Monday, June 30, 2008

This And That

Real estate meltdown? Not likely - "It's true that a few Canadian cities are showing much smaller price declines - Edmonton down by 4.9 per cent in the past year, Calgary down 2.4 per cent and Windsor down 5.5 per cent - but only in Windsor does this reflect economic distress. In Alberta, the price reversals look more like a hiccup after huge run ups.

So is Porter really suggesting that Canada's housing market is about to follow that of the U.S. down the drain? Apparently not, despite the provocative words. "No, we don't think we're headed for a U.S-style bust, said a colleague at BMO Capital Markets, senior economist Sal Guatieri."

Alberta's business owners optimistic - "Despite worrisome economic signs in the United States and Central Canada, optimism among Alberta businesses is rising, suggests a new provincial survey.

The business sentiments index, released Thursday by ATB Financial and the Western Centre for Economic Research, asked 403 companies across Alberta to gauge their opinion for the third quarter of 2008."

Alberta posts highest earnings growth - "Albertans continue to earn more than other Canadians, according to figures released Friday by Statistics Canada.

April figures show average weekly earnings for Albertans were $873.25, including overtime.

That's up six per cent from the same month last year -- the fastest growth in Canada."

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