{"id":59674,"date":"2021-02-04T11:25:54","date_gmt":"2021-02-04T18:25:54","guid":{"rendered":"http:\/\/saitjournalism.ca\/?p=59674"},"modified":"2021-03-05T20:45:02","modified_gmt":"2021-03-06T03:45:02","slug":"calgarians-react-to-decreased-property-values","status":"publish","type":"post","link":"https:\/\/saitjournalism.ca\/thepress\/2021\/02\/04\/calgarians-react-to-decreased-property-values\/","title":{"rendered":"Calgarians react to decreased property values"},"content":{"rendered":"
\"\"
Property Problems: <\/strong>Matt Brown, a Calgary homeowner and group account manager for The Co-operators, owns a townhouse in Auburn Bay. (Photo by Ryan Desmarais\/ The Press.)<\/figcaption><\/figure>\n

[dropcap]C[\/dropcap]algary property owners were shocked when their 2020 property value assessments were down an average of two per cent or $10,000.<\/p>\n

\u201cCOVID caused a lot of havoc on a lot of companies, and a lot of people’s incomes have been reduced exponentially,\u201d said Matt Brown, a Calgary homeowner and group account manager at The Co-operators.<\/p>\n

\u201cThe buying power of an average person isn’t as high anymore, so the market obviously corrects for that.\u201d<\/p>\n

Brown owns a three floor townhouse in the community of Auburn Bay<\/a> located in the city\u2019s southeast.<\/p>\n

Although Brown saw a decrease in his overall value, he knows that the properties damaged by the spring hailstorm have seen a much larger decrease.<\/p>\n

\u201cI know specifically with the hailstorm that happened, there was like a ton of damage that happened to a lot of people’s homes, and some of that still hasn’t been fixed,\u201d said Brown.<\/p>\n

\u201cMother Nature hasn’t really liked us much.\u201d<\/p>\n

Brown said that the remaining damage is due to the construction companies not being able to source enough materials in order to meet the demand, and the repairs are going slowly because of it.<\/p>\n

\u201cWe did see a large decrease in the value of our home, roughly $12,000,\u201d said Liam Samaha, Calgary homeowner.<\/p>\n

\u201cOur initial reaction was \u2018Well this isn\u2019t surprising, and could me worse\u2019.\u201d<\/p>\n

Samaha and his wife own a condo in the southeast community of McKenzie Towne.<\/p>\n

\u201cThe buying power of an average person isn’t as high anymore.”<\/p>\n

-Matt Brown<\/p><\/blockquote>\n

Samaha said that he believes the cause of the decrease is the economy and the fact that Alberta is not completely back at work, which is damaging to the economy.<\/p>\n

\u201cI think the drop in value is due to COVID-19 and I\u2019m certain that the value will rise once this is past us and we can get the economy moving and get back to a healthy work life.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Calgary property owners were shocked when their 2020 property value assessments were down an average of two per cent or $10,000. [ READ MORE ]<\/a><\/p>\n<\/div>","protected":false},"author":635,"featured_media":59960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ef_editorial_meta_text_assignment-slug":"S1 Property Value","footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-59674","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-city"},"_links":{"self":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/59674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/users\/635"}],"replies":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/comments?post=59674"}],"version-history":[{"count":9,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/59674\/revisions"}],"predecessor-version":[{"id":60777,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/59674\/revisions\/60777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/media\/59960"}],"wp:attachment":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/media?parent=59674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/categories?post=59674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/tags?post=59674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}