Rosy outlook shines on Alberta's economy - "More signs emerged Monday that an economic rebound is starting to take hold in Alberta, as new home construction soared and the hiring outlook improved.
At the same time, rising oil prices continue to boost financial markets, adding more positive momentum to the provincial outlook, analysts said."
"It looks like we've hit the bottom and we're edging back up in Alberta," said Jacques Marcil, economist with Canada West Foundation, a Calgary-based think-tank.
"Single-family homes are selling well and multi-inventory continues to decline."
"Certainly, our builders are as optimistic as they have ever been since probably early 2007. Let us hope that a jump in interest rates and further constraints in CMHC and other mortgage insurers in eligibility criteria does not dampen demand." Guy St. Germain, Edmonton-region president of the Canadian Homebuilders' Association
Hoteliers, developers support downtown project - "There would have to be a lot of additional economic activity generated to support the hotel," "But anything that can revitalize the downtown is great for the hotel industry in Edmonton. ... Things like a downtown arena are an asset, there's no question about that. Alberta Hotel and Lodging Association CEO and president Dave Kaiser
"If it's done right, it will dramatically change the city," "Everything around it, everything that touches it or is within two blocks of it, suddenly becomes a building site," Downtown Business Association executive director Jim Taylor
February
Alberta keeps edge as Venezuela's oil reserves surge - "On the industry-accepted Oil & Gas Journal list, Saudi Arabia comes first, with 264 billion barrels of largely easy flowing crude, followed by Canada's 175 billion barrels of oil, mostly from the oilsands. With 99 billion barrels, Venezuela trails Iran, Iraq and Kuwait.
"It all depends on how you count your reserves, and in Canada our data are open, transparent and reviewable. You can even look at the drilling logs and core samples," Greg Stringham, vice-president of the Canadian Association of Petroleum Producers
"The situation in Venezuela is significantly different than Alberta, given the political environment and the uncertainty there, so that also suggests that, while there may be more oil there than some people had thought, there's a big, big leap from there actually being more oil to having more oil produced. That is, at the end of the day, what really matters."
Canada still ranks as number 2 in the world for oil reserves. We are THE safest place to get oil in the world.
Economic revival sweeping western Canada - “The West is on fire,” said Adam Waterous, Scotia Capital's Calgary-based head of global investment banking “It's fantastic news for the country. These are big, big projects that are going to get developed. And there's no question that the West is going to lead the country out of the recession.”
Bring it on! We are ready to ride out of the recession Alberta style!
Olympic games no golden economic opportunity - "Closer to home, here in Alberta, the Games have already produced some notable economic winners. The biggest of all is Edmonton-based PCL Construction, the lead contractor on the $900-million expansion of the Vancouver Convention Centre.
The sprawling waterfront structure on Burrard Inlet, next to Canada Place, will serve as the international media centre during the Games, and home base for some 8,000 journalists.
The closing ceremonies for the Games will take place at B.C. Place, where PCL, once again, will oversee another huge project. Although it won't start until after the Games end, the $458-million scheme to install a new retractable roof on the stadium, home of the B.C. Lions football team, will rank among the largest construction jobs in Western Canada this year."
The Olympics are a fantastic celebration of excellence but they may not sell your home.
January 2010
Happy New Year! What a decade. It started with Y2K and ended with a global recession. It seems 2010 is bringing new optimism in it's wake and the news is reflecting that.
Canada's Oilsands look set to bounce back - "THE GLOBAL recession has, at least temporarily, put the brakes on for Canada's oil sands industry. But it can bounce back, says a November 2009 report from the France-based International Energy Agency (IEA), if environmental and economic challenges are met.
Canadian oil sand resources are located almost entirely in the province of Alberta, occurring primarily in three areas - Peace River, Athabasca and Cold Lake. According to the Government of Alberta, current capacity is 1.757m bbl/day, up from 2008's 1.2m bbl/day - itself a doubling of 2000's capacity, and a tripling of 1990's capacity."
"Because of the disappointing results in the US and the expansive reserves in Canada, the technical expertise and financial resources for oil sands development has shifted almost exclusively to Canada and [they] are likely to stay in Canada for the foreseeable future," Marc Humphries, energy policy analyst for the US-based Congressional Research Service.
2010 is the year to prepare because the oilsands are going to really bounce back by 2011. Enbridge has planned $10.2B in oilsands projects between 2009 and 2013.
Alberta poised to lead in growth - "Following a sharp economic contraction this year, Alberta's economy is forecast to be one of Canada's fastest growing provinces in 2010.
Scotiabank economist Alex Koustas predicts that in 2010, the energy province's GDP will grow by 2.9% after shrinking 2.6% this year.
