[JustDandy]

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.

we all know that Edmonton is a compromise however I suspect many in Calgary are getting fed up and moving to Ed for some pricing relief.

 

[CalgaryTiger]

Calgary year-over-year rental rate falls below inflation

Prices in Calgary for residential rental properties have softened, with the latest data from Rentals.ca showing year-over-year rates for July rising just 1.9 per cent for one-bedroom apartments. Th…

livewirecalgary.com

We're still not going up as much as the national rate.

It will take another few interest rate drops and less people moving here (internationally and nationally) for us to see prices start going the other way. Being below the national still means people from Ontario and BC will look at Calgary and if that's still too much they'll look at Edmonton. I suspect both (changes in migration/immigration and interest rates) will take 6 months to a year to make their way to the rental market because those are typical lease terms but maybe it is quicker than that. Granted Toronto and Vancouver are unaffordable to buy in and I don't suspect a few interest rate cuts to change that but less students and renters in those markets is already affecting condos.