Thursday, May 31, 2007

Canada Top 10 Peaceful Country

Canada is the 8th most peaceful country in the world.

"Norway was rated as the country most at peace, followed by New Zealand, Denmark, Ireland and Japan. Canada placed eighth, behind Finland and Sweden."Yahoo Canada

And We Are Off!

Just a quickie here. Canada is a G8 economic powerhouse. We are going through the biggest economic boom in a long time and Alberta is leading everyone out of the gates.

"The economy picked up steam in the first quarter of 2007 as real gross domestic product advanced 0.9 per cent, more than twice the pace of last quarter.

A slight pick-up in consumer spending and an inventory build-up resulting from strong production fuelled the advance.

Investment in fixed capital slowed and exports eased.

In March, economic output was up 0.3 per cent, after increasing 0.4 per cent in February and 0.1 per cent in January.

Service-producing industries surged ahead in March while the output of goods-producing industries fell." Yahoo Canada News

Tuesday, May 29, 2007

God Bless The Child That Has His Own

"Mama may have, Papa may have but god bless the child that has his own..."
Billie Holiday

More and more Canadians do have their own. They've built their wealth on a foundation of hard work, education and drive.

"According to the 2007 Carriage Trade Luxury Properties Poll (conducted byIpsos Reid), of high net worth Canadians, almost half (46%) cite hard work as
the main driver to attaining wealth, followed by the drive to succeed (27%)
and a higher education (18%). Only four per cent (4%) of respondents chalk
their success and their financial stability to being born into the right
family, while a mere one per cent (1%) attribute it to plain old luck."

It's not really news, I mean Rags To Riches stories are what North America is made of. Your background is irrelevant as only 3% of high net worth Canadians came from affluent families.

"Rags to riches stories are being played out in the kitchens of some of Canada's best neighbourhoods. The poll results revealed that the majority of the high net worth individuals surveyed started from modest beginnings. When asked, "What was your economic status growing up?" only three per cent (3%) of
respondents reported they were raised in wealthy/affluent households, while 79
per cent of respondents came from lower middle class and middle class
upbringings. Four per cent (4%) of wealthy homeowners have risen out of
poverty and now live in a home worth at least $500,000."

The best way to become wealthy is to act and think like wealthy people. So what do the wealthy think about real estate?

"Prosperous Canadians see real estate as an important element in their investment portfolios. Demand for well-appointed properties remains strong with a trend of affluent Canadians owning more than one home. In fact, one-quarter (25%) of wealthy homeowners own two properties, and six per cent (6%) own three residences while two per cent (2%) own more than five properties."

Monday, May 28, 2007

Canadians Rather Buy Than Rent

Times are a-changing and there is no longer the big decision between renting and buying. More and more Canadians are choosing to purchase a house rather than rent. It is now easier to buy a house than it has ever been before.

"Low interest rates and attractive financing options mean Canadians are increasingly choosing to buy instead of rent, even though home prices are rising more rapidly than rents, a new study suggests.

According to a Statistics Canada report issued Friday, many Canadian households have moved from renting to home ownership during the past two decades. Lower interest rates, more attractive financing options and relatively strong economic conditions have encouraged more households to buy homes, in turn driving up house prices, the report said."
Read Article

What does this mean if you are investing in real estate?

More potential buyers for your property. As it is Canada has the fasting growing population in any industrialized nation on the planet, coupled with more people buying means a increase in demand and rising housing prices.

How does this affect Alberta?

Alberta's incredible economy and booming job market is behind the nation's fastest growing population; a 10.6% increase over the last 5 years. So more people are moving to the province for work and they need a house to live in. They will either rent yours and once they save their downpayment - they will buy one of yours. WIN-WIN

Friday, May 25, 2007

BBQ at the Canadian Embassy

The Tokyo Canadian Club is having their annual Summer BBQ at the Canadian Embassy today. It looks to be a sunny day so what else to do but have a BBQ! A great place to meet and greet other Canadians in Tokyo.

Tuesday, May 22, 2007

Haunted Real Estate

Amityville, Britannia Manor, The Hycroft Mansion are all famous haunted houses. Most people wouldn't think about buying them and then others would seek them out to buy. When you want to find that special kind of haunted house this lady is your type of Realtor.

Mary Pope-Handy is a haunted house specialist.

