Mortgage Interest Rates are the Number One Cause of Price Changes in the Calgary Real Estate Market.

Interest Rates cause home price changes that cause monthly payment changes. The money market controls the home market. The money market is subject to world events and government reactions, and overreactions. One thing is for sure; almost everyone needs a place to live at some point in their lives. The choice then is to rent a home or rent the money. Renting the home is pretty easy and comes with very few strings attached. Renting the money is also pretty easy but comes with lots of strings attached. Either way, you are a renter. Rent the home or rent the money. Either way, you are at the mercy of the money market. Either directly as the title holder or indirectly because you are renting from the title holder.

I’ve done both. Renting a home gives you the least amount of responsibilities and control. Renting money to own takes on more responsibilities and allows for more control. My experience is both are a pain, but renting money to own is less of a pain and presents the best opportunity to gain.

Owning a home vs renting a home is a choice best made with all the facts to weigh alongside your personal beliefs and preferences. The charts below are Calgary Housing Market Facts, and the comments are mostly my beliefs and opinions.

One more thing. There is no such thing as a “Forever Home.” You only get to use it until someone else gets to use it. Life happens. Get used to it!