Why is real estate in Edmonton so cheap?

I moved from Edmonton to Vancouver. My property in Edmonton continues to drop in value and is worth $100K less than I bought it for.

Bought a condo in metro Vancouver. It doubled in price in a few years. Used that to buy a house less than a year ago and it’s up $300K already from the tail end of the buying spree.

If I stayed in Edmonton I’d be 12 years into a mortgage and still have zero equity. Sure I’d save more, but you need to as nothing is near Edmonton.

Being in Vancouver less than 7 years has bumped me up over half a million. Sure I save less, but I ain’t saving that kind of scratch in Edmonton, and you’d be in Edmonton.

/r/PersonalFinanceCanada Thread Parent