"Once a friend of mine and I walked into a home that just "felt creepy". There was a coldness to the house, we couldn't put our fingers on it but we agreed something really bad had to have happened there. Turns out there'd been a murder in that home not long before. That's what I mean, a place can just feel different - sometimes downright creepy." Visit Her Site

Her site is fascinating, did you know that legally you should disclose that there is a ghost in the house and the buyer could insist you take it with you to your next home? Useful tips! Great Links!

Monday, May 21, 2007

Why Alberta? Rivalled Only By China

The Edmonton Real Estate market has been getting a lot of attention; especially since Real Estate prices rose over 50% last year. Everyone wonders if the market can continue and will the bubble burst.

There is no bubble in Alberta, this market is based on solid economic fundamentals which tend to be superlative to the rest of Canada:


* Alberta is Canada's Economic Tiger - this province's economic growth is rivalled only by developing countries like China and India

Alberta is a PROVINCE that can be COMPARED to CHINA! Amazing.

*Alberta has Canada's highest wages,disposable incomes, personal savings rates and new housing purchases

This means people have more money to spend and thus fuel the economy further.


*Alberta has the lowest unemployment rate in Canada and the lowest taxes

This means people earn more and take home more of their earnings.


*Alberta has the world's largest proven oil reserves and is a major source of water and uranium

These resources are in high demand and their value will rise in the future.

Diverse Economy

*Alberta is more than oil, it's economy features
-information and communication technology
-processing of oil, gas,chemicals, agricultural crops and forest products

Even if oil prices fluctuate Alberta's economy will still be strong.


*Alberta is the only province in Canada with zero provincial debt
*Alberta is committed to free enterprise
*Provincial policies are designed to help Alberta businesses compete in the world market

The province is an economic model for a near perfect economic situation.


*Alberta has the highest worker productivity in Canada

Many large companies are moving/have moved to Edmonton i.e 3M, Intel, Hewlett-Packard as well as many other Fortune 500 companies. This increases the need for labour and therefore housing.

It is the BEST place on the PLANET to invest. Sure the market may plateau, but the economic fundamentals point to a long, long growth trend.

For more information about Edmonton Click Here

Vignettes From The City

I like this article. I look at properties with an eye to invest. Does it fit my system? Does it make sense? Even when I bought the home I intend to live in, it was hard not to run it through my system and make sure it made "sense". When really I should have just checked out the view and seen if the yard would hold an assortment of family, friends and pets.

We always ask sellers why they are selling to see what is motivating them. If we know we can tailor the deal so everyone wins. Here are three residents take on Edmonton's Real Estate market and how it is affecting their neighbourhood.

"Hit Allendale...... and you'll find a mature city neighbourhood where the buying, selling and new construction is impossible to ignore. For Sale signs sprout like dandelions along tree-lined avenues. Rejuvenated bungalows sit aside handsome new homes selling for $600,000 or more." Read Full Article

Thursday, May 17, 2007

Teacher Shortage In Alberta

If you have a teaching degree make way to Alberta.

"Parents are sometime filling in for teachers in Alberta schools as students become the latest to experience the province's labour shortage.

In Alberta's tight labour market, substitute teachers are in short supply and administrators say they're forced to be creative."Click Here

Wednesday, May 16, 2007

Edmonton - Still Kicking!

Yes! Edmonton leads all Canadian cities again, with a year-over-year price appreciation of 51.6 per cent.

"The biggest percentage gains continued to be primarily in western cities. Edmonton's year-over-year price appreciation of 51.6 per cent leads all cities. Saskatoon's price gain of 41.9 per cent and Calgary's 23.1 per cent rounded out the top three." READ MORE


"Real estate agents have been organized in Edmonton for eighty years as of today, and to mark the occasion they've re-branded themselves with a new name and logo.

They'll now be known as the Realtors Association of Edmonton, dropping the real estate board title.

Carolyn Pratt, the group's president says the new name portrays them as a group of professional Realtors." 630 CHED

Realtors Run Ragged

"As higher home prices bring richer sales commissions, "these are good times for Edmonton realtors," but the business is far from easy money, the president of the newly named Realtors Association of Edmonton said today.

The same short supply that frustrates would-be buyers also burdens realtors who "probably are working three times harder than before," Carolyn Pratt said.

Because many listed homes receive multiple offers, "you might make three or four offers before you get a property," Pratt explained. "It may take a month."

Or, a realtor might write several offers for a single client, never close a deal - and earn nothing."
Full Article

I want to thank my Realtor in Edmonton, Romi Sarna. His attention to detail and "extra mile" service is outstanding. He works really hard to get us the best deals possible.

Thanks Romi!

