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Originally Posted by photon
I think it's hard to call property prices here a bubble still, if a recession only takes off 10% then that's still pretty well supported prices.
But you are right, higher interest costs will slow things down, but I think they've said that as long as inflation doesn't become an issue (and hard to think that it will coming out of a recession), rates will stay where they are for at least a year. Things could change, but I think that's as good a guess as any.
Longer term as rates increase that'll keep things from overheating again, but as long as people keep moving here and the economy keeps growing, we should be ok.
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Actually inflation is a big problem after recessions. This one might be different though as so much money supply simply vapourized.
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To me the biggest threat to Alberta is the government. After years and years of making Alberta super attractive to business investment (O&G especially), it seems now that the government doesn't care as much. If companies move elsewhere, so do the jobs, and so does the growth. That's something that concerns me.
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Back when oil first hit $50, Shell was growing and making lots of profit. Now that it's $70 from a high of $150, Shell's losing money. That's management incompetence at its best.