"Calgary Rip-Off" says buying is now cheaper than renting
Does everyone remember this pleasant and amiable fellow, "Calgary Rip Off?"
He was famous for his love of Calgary. He posted things like this:
"I personally consider this stupid city a stepping stone to somewhere else. My wife hates it here, and Im beginning to see the wisdom of what she has been telling me all along that its overrated, claustrophobic, too cold, etc, etc, not to mention having an extremely ignorant political climate. One last note, people in Calgary move slow, like cows. Maybe that is why they call it cowtown: Dumb and slow."
He also posted this last year:
"No one is holding a gun to my head telling me to rent in Hidden Valley, but Falconridge and Temple arent the type of places I want my daughter running around at. However, the attitude of people who bought their homes here when the houses were worth less than half their current value is disgusting and slimy. Total greed. All I am trying to do is get a decent house for $250-$310K. I dont think that is too much to ask knowing that houses when built in Hidden Valley were probably $180K." Well, I see a house in Hidden Valley recently sold for less than $300,000: the actual price was $288,750. I'm thinking that he might have bought it and that's why we never hear from him anymore.
His payments on a house purchased for $288,750 would be a lot less than the $1650 which he was paying for rent.
With 20% down, 4% interest over 25 years, the payment including taxes(PIT) would be $1328.