Our city is hurting.
We’ve been here before. I first moved to Calgary in 1982. I fell in love and got married in August 1984. (Our engagement photo is classic 1984 – look at that hair and moustache!) Young and naïve, all I wanted was to take what I thought should be the next step for an adult – buying a house.
Our first home was a beautiful townhouse in Coach Hill. We assumed the mortgage (something difficult to do now) and the interest rate – at 21.5%. Really.
All these years later, I still wonder at the sheer ignorance of that decision. I think we were one of only a handful of buyers in Calgary in 1984. No sane people were buying. House prices were plummeting. The real estate market was crashing. The unemployment rate was skyrocketing. And, yes, interest rates were off the charts.
But love is blind. My world was perfect.more …