CBBarnett
Senior Member
I had a colleague think about taking the bus last month because they calculated that their current practice of driving downtown from their house near Nose Hill was costing over $4 / direction in just gas (forgetting financing, insurance, depreciation etc.) This was a corner case for sure just sharing for fun and was mostly as a by-product of higher than previous gas prices and this individual having one of those monster luxury, kitted-out trucks that are essentially designed to celebrate lack of fuel efficiency and complete lack of practicality in a city.No question there's solid demand for the inner city. Even with an uneven playing field, inner city development keeps rolling.
The cost of suburban lifestyle does have a price tag for sure. I never paid much attention to it, but have noticed how nice it is to live close to downtown. I cycle into work, and the cost of gas and parking is exactly $0.00 A pair of coworkers come in from Airdrie and Legacy. They're paying probably $10-15 round trip on gas, and $22.00 for parking. Not to mention wear and tear on the vehicle, and not to mention commute times. Right now it's only one day a week, and they're complaining every time. Imagine if were even 2 or 3 days a week.
It was note-worthy as I have never heard someone with that kind of wildly out-sized, probably $100K+ truck have true contemplation of the daily cost before - because you'd think monthly payments in excess of $1,000/month for a depreciating vehicle would have been the trigger for contemplation before they bought it, not the $4 of gas after they drove it. It's a crazy example, but a real one, and this person could have bought $175,000 larger mortgage for the same cashflow, even at todays much higher interest rates.
I would add there's loads of areas in the newer suburbs that are way better for walkability and daily needs than the stuff built 30 years ago, which should be commended. That West District and whole 85 Street SW corridor is a prime example - it's actually fairly walkable, has a high density of quality restaurants and daily shopping, good pathways, loads of housing choice too. Apart from the lack of mixed use development and the general car-orientation of every suburb we built, it's not too bad by edge community standards.Aside from cost, there's a life style bonus from living close in. Some days after work, a group from the office will head out to partake in some happy hour specials. I like it, because I can have a some beers and hop on the bike and head home when I feel like it. The people who partake all live close to downtown and walk, cycle or have a short transit run. Virtually all the ones who don't live out a ways and can't because they have to drive, and they're always in a rush to beat traffic.
I'm not trying to turn this into an urban vs suburban discussion, but only pointing out that there are some overt benefits from inner city living. Most of the older boomers don't even have a clue of what urban lifestyles are out there.
The only problem - 85 Street SW is a wildly expensive area of the city, with some of the highest prices for homes anywhere, including the suburbs and inner city. This goes to my earlier point against the outdated suburban RW commentary that blanketly assumes "everyone wants a new house, in a new suburbs are they are the only affordable places for new families". This statement was never really true, of course. But the more I look at home prices in the burbs today and the regional bedroom communities, I'd go further and say it's increasingly not clear at all they are the affordable option in an increasing amount of cases, even before factoring the indirect stuff (commute time, multi-car ownership etc.)
EDIT: 85 Street SW is definitely an example on the high side, but Airdrie, Chestermere, outer NE and deep SE are hardly cheap either.
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