Vacancy Rates at 30 Year Low

Edmonton's vacancy rates will drop to an unbelievable 0.7% and are expected to fall even lower to 0.5% in 2008.

"Strong demand from newcomers and a shortage of new units entering the market will reduce vacancy rates to 0.5 per cent in 2008" Canada Mortgage and Housing Corporation

Low vacancy rates means a tighter rental market and rents will have to increase accordingly.

"The average rent for a two-bedroom unit will increase from $808 per month in October, 2006, to $970 in October, 2007," CMHC predicted. "Further gains will push the average two-bedroom rent to $1,115 in October, 2008."

Big Bucks To Small Science

Alberta, ever mindful of the volatility in the oil and gas industry, has committed $130 million to nanotechnology.

"Our strategy will ensure a robust economic future with more high-paying jobs and a reduced dependence on the most volatile revenue stream in North America, and that's oil and gas."

What is nanotechnology?

"Nanotechnology seeks to manipulate the behaviour of materials that range from one to 100 nanometres for applications in medicine, engineering, computing and telecommunications."

"The technology is already used to create tiny sensors to detect cancer cells and enhance the bonding and durability of hip implants. It can monitor the stress on airplanes and can provide pinpoint analysis of oilsands composition to improve extraction."Full Article

Detractors say Alberta is an economy based only on non-renewable fuel, however, the diversity in Alberta's economy is what is making it THE desirable type of Oil Sheikdom.

Monday, May 14, 2007

From #1 to #213

We hear this all the time.

Client: "I found a great house on the MLS for $100,000!"
GSI: "Oh, yeah That seems really cheap?!" What are the comparables?"
Client: "Don't know but it is cheap so I want it."

Of course there are more factors to investing in real estate than "Location, Location, Location" but it sure plays big in house prices and how good of an investment choice you have made.

This article from the Edmonton Journal lists the 213 neighbourhoods in Edmonton for their overall quality-of-life .

"... a wide-ranging study that looks at everything from the number of single parents to the condition of city streets, the city has amassed a huge pile of data, and a corresponding quality-of-life ranking, on 213 Edmonton neighbourhoods."

The worst was Alberta Ave and the best Henderson Estates. This doesn't mean you should rush out and buy properties in Henderson Estates nor that you should completely avoid Alberta Ave either. Each house is unique and in a city bursting at it's seams gentrification of neighbourhoods is a very likely next step.

Measures Used:

- Number of child welfare cases

- Number of single-parent families

- Number of people who have moved in past year

- Percentage of hospital ER visits

- Rate of hospitalization

- Number of property crimes

- Number of violent crimes

- Number of youth crimes

- Percentage of adults with less than Grade 9

- School transiency rates

- Number of dwellings needing major repairs

- Percentage of dwellings that are rented

- Number of households paying more than 30 per cent of their income on shelter

- Number of households with low income

- Percentage of adult unemployed

- Percentage of food bank users

- Number of welfare recipients

- Number of hectares of parkland

- Condition of playgrounds

- Condition of sidewalk and roadway

For A Look At The Full Article Click Here

Friday, May 11, 2007

More On Edmonton Slow Down

A Blurb from the Edmonton Sun online:

"....the slowdown is "primarily due to the decrease in sales in single family residential lots."Ralph Young of Edmonton's Melcor- Edmonton's Residential Developer

The average lot price has increased as Melcor tries to "keep pace with rising construction costs."

Slipping sales

But sales slipped when compared to the same period last year.

Which is generally what happens in a market.

It's no time to panic, as Young pointed out in his 2007 "outlook."

"The current real estate market remains very active," he told shareholders.

"Continued investment within Alberta," he added, "aided by low interest rates and population growth continue to stimulate the economy." So it's still two thumbs up. Read The Full Article

This reminds me of The Reefer Madness movie. I know people have addictive personalities but wow. Are your kids seeing the back of your head more than the front?

"....For many people, blogging is an addiction that hinders their business and personal life. "The temptation is to devote increasing amounts of time and mental energy to blogging without realizing that your efforts could be more profitably spent elsewhere," explained Robert W. Bly, author of the new book Blog Schmog: The Truth About What Blogs Can (and Can't) Do for Your Business.

Seth Godin, the world's leading marketing blogger, echoes this sentiment, "If you have no editor, you don't know when it's done. If you have no boss, you can work too hard and do nothing else. If you don't have a filter, you might not like what you hear back."

