Alberta’s absence of a transfer tax plus the lowest entry prices of any big Canadian city is why the gross yields here lead the national table. The discount reflects slower price appreciation, not a hidden bargain.
Freeze-thaw cycles, foundation movement on clay soils and roof loading are ordinary inspection items. A cheap house with a bad foundation is not cheap.
Provincial government, healthcare, the university and energy services anchor the employment base. No rent control applies, and the river valley is the structural amenity that will not change.