Wednesday, June 18, 2008

Fort McMurray Price Rocket Continues

If you want to get into hot sustainable market then Fort McMurray is your bet - just be prepared to pay for it. This little town on the edge of the world's largest known oil deposit has seen that proximity cause housing prices to rise and rise and rise. House prices rose from $518,934 last year to an incredible $$692,127 in May.

"Oil prices are at record levels," adding that a number of oilsands mines are being built in the region, requiring a large influx of workers to migrate to the area. "It's going to keep investments in that region at a high level and if that's going on, the market will do well."Richard Cho of Canada Mortgage and

If the Fort McMurray is too rich for you look to Edmonton the hub between the oilsands and oil distribution.

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