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A real estate sign hangs in front of a Calgary, Alta., home in June.
A real estate sign hangs in front of a Calgary, Alta., home in June.
(Jeff McIntosh For The Globe and Mail)

Oil, gas and household debt: The other boom in Alberta

Anyone who’s strolled through an older Calgary neighbourhood lately will not be surprised by the latest data on household debt.

Modest bungalows built prior to the 1970s are being knocked down at a frantic pace to be replaced by much larger infill houses. The land keeps getting pricier, as do the upscale, largely flat-roofed buildings that replace the old ones.