“The reason there is more optimism in Calgary is due to the city being undervalued for so many years compared with the larger centres,” says realtor Cam Sterns with Kirby Cox and Associates at Royal LePage Benchmark.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Although nearly one in two non-homeowning Calgary millennials believe they can purchase a home in the city, the number in other cities is substantially lower. In Vancouver, only 34 per cent do, and in Toronto that figure fell to 22 per cent. In Ottawa, one quarter of respondents stated this was a possibility, while 37 per cent believe they will purchase a home in Montreal.
He adds an additional challenge has been less about prices, which have only recently recovered from the multi-year downturn in the energy sector, and more due to rising interest rates.Article content