HappySqurriel on 19 June 2007
Depends on the market ...
I live in Calgary where houses prices are now averaging nearly $500,000 with few houses below $400,000 ... at the same time most condos start at $200,000 with a "nice" condo starting at $250,000.
Right now I would say that it makes more financial sense to rent because Calgary can grow (pretty much) as large as it wants to and the only thing preventing new houses from flooding the market is a labour shortage; if the labour market becomes a little looser it is likely that the market will drop 15% or more (which would easily kill any equity you built by buying today.
