From 2000 to now my wages have increased a little over double the amount (around 120%) but my house value has increased roughly almost 5 times what I paid. I know not all houses have increased that much, but there's definitely been huge inflation when it comes to housing. A lot of Calgary's housing inflation has been quite recent, but even before the most recent bump, it was still tougher for young people to purchase homes compared to 25 years ago.
 
Where do you live that your house is now worth 5x what it was worth in 2000? I know you said not all houses increased by that much, but it made me curious. 3x seems closer for most of the city.
 
Where do you live that your house is now worth 5x what it was worth in 2000? I know you said not all houses increased by that much, but it made me curious. 3x seems closer for most of the city.
Our old house is pretty close to 5x. Lake Bonavista. Parent's old place in Signal Hill is close to 4x.
 
They can be related if the supply of goods is limited, if productivity is flat. Thankfully that is not the case. Of course supply shocks and demand shocks exist, and government price or supply controls for certain goods exist. At least we can fix the later two if we want.
Canadian productivity is flat, which is why rising wages are inflationary.

Canada stands next to no chance of ending controls on industries like dairy, poultry, telecom, commercial air travel or financial services as those are concentrated in ON and QC. Laurentian Capitalism is based almost entirely on protected oligopolies. The only hope would be Trump making at least some of those conditional on USMCA re-negotiation. The Liberals missed a huge opportunity in, for example, not agreeing to end supply management and open telecom up to competition, in return for a long-term softwood lumber deal in the original USMCA negotiations. They could have blamed it on Trump.
 
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Our old house is pretty close to 5x. Lake Bonavista. Parent's old place in Signal Hill is close to 4x.
The house that I purchased backing onto Fish Creek Park in my mid 20's is listed for 6X what I paid in 1996.

Another data point, the house that my parents bought in 1980 sold in 1996 for 2/3 of the purchase price. It would now go for about 3X the 1980 price. Timing matters.
 
Canadian productivity is flat, which is why rising wages are inflationary.

Canada stands next to no chance of ending controls on industries like dairy, poultry, telecom, commercial air travel or financial services as those are concentrated in ON and QC. Laurentian Capitalism is based almost entirely on protected oligopolies. The only hope would be Trump making at least some of those conditional on USMCA re-negotiation. The Liberals missed a huge opportunity in, for example, not agreeing to end supply management and open telecom up to competition, in return for a long-term softwood lumber deal in the original USMCA negotiations. They could have blamed it on Trump.
Changes in how foreign students are TFWs are estimated is responsible for a big part of this.

Also there should be a big boost when Transmountain, Site C, BC LNG startup in earnest.
 
Where do you live that your house is now worth 5x what it was worth in 2000? I know you said not all houses increased by that much, but it made me curious. 3x seems closer for most of the city.
Cambrian Heights. It's close to the park with a view, so that may have helped the price increases.
 

Why rents are going up so fast in Calgary​



Steve Pomeroy, a Carleton University professor and housing policy researcher, ascribes the surge in population to “a very unmanaged system of immigration for temporary foreign workers and international students.”
“So, what we’ve seen is a double whammy of the massive increase in rental demand — both from pent-up demand by (prospective) homeowners and newcomers,” Pomeroy added.
 
Changes in how foreign students are TFWs are estimated is responsible for a big part of this.

Also there should be a big boost when Transmountain, Site C, BC LNG startup in earnest.
Yet all of the oilsands plants that ramped production during the Trudeau era didn't push up per capita GDP. They likely arrested declines and I expect TMX and LNG Canada to do the same.
 
I hear some of the prices are stabilizing righ now in Calgary, and during the last 6 months Edmonton has seen the highest growth in the country with real estate. Wondering if Edmonton might start going way of Calgary now as Calgary is becoming unaffordable and at the tier right below Toronto, GTA, Vancouver, Victoria, Ottawa.
 
I hear some of the prices are stabilizing righ now in Calgary, and during the last 6 months Edmonton has seen the highest growth in the country with real estate. Wondering if Edmonton might start going way of Calgary now as Calgary is becoming unaffordable and at the tier right below Toronto, GTA, Vancouver, Victoria, Ottawa.
Edmonton will go that direction also. It always has. Typically, Calgary will have a price burst and Edmonton will follow with one about a year or so later, it'll get to about 75% of Calgary's median price and then both will stabilize for a while until Calgary has another burst. At least that's the cycle for the past few decades, and I expect it will be for the next decade.
 

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