Joi Sigers, owner of 14 blogs, explains, "You have to be on guard, because if you let it, blogging will claim more of your life than you should be willing to part with. You have to ask yourself a few questions. Does my family see the back of my head more than the front? If my Internet connection was down for a week, would I take a break or break down...." Read More

Edmonton Plateaus

Plateaus are necessary in any rising market. Without them you would have uncontrollable growth and a possible bubble. The city still has A LOT of growth ahead of it.

"Increases in new home prices across the country flagged in March, with prices in hot residential real estate cities like Edmonton and Calgary posting only modest gains from February, Statistics Canada said Thursday.

"Prices in Edmonton were flat in the month, though still up 39.8 per cent year-over-year, while Calgary posted a moderate 0.5-per-cent rise and 30.8 per cent year-over-year," BMO Capital Markets Economics reported. Full Article

Condo Due Diligence Service

Condominiums are great purchases in the current Edmonton market. For first time buyers they are a good way to get in to quickly rising market and investors like the rentability, condo boards help with property management and they show a good return. The increase in single buyers have also made condos a hot seller.

The one point to remember about condos is they require more due diligence than other investments. Most important are the fees and reserve fund,

"The fees, paid monthly by owners, can include hydro, heating, taxes, maintaining gardens, snow shovelling, cleaning and repairs. But they may not include all of the above — each building is different. In a new building, the builder estimates the fee.

Condo buildings are managed by boards of directors that are elected and report to the shareholders — their fellow owners. Boards decide how to run the building and, among other things, draw up the yearly budgets, which determine what the monthly maintenance fees will be."

When you look into buying a condo you should definitely have the Reserve fund, Board Reserve Fund Plan, Financial Statements, Current Budget and bylaws reviewed. If it is your first condo purchase it is well worth the money to have a professional review the documents for you. Some companies will review documents and do a unit inspection at the same time, very convenient and the cost is about $400.

"I think the best protection is for buyers to have their documents looked at by condominium legal experts," Mr. Silver says.

"In the majority of cases, there are no contentious problems or issues. However, before buying, it's really vital to have condominium specialists look at all the documentation. That can help prevent surprises."
For Full Article Click Here

Thursday, May 10, 2007

Vanessa Williams Blue Note Tokyo

I feel like I haven't written in a while. Last night I saw Vanessa Williams at Blue Note jazz club in Tokyo. It was pretty good. She is a great singer and I knew some of the songs she was singing but not all. To be honest I prefer the doyennes of jazz i.e. Ella Fitzgerald, Nina Simone, Sarah Vaughan and Billie Holiday. She is a good strong vocalist and I could feel the sincerity in her singing.

Anyway, it was an intimate affair about 200 in the audience and we had a lobster dinner there. It was my mentor's 61st birthday so we also shared a bottle of Veuve Cliqout. I must be getting old or the bubbly was stronger than I thought because this morning when I woke up (5:55am) I felt defeated.

But with a Brian Tracyesque "I FEEL TERRIFIC" I jumped out of bed and started my day.

Hope You Have A Great Weekend,

Danielle Millar

Why does everyone seem surprised????

Title for an article in yesterday's Edmonton Journal:

Most landlords aim to be responsible, reject controls
Property owners expect reasonable return after years of small rent hikes

Of course most landlords are responsible, we are offering high quality housing to people it is not a fiefdom! I want my tenants to be happy, most investors I know realize that the tenants our are most important partner. Landlords who are raising the rents $400 a shot are not long term thinkers.

Tuesday, May 08, 2007

Geothermal - Geo What?

I read an article today on the about the silence surrounding geothermal heat as an alternative to natural gas in the Alberta oil sands.

The use of natural gas is a major source of contention to environmentalist as it requires a lot of energy to produce 1 barrel of gas from the oil sands and our green house gas emissions have been on the rise.

"Today, natural gas is burned to produce the hot steam that's needed to extract bitumen from the tar sands. Alberta's world-famous sands are already the fastest-growing source of greenhouse gases in the country, and on the current growth path, emissions are expected to jump more than four-fold over the next 10 years."

An oil industry consortium is exploring the use of geothermal heating to replace natural gas.

"Replacing much of this natural gas with clean, emission-free heat under the Earth's crust, a completely feasible option according to a recent research report out of the Massachusetts Institute of Technology, would go an enormous way toward achieving a halt, and eventually a decline, in Canada's carbon emissions.

It gets better, the energy is consistent, clean and requires a small staff load.

"Not only is geothermal a baseload resource – meaning it can provide power or heat at a predictable level 24 hours a day – but it doesn't leave behind toxic nuclear waste or carry the risk of meltdown. It also doesn't come with the uncertainty associated with carbon storage and the long-term monitoring that's required to make sure CO{-2} doesn't leak out over time, or escape in a single suffocating burst.

