Tuesday, October 16, 2007

This and That

Albertans - Grumpiest In Canada?- "It seems money can’t buy happiness as a new poll says Albertans are the grumpiest in western Canada" After the incredible rise in their investments they should feel a little happy.

The Sky isn't Falling on Canadian Homeowners - "household wealth has reached unprecedented highs, thanks to years of solid, uninterrupted economic growth accompanied by falling unemployment and rising home and stock prices." Scotiabank Group economist Adrienne Warren. Canada's overall economy is in excellent shape and the most prosperous, though grumpy, province is Alberta.

Rich Man, Poor Man: Two Sides of Canadian Housing
- "A new report by Royal LePage says sales of luxury homes are "skyrocketing" across Canada.

Another report from Statistics Canada looks at the other end of the housing market, reporting that 14 per cent of Canadian households (1.7 million) are facing affordability issues because of high shelter costs." A large percent of those facing affordability issues are young families starting out. Hopefully with the new lower downpayments for mortgages and special first time buyer plans they can find affordable housing.

Home resale activity slips due to high prices but overall picture remains strong - "In both Calgary and Edmonton....the rapid increase in prices has resulted in sales activity declining from record peaks. "They used to be very strong sellers markets and they've returned to balanced territory,". This is a buying opportunity for investors.

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