Only B.C., at 3%, is forecast to grow at a faster rate.
Come 2011, Alberta will be firmly planted ahead of other provinces, thanks to a growth rate of 3.5%, Koustas said."
Housing market rebounds - "It turns out, the Realtors Association of Edmonton president wasn't optimistic enough.
"We predicted residential sales of 15,550 this year and exceeded it in early October," Ponde said on Tuesday as the group released its final month of Multiple Listing Service figures for 2009.
"We anticipated that single-family prices would end the year at $352,000 and condos would be at $222,500."
The average prices turned out to be $364,032 and $240,322, respectively."
Real estate market expected to remain strong in first half of 2010 - "However, the Canadian real estate market has been much quicker to recover than its American counterpart, in part because of a more stable banking industry, historically low interest rates and improving consumer confidence.
Royal LePage executive Phil Soper says Canada's real estate market enters 2010 with "considerable momentum from an unusually strong finish to the previous year."
The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity to new highs, he said in a statement.
-Edmonton: Detached bungalow, $299,286 (down 0.7 per cent); standard two-storey home, $340,557 (down 1.2 per cent)"
Canada backs Alberta Carbon Emissions Pipeline - "This new pipeline will significantly advance Alberta's capacity for future carbon capture and storage projects," Alberta Premier Ed Stelmach said in a conference call Tuesday. "The Alberta Carbon Trunk Line will be the backbone of CO2 transportation for Alberta. It will be built with long-term capacity in mind, so as more companies capture CO2, they will be able to connect to the line."
Alberta still best place to invest in Canada -In the Olympics of investing Alberta is still the gold medalist. The province got a score of 8.5 out of 10 in The Provincial Investment Climate Index.
This index has seven main components: corporate income tax, fiscal prudence, personal income tax, transportation infrastructure, corporate capital tax, labour market regulation, and burden of regulation.
"Alberta came in first place on most indicators including corporate income taxes, corporate capital taxes, personal income taxes, fiscal prudence, and labour-market regulation. However, Alberta ranked seventh on transportation infrastructure, which assesses highways, urban transit, air, rail, and marine service."
The article states that Alberta is losing ground to other provinces. Saskatchewan comes in at 6.6 and British Columbia at 6. Those two provinces saw a year over year increase of 0.7 and 0.2 certainly they are improving but still no where near Alberta's stellar 8.5 performance.
November
Real Estate Market In Recovery - CMHC -"Housing starts have begun to recover and should improve in the second half of 2009, according to the Canada Mortgage and Housing Corporation.
However, the CMHC also warned in its newly released report that the high level of activity in the first part of 2009 was the result of delayed transactions and would not likely continue at such a pace.
In its fourth-quarter "Housing Market Outlook," CMHC forecast that starts would reach 141,900 for the year and 164,900 for 2010."
We'll have to see what the "dead" season brings- real estate in Alberta is seasonal and winter is the time that makes or breaks many people.
Alberta leads nation in optimism - "Just months ago, Alberta small businesses were among the hardest hit by the economic doom and gloom. But now, they are among the most optimistic in the country.
That's according to survey results from the Canadian Federation of Independent Business.
"The sectors that continue to lag are agriculture, retail, and in some areas, the real estate sector as well, and oilfield services," says Richard Truscott, the CFIB's Alberta director.
Truscott adds the optimism in other sectors is a good sign that the economy is recovering."
We can see it the bump in real estate prices. I think Albertans will hit 2010 running ready to start making the economy work after a rough year and a half.
Survey reveals 53 per cent of Canadians lack the skills needed to build wealth - "In the survey, 77 per cent of Canadians (alongside 82 per cent of Americans and 72 per cent of Brits) said they were ready to make sacrifices in the short run to accumulate enough wealth for a more secure tomorrow. It seems they want to live a fuller life, and not just work full-time in the long run. Generation Y Canadians (aged 18-24) led the charge in this category at 88 per cent. Surprisingly, separated, divorced or widowed Canadians were least open to making immediate changes at 67 per cent.
"At a time when so many people are facing unprecedented economic challenges, the optimism we saw across all borders was heartening," says Paul Gallagher, Managing Director, Tigrent Learning Canada Inc. "Wealth-building skills can be learned, and Canadians, especially our younger generations such as the Gen Y seem to have an invigorated vision for their financial future. They don't just want to survive this recession; they want to prosper so they're becoming drivers, not passengers in this economic recovery process."
The only way to be financially secure is to take your money matters into your own hands. If you don't have the time to become a real estate investor then hire a proffessional who cares about you money. That's where we come in.