Sounds great doesn't it? Well it has been three months but not a word out of anyone about this. Nothing, I read the original article three months ago and not even environmentalists have mentioned it. Right now the main push is for a nuclear power plant to replace natural gas. I know nuclear power plants are said to be very safe but there are always the nagging doubts....

"......nuclear power doesn't sit well with his riding, which has a large Ukrainian community. For many, memories of Chernobyl are still vivid and the idea of putting reactors in the oil sands raises a stiff eyebrow. "A lot of people get pretty antsy about that....."

For the Full Article Click Here

Sunday, May 06, 2007

The Future Of Jasper Ave

"Several developers have welcomed a Calgary company's plan to build a Jasper Avenue skyscraper and say they'll compete with their own towers -- if they sign tenants.

George Schluessel of Procura Real Estate Services hopes to start construction next year of up to 40 storeys of retail, office and condominium space between 102nd and 103rd Streets on the south side of Jasper Avenue.

He said Friday that he'll proceed either if his condo pre-sales succeed or if he pre-leases the office space."

"That type of project is quite common in some markets like Vancouver and Toronto, and maybe it's time for it to come to Edmonton," Melcor Developments CEO Ralph Young said.

Looks like the big city is coming to Edmonton. It was bound to happen sooner or later with international investors and multi-national companies coming to build offices in Edmonton. We need to offer a world class city with a world class downtown area.

Thank Goodness for More Inventory

"Edmonton house price increases slowed in April as more inventory came on the market, Edmonton Real Estate Board reported today.

But dont expect prices to actually drop in the coming months....." EREB president Carolyn Pratt

Thank goodness. Trying to find a GOOD property in this market was incredible. Don't forget too in a seller's market people unload properties that aren't working for them. You have to be extremely careful in your due diligence!

Money Sense or Non-Sense

I enjoy reading articles about investing and like to get a wide range of opinions on the best way to invest. To be honest I am wholly sold on Real Estate as a solid investment and though, yes, I hold paper assets; the bulk of my investments are in real estate. I came across this article written by David West a writer for Canadian Business Online

"Now, lest you think that doubling your money on any investment is a good thing, let me share two pieces of advice. First, if you're looking to make money in real estate, don't buy a house. And second, if you're thinking of buying a house, don't expect to make money on it if you do. Here's why.

Let's assume that CIBC's forecast is correct, that housing prices dodge the demographic bullet and rise in price in the years to come, rather than fall. Even if that happens, and you make 100% on your house in the next 20 years, do-it-in-your-head math will tell you that's a return of only five percent per year. Compounded, that's only 3.53% per year. In fact, CIBC's forecast included a 2% inflation assumption, which knocks the return down to less than two percent per year. In comparison, even lowly Treasury bills pay 4.17% annually right now, and CIBC's current dividend yield is 3.09%. CIBC's stock price is also up 1.4% so far this year, and 20.4% in the past year.

So, if you're thinking of buying a house, don't do it with the idea of making money. There are lots of reasons for owning your own home, but don't make profits one of them. Moreover, if you already own a house, don't count on it contributing significantly to your net worth as you approach retirement."
Click Here for Full Article

Most people don't buy a house outright. He is forgetting about the power of leverage and the low rates at which the bank will lend you money to fund your investment. If you put down 20% down and made 2% on the total value of the property that is a good return. What do you think?

Friday, May 04, 2007

Go Long Or Go Home

While detractors shout the market is over, real estate experts see the long economic picture of Western Canada; becoming Canada's economic center.

"High property prices in Western Canada will help spur international investment in downtown commercial markets across the country, say real estate industry leaders.

"We're going to see more pools of capital ... heading to the West, depending on the requirements or the nature of the investor," said Avtar Bains, senior vice-president with Colliers International in Vancouver, at a recent real estate forum in that city.

But Bains indicated it's also common for investors to look at Alberta and Central Canadian properties instead of Vancouver, because of the West Coast city's high property prices and low profit margins.

Alberta's idealized conditions are what are appealing to investors. Look for a region with "a future not a past", as Don Campbell often says. The economic fundamentals of Alberta are much more than Alberta oilsands. They are about a perfect economic region that constantly grows and adapts.

"Jason Clemens, a director of fiscal studies with the Fraser Institute, a Vancouver-based thinktank, said B.C., Alberta and Saskatchewan government policies are helping Western Canada's strong economy.

