It's still cheaper to buy a resale condo than to rent an apartment in Calgary, says a federal agency. The monthly carrying cost on the purchase of a condo through the MLS system--assuming a 10-per-cent down payment and a five-year fixed but discounted mortgage--comes in at between $1,100 and $1,200 per month, says Canada Mortgage and Housing Corp. While the cost is declining, it still takes about $1,600 per month to rent a two-bedroom apartment.
-By Marty Hope, Calgary Herald
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