Saturday, November 10, 2007

It's Not Hard To Believe - US Realtors Down In The Dumps


PricewaterhouseCooper's Emerging Trends in Real estate indicates that people in the real estate industry in Canada are more positive about their prospects for 2008 than their counterparts in the United States.

"The annual Emerging Trends in Real Estate report, from PricewaterhouseCoopers and the Urban Land Institute, shows 36 per cent of respondents in Canada who participated in the study viewed their prospects for profitability next year "very good," and another 22.4 per cent said they are "excellent."

By comparison, 34.3 per cent of U.S. respondents said the chances of a profit in 2008 are very good, and 19.3 per cent said they are excellent. The report is based on interviews with more than 600 real estate professionals -- including investors, developers, brokers and lenders -- in Canada and the U.S." Full Article Click Here

I especially like at the end of the article where they propound Calgary and Edmonton's forecast for 2008-

"Calgary and Edmonton rate the highest as far as investment prospects in real estate, though the report says it's unclear whether the recently announced hikes in royalties for oil-and-gas firms in Alberta will affect this.

Calgary is referred to as "Canada's resource capital" and "North America's No. 1 boomtown." All real estate sectors here are strongly recommended, particularly hotel and industrial/distribution properties."

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