"It's not just about commodities," said Clemens.

He said the B.C., Alberta and Saskatchewan governments have created the right investment environment by reducing or eliminating corporate or personal income taxes - despite their ruling parties' distinct political differences - while Ontario's government has gone in the opposite direction.

He predicted Alberta, B.C. and Manitoba - in that order - will enjoy the strongest growth in 2008.

The four Western provinces will have the lowest unemployment rates while Toronto will remain around the national average."

Go Green

The Globe and Mail put out an excellent article on how we can all make our homes greener. Although the information is localized for the Toronto area some ideas you can fiddle with and apply them to your own home.

The newer greener choices available out there are really interesting and frankly sound more aesthetic than what we are using today. I DO like grass though.

Click Here For The Article

Thursday, May 03, 2007

Chamber of Commerce - No To Tax

"The president of the Edmonton Chamber of Commerce has added his voice to those opposing a property transfer tax.
There's no connection to service delivery, Greg Christenson said of the proposed tax. Its just a tax grab." Full Article

The chamber joins the Canadian Federation of Independent Business and the Edmonton Real Estate Board in opposing the proposed tax.

"The boards president, Carolyn Pratt, said a one-per-cent tax would take $4,000 from the sale of an average Edmonton house."

Do Due Diligence.

Cheryl-Lynne Braun was sentenced to seven years in jail for a "ponzi scheme" type scam that defrauded investors out of $23,000,000. She spent $11,000,000 of her ill gotten gains gambling in casinos around Edmonton. Now Braun blames her gambling addiction for the fraud of 89 people.

"In a victim impact statement, one person said the crime was a “very trying time” for their family of six because it happened right around Christmas time and made for a “minimal” celebration, especially for the children."

Click to read full article

Do your due diligence. It doesn't matter WHO it is or how legitimate it seems, this market is the perfect place to get scammed and lose your hard earned money.

We insist our investors get independent legal advice, and we offer reference letters from professionals on our team and our past clients. If you can't see/understand the deal easily then it probably isn't for you! Check with your lawyer or get independent legal advice. Confirm things for yourself. If you have to lie to close a deal and are told it is okay because "It's not really illegal" then run far and fast.

Wednesday, May 02, 2007

Market To Cool

Wherever Calgary goes Edmonton is sure to follow. As the Calgary market cooled a little in the first quarter of 2007 everyone is nervously waiting for a market drop.

The rock solid economic fundamentals of both markets will not allow a big price reversal but a little cooling of the market is nothing to be afraid of.

In fact we welcome it.

Multiple offers on properties that often go unconditional (not a good thing), rapidly raising housing prices and little product have made picking up properties really hard in the current market. We need the market to slow down a little so we can position ourselves for the next big wave. Just remember cool doesn't mean bust.

Worse Than Bombing

Julian Koziak a politician who oversaw rent control in the final years of Alberta's last big boom is against a return to the idea.

"It's been written that rent controls have done more damage to cities than bombing Koziak was quoted on Tuesday. He also said they discourage construction.

"It was part of a national response to an economic crisis that resulted from inflation," he said. "Interest rates went through the roof and hit 21 per cent."

Alberta imposed rent controls reluctantly in late 1975 to comply with the federal anti-inflation program. The plan was to limit increases to 10 per cent in 1976 and nine per cent in 1977, then end the controls.

The scheme coincided with Alberta's last big oil boom, when vacancy rates fell almost to zero. As a result, there were fears rents would soar when controls ended, so the province ended up extending the plan, eventually phasing out controls by 1980 -- shortly before the bubble burst and vacancies became widespread."

Click Here To Read Article

Proactive Realtors Target Job Fairs

Realtors have started going to job fairs in hopes of assisting newcomers to Edmonton find housing. Of the 3,000 people that attended the St. John's, Nfld job fair 200 accepted immediate job offers. Even people who take camp jobs to avoid the housing crunch soon tire of the conditions and often move to a house or rental property.

"About half of the 3,000 people at the job fair were more interested in renting than buying -- for now.

But the realtors also will assist them because "after they're here for a few months, making good money, probably 30 per cent of them will buy......"Glen Good Realtor - Edmonton Journal

So what? These people are bolstering the market, they move here rent a house for a while but soon realize that they like the city or buying makes more sense financially. They support both the rental and resale markets.

The realtors who go to these events drumming up business are avoiding losing their fees to online sell-it-yourself companies. Especially now when listings on the MLS are at record lows and demands at record highs.