Thoughts on the Alberta economy… Despite some media outlets reporting a slow and inevitable slide into recession, most economists have been in agreement that this will be more of a soft year than a downturn. ATB Financial is forecasting 2% growth for the Alberta economy this year – Not substantial but definitely not a nosedive. Their chief economist, Todd Hirsch says, “That’s not to mean there’s not going to be some unemployment and some loss of jobs and some of that rockiness that comes with this kind of cycle, but our biggest concern at this point isn’t oil prices, it’s fear gripping people and causing things to be much worse than they would normally need to be.” In the Real Estate department, I think we can look forward to a steady (if unremarkable) year. While there aren’t quite as many jobs as there were two months ago, people are still moving to Alberta from all over the country. The demand for housing isn’t going away anytime soon! So, to those that have recently bought, there’s no need to panic about negative equity and plummeting values. And to those who are thinking about buying, don’t expect your dream home to be more affordable in six months! We might not see prices continue to spike like they did in 2014, but it’s still a great time to invest in Real Estate! Here’s the interview with Todd Hirsch, and ATB’s outlook for 2015:
Posted on: Wed, 14 Jan 2015 23:23:10 +0000
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