Gnu, Calgary is for rich Alberta entrepreneurs. The average house price here is $450,000 and rising. The Huffington Post predicts a resale price of a half million in 2017, but I think it will be more.

Lots in my neighborhood (and many others in areas where infill and apartments are prohibited) are set at a tax price of about $500,000. Often a resale house here (now about 50-60 years old) is completely gutted and rebuilt by the new owner, at a cost of a few hundred thousand. The house across the alley from me was offered at $1.2 million after the rebuild. Across the street from it is a golf club so it has open grassed area there.