Quote:
Originally Posted by photon
The economic outlook is based on if one engineer moves out of the city?
Other provinces announce a 100 million dollar project and it's front page news for the province, a 1 billion dollar project and the premier gets a statue. Here we have billion dollar projects announced weekly it seems.
Sure there'll be tons of jobs that are done elsewhere, and there will be tons that are created here.
Last year 1/3 of the jobs in Canada were created by Alberta.. we only have 10% of the population. And look at where those jobs were created, across many sectors, not just natural resources and construction.
That's 86,000 new jobs in Alberta in 2006. People are coming here to fill those jobs. Why else would real estate prices across the province go up, because of the nice weather?
I sat and listened to a presentation by the chief economist of the province. He's retiring and this is his last budget, but he's done a pretty darn good job the past while. http://www.finance.gov.ab.ca/publica...lberta_created
I'm an investor, I WANT to know if things are going to go south.. but I need actual real numbers, not some report of one guy moving out of Calgary. |
But real estate didn't go bizerk only in Alberta, and I mean bizerk, not your regular growth like we've seen in the past.
I think construction labour shortage had a lot to do with it too. The builders kept asking more and more money to slow down the demand which they couldn't keep up and the pre-owned homes followed. Now it seems that most of the construction backlog is catching up, how long before we see tons of new homes looking for buyers? And then the price reductions etc.....
Just speculations on my part.