Considering a Move Away from Alberta
I think often about moving out of Alberta, and home to BC.
Most of my background has been in O&G, primarily blue-collar working in remote work camps, or hotels away from home. Of the people I worked with, on many projects, 9/10 or more were out of province, many who bought flights every set of days off to return home, only to come back here to work. Though they made much more money here, they banked little to nothing. They were constantly afraid of losing their jobs, and worked with low morale.
I have a love for water, and the Okanagan area. I am BC born and raised. I also used to dream about going to Toronto, especially having a former financial background, and wanting to be in the financial center of Canada. I don’t like Alberta. Though I’m not willing to lose what I’ve gained here and can still gain here.
What is worth $X is subjective, however. The Alberta advantage over being in other provinces, has diminished. If I could get ahead financially to a similar extent in another province, I’d likely take it. This has been a common scenario due to the wages and employment market declining in Alberta.
The above was in response to the following communication:
It’s always surprising to me at just how much people are willing to sacrifice in order to live in either of the two most desirable places in Canada. Maybe more so now during COVID than ever before… our Province is full of people from BC, Ontario and the Maritimes, myself included. Working for the Government of Alberta I’ve seen numerous individuals from Ontario leave six figure salaries just to go back home to essentially nothing… People that start these discussions, they’re not really looking for their minds to be changed or to hear someone else’s opinion. Instead, they’re looking for affirmation as to what they’re already going to do. You can tell that too because… [they were] talking about the Conservatives in our Province and the potential of new taxes being introduced. That alone should kind of tell you pretty much what… [their] intentions were from the start; which was to leave Alberta and enjoy that sweet GTA life.
Speaking of life, everyone is free to live theirs and make their own choices. I fully support that and I’m never going to argue against it.
I remember working with one guy awhile back and he left a nearly six figure GoA salary to go back home to the GTA. I remember this guy missed the GTA so much that he would fly home almost every month just to be with his friends and family. Flair was probably making a fortune off of him.
His new part-time job with the Government of Ontario made him redo all of the training (3 months) for the same position and half the salary. To him, that was worth it and he couldn’t be anymore happier living in Toronto. He actually ended up buying a townhouse in the GTA for somewhere North of $700k and he’s living his life. He’s in his happy place and that’s all that matters. He might never pay that townhouse off in his lifetime. He might see mortgage payments and condo fees coming out of his account past the age of 65 or he might not.
My wife and I on the other hand will pay off our $400k detached Edmonton home in the next 10 years. After that, we’ll both be 44 years old and our life will get significantly easier. We’ll be able to travel the world with our kids more and make other purchases without taking into consideration that $900+ dollar biweekly mortgage payment.
At the end of the day, like I said, different strokes for different folks. I’m not saying I’m any better off than the other guy but I do believe that if your life is anything like mine, then mortgage/rent is your biggest obstacle in this country.A fellow Albertan who originally came here for economic opportunity.
RE: Increasing Home Ownership Rates Despite Economic Conditions
There always will be people with too much money to spend, regardless of economic circumstances. Whether it be their own money or other people’s money they got parked in banks. Around here in recessionary Alberta, as soon as the newest facelifted pickups, BMWs, Mercedes, etc. come out, you see them all over the place. People still buy big new houses, and get laid off shortly after. The money still flows, just selectively. This in an era where employers pay decreasing wages with less work, because the next sucker will do the job for less pay.