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> This isn't really true though. Housing is expensive everywhere, even in unpopular cities, even in cities losing population.

Calgary? Its a hugely popular city, with a similar growth rate as vancouver and yet housing is much cheaper (relatively speaking)

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Very true. The same house I just sold in Calgary for 400k is worth 1.2M in Vancouver and area. Which is why there is so much money coming from Vancouver and the GTA to Calgary and Alberta.

The growth of remote work, fuelled partly, but not entirely by the pandemic has supercharged our market which is two and a half hours outside the GTA. Such a temporary solution though because equilibrium will be achieved with or without Federal intervention. Sadly we won’t probably even get high speed rail transit to and from the GTA out of this.

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