give peas a chance Indoor gardening adds zing to salads
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gardening A6
bearspaw/springbank feature a8 – A9
Real Estate (Central)
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FREE mar 29 to apr 4 2013 issue 03-12 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
Time to buy for Gen Y Survey says 30-somethings still dream of owning Cody Stuart
managing editor
Y
oung adults in the Generation Y category are not so different from their parents in one important way – this generation, born after 1982, share the same goal of buying their own home. In a survey released by Royal LePage Real Estate, four-in-five (80.9 per cent) of Generation Ys surveyed indicated they have plans to move to another primary residence at some point in the future, with the majority of those living in the prairie provinces (62.6 per cent) stating they planned to buy rather than rent. Engaged couple Bryan BackmanBeharry and Amanda McNair bought a home in 2012, putting them among those Gen Ys who are already homeowners. Spurred on by their impending nuptials, Backman-Beharry said
the couple’s decision to buy came as a result of multiple factors. “The first of these was our decision to stay in Calgary for the next five-plus years, until that point we were unsure where work would take us, or whether we were ready to be in a different city (than) our families. Once we knew we had jobs we wanted to stick with and still placed a high value on the close proximity of our immediate family, the decision was much easier.” According to the 2012 census, there are roughly 245,000 Calgarians aged 25-34 living in Calgary. Mitigating factors aside, the idea that those Calgarians still have the same desire as previous generations to settle down and establish roots in a community is one reinforced by Royal LePage CEO Phil Soper. “Baby boomers have built homes for themselves. They are established in their neighbourhoods and their residences have become a place of happiness for family and friends,” said Soper. “It’s their children that are seeking to create a similar atmosphere of their own, even though new impediments exist for this younger generation.”
gen y A3
Royal LePage BABY BOOMER and GENERATION Y Survey Do you plan to purchase or rent your next Primary residence? Purchase Rent
0.8%
11.5%
32.6%
3.2%
GY
55.1%
18.7%
18.0%
BB
60.1%
Other Don’t know
kelsey hipkin, Reporter/Photographer
To what extent have the new mortgage rules affected your ability to purchase a home?
4.0%
22.8%
To a large extent
Amanda McNair and Bryan BackmanBeharry are amongst the Generation Y crowd to purchase a home.
To some extent To a little extent To no extent at all
14.0%
6.9%
12.5%
GY
13.9%
BB
33.3%
9.4%
65.8%
17.4%
Don’t know
SINGLE FAMILY
3504 FEB11 4024 MAR11 4395 APR11 4616 MAY11 4744 JUN11 4630 JUL11 4573 AUG11 4753 SEP11 4486 OCT11 3761 NOV11 2761 DEC11 2980 JAN12 3093 FEB12 3367 MAR12 3501 APR12 3842 MAY12 3817 JUN12 3646 JUL12 3535 AUG12 3486 SEP12 3114 OCT12 2586 NOV12 DEC12 1859 JAN13 2075 2048 FEB13
MLS® MONTH END INVENTORY* FEB ‘11 – FEB ‘13
*All statistics based on monthly data compiled by CREB® via MLS® activity.
contents Alberta news briefs extends event listing condo consultation pop the question
A3 A6 A12
Allan Klassen
CREB® STAFF
T
he province has extended its condominium consultation end date an additional month, from April 2 to May 2. This will give condominium owners more time to share their thoughts on legislation regarding the development, purchase and operation of condominiums in Alberta.
provincial A3
commercial
A13
More office space in YYC
Money
A14
Home Buyers Program
mortage rates
A14
map
B1
open houses
B23