Edmonton Real Estate Investor: Edmonton alberta economy

Alberta Oil Sands Investment Real Estate News®
Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, Alberta, Canada. Tel 1-888-780-5940 Fax 1-888-276-4517
www.glennsimoninc.com email: info@glennsimoninc.com

February 13th., 2016
Volume 20, Issue 3

Dear Friends and Partners,

For the last few years we’ve seen a bit of a boom in RTO (Rent To Own) investments in Edmonton. There are a few ways to do them. You can bring in an investment partner and with full-disclosure they are perfectly legal. RTO, like many investment strategies, have risks and require their own set of due-diligence questions to go through.

Another investment that isn’t new, but has been popping up quite a bit is flipping and skip transfers (similar versions; wraps, sandwich leases).

Many of these strategies have been around for a long while. There are legal ways to do them and illegal ways to do them. With our market slowing considerably in Edmonton, you won’t find as many people employing this strategy; rather you will see people modifying it to entice a sale for a seller that wants rid of his property. Similar to shorting a stock.

Where you typically see flipping is in hot markets like Vancouver and Toronto. Peter Kinch clarifies what a skip-transfer is in this short video. Watch it here.

Downtown Edmonton: Oliver 9-Unit Apartment

Turbo charge your portfolio. Great, 9-unit apartment, minutes from Ice District; a winner to add to any portfolio. 1972 built, meticulously maintained. Terrific access to local amenities in trendy Oliver.

Mechanical, roof and 6 units all upgraded. This property has a great suite mix; 6 X 2 bd and and 3 X studios, all parking stalls are energized and separately metered.

This property has a tried and true layout and is built to last. Purchase price includes reserve fund and estimated $30K in renos to make the property shine! This is a turn-key deal. Excellent access downtown and in the highly rent-able and desirable neighbourhood of Oliver. CAP rate of 6% and 5% C.O.C. return.

Comes complete with great tenants making this a totally turn-key property for you. Oliver is a mature neighbourhood that is desirable for tenants working in the downtown and attending NAIT. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.

Purchase price: $1.05M
Total Investment: $387K.
Your Estimated 5 Year Profit $151,968.
Your pre-tax Total ROI is 40% or 8% per year

These 9 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: impeccable tenant selection, financial analysis, professional inspection, insurance, financing set-up, legal fees, basic accounting, reserve fund, CMA, bi-annual statements, strategic market planning to ensure successful entry and exit, plus much more!

=========================

Trudeau and Notely talk pipelines and slumping prices with oilpatch

By James Wood, Calgary Herald, February 4th, 2016

Justin Trudeau’s pledges of help were met with guarded optimism in the heart of the oilpatch Thursday, even as the prime minister made no concrete promises around pipeline proposals.
As Trudeau and Premier Rachel Notley hosted a round table meeting in his first visit to Calgary since becoming prime minister, he told a group of top energy executives the government wanted to hear ways Ottawa “can be a better partner in helping you through this difficult time.”

When he spoke to reporters later after touring the downtown YWCA, Trudeau said he believes the battered energy sector is open to a different approach from the federal government. FOLLOW THIS ARTICLE
===============

Jingle mail rears its ugly head in Alberta again
Federal government worried about Albertans making strategic defaults on their mortgages

By Tracy Johnson, CBC News, February 8th, 2016

One of the big bads from the 1980s is starting to emerge again in Alberta.
Jingle mail — the act of walking away from an underwater mortgage by mailing your keys back to the bank — is a peculiarity of the Alberta residential market and an act of desperation. However, a combination of high debt and lost jobs make it an option in a province going through a significant economic reckoning.

It's enough of a concern that the federal government is watching the Alberta market closely. Jingle mail, or strategic defaults, weaken the housing market and increase loan losses among Canada's banks. GRAB THIS STORY

===============

Edmonton real estate market gives reason for optimism

By Graham Hicks, Postmedia Network, February 11th, 2016

You have to forgive Realtors.

They are relentlessly optimistic.

The economy is dropping like a rock. A great time to buy!

The economy is sizzling red-hot. A great time to sell!

I was impressed with the reasonably objective research and conclusions of Edmonton Realtor (and ex-accountant) Kathy Schmidt, in her monthly The Schmidt Report.

The sky is not falling, she argues, not in Edmonton’s housing market.

It has crashed down in Fort McMurray, it’s falling in Calgary, but here, we’re just a little overcast.

Median house prices are down – about 3% — in most of Metropolitan Edmonton, a median price of about $340,000 compared to $350,000 at this time last year. READ MORE HERE

===============

I appreciate all your calls and emails. I'm looking forward to helping you with your next step towards building real wealth.
Your success continues EVERYDAY, let me help you build for tomorrow.

“Accept the challenges so that you can feel the exhilaration of victory.” - George S. Patton

Warm Regards,

Todd and Danielle Millar

If you really want to see what's going on in Edmonton you can take a look at the Citizen Dashboard. It covers transportation, livability, environment, urban form, economy and finance.

If you read some of the news, it's time to batten the hatches an look for cover.

It’s going to be a really brutal year for Alberta’s economy — but next year should be better

Oil-price drop has put Alberta’s economy into ‘tailspin,’ Conference Board of Canada says

Then others say the worst is passing but it's not totally over.

“The parade of bad news has been stemmed a little bit. We’re no longer hearing week after week of these layoffs and all kinds of things we were hearing back in January and February,” said Hirsch. “We still might hear about more. In fact, I’d be surprised if we don’t.
“There’s probably still more weakness to come but I think the worst of the bad news is probably already behind us.” Todd Hirsch, chief economist with ATB Financial

To see the most important indicators of Alberta's economy take a look at the Economic Dashboard

Alberta Oil Sands Investment Real Estate News®
Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, Alberta, Canada. Tel 1-888-780-5940 Fax 1-888-276-4517
www.glennsimoninc.com email: info@glennsimoninc.com

July 16th., 2014
Volume 17, Issue 2

Dear Friends and Partners,

If you’ve been reading our newsletter for more than a few years (we started it in 2005) you’ll remember how dire the early news headlines were. We started investing in Edmonton around 2001 and it was tough to find 'good news' stories then. As we edged into 2005 almost all the stories were good, and by 2007 it appeared everything was golden. Of course we all remember the global recession that followed.

Granted Alberta fared much, much better than other cities, provinces, heck - places, in the world. The "good news" articles are solid and so are the underlying economic fundamentals.

We DO have a unique and resilient economy, coupled with a balanced affordability rate - these things make Edmonton an excellent short and longterm investment.

What I DO want you to remember is that rates to go up, tenants do leave, projects get cancelled, terrorists set off bombs… And like all good things in life, there are up and down cycles.

When you buy correctly and are prepared to hold for the long-term if necessary, you will do well. There are many good properties out there now and with the right mortgage structure, renovations and plan in place, you can build a relatively ‘recession-proof’ portfolio. Get out there and do it!

South Central Edmonton: King Edward 4-Unit Cashflow

This 1961 built 4 suite (Duplex) property is located near King Edward Park and minutes from Whyte Ave and Wayne Gretzky Drive in the mature and desirable neighbourhood of King Edward.
This property has front entrances for the 2 X 3BD main floor units and rear entrances for the 2X 2BD lower units. This property was built as a 4-Unit but has RF-3 zoning.

Lots of modern touches and very good square footage. Shared laundry down, 2 x double detached garages . Excellent access to UOA, downtown and the Whitemud.

Comes complete with great tenants making this a totally turn-key property for you. King Edward is a much sought after, mature area that will benefit further from the proposed LRT near Bonnie Doon.

HUGE upside potential due to the quality of the building, great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.

Purchase price: $705K
Total Investment: $171,400 K
Your Estimated 5 Year Profit $103,785K.
Your pre-tax Total ROI is 60% or 12% per year

These 4 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: impeccable tenant selection, financial analysis, professional inspection, insurance, financing set-up, legal fees, basic accounting, reserve fund, CMA, bi-annual statements, strategic market planning to ensure successful entry and exit, plus much more!
=========================

Alberta economy hot but nothing like the boom of 2006-2007: BMO

By Mario Toneguzzi, The Calgary Herald, July 10th, 2014

CALGARY - Alberta’s economy is hot and inflation is clearly warming up, but we’re not yet at the point where massive upward wage and price pressure in the province will debilitate the economy, says a special report by BMO Capital Markets.
“In many areas, such as housing, commercial real estate and the labour market, the supply side has had much more time to respond to strong demand than during the overnight boom experienced through 2007 — and that might be a good thing,” said the report by senior economist Robert Kavcic. FOLLOW THIS ARTICLE

===============

Edmonton housing prices on the rise, report says.

By Andrea Ross Edmonton Journal, July 10th, 2014

EDMONTON - It’s a seller’s market in the city, as Edmonton’s growing middle class and strong economy have led to a boost in both price and demand for housing.

Condominium prices have increased the most, according to a report from real estate company Royal LePage. The average price of a condo in Edmonton has increased 7.8 per cent year-over-year to $236,429, while two-story homes also increased 3.8 per cent, to $372,112. Detached bungalows took a hit, dropping 0.2 per cent year-over-year to $350,401. READ MORE HERE

===============

Alberta leads country in job creation thanks to ‘perfect storm’ of economic factors
Edmonton unemployment numbers remain steady

By Mario Toneguzzi, Postmedia News, July 11th, 2014

CALGARY — Alberta has once again bucked the national trend and led the nation in job creation in June, according to Statistics Canada.
While overall employment dipped across the nation during the month, it rose in Alberta, although there was a slight downward tick in the Edmonton census metropolitan area.

Between May and June, employment in Edmonton dropped by just 200 on a monthly basis, but is up 31,000, or 4.3 per cent year-over-year, in the Edmonton CMA, the federal agency said on Friday. In Alberta, employment was up 0.4 per cent or 9,400 jobs from May, while it climbed by 3.7 per cent, or 81,800 jobs, from last year. READ MORE HERE

===============

I appreciate all your calls and emails. I'm looking forward to helping you with your next step towards building real wealth.
Your success continues EVERYDAY, let me help you build for tomorrow.

“The only real failure in life is not to be true to the best one knows" - Buddha

Warm Regards,

Todd and Danielle Millar

===SPECIAL NOTICE: NO CASH, BUT GOOD CREDIT? CALL US TODAY TO LEARN HOW YOU CAN OWN INVESTMENT PROPERTY===

P.S. Stay ahead by checking out Danielle's blog at Edmonton Real Estate Investor for all your cutting edge market news and information.

P.P.S. Don’t forget to visit our website and take advantage of the Resource Tools and product section including REIN's #1 real estate books and Quick Start homestudy sets at a discount. Get your copy of the Canadian Success Stories book and the 2010-2014 Top Ten Investment Towns of Alberta and Ontario.

"The Alberta government wants aging workers to put off retirement instead of putting golf balls as a way to stave off a looming labour shortage.
Employment and Immigration Minister Thomas Lukaszuk released Wednesday a strategy aimed at encouraging more mature workers to stay on the job."

As we gear up for a busy stretch in the economy, labour shortages loom. This is a good problem to have, much better than not enough jobs. We'll see more folks drift back to Alberta as the economy starts and an influx of new Canadians pouring in that will help the shortages. I already see an incredible variety of plates every day driving around town.
Read More Here!

Strong oil, wheat prices buoy Alberta's economy - "A new survey suggests happy days are here again for Alberta's economy with crude oil and grains poised to be the hottest commodities in the coming year.

According to the report by Barclays Capital, investors are increasingly bullish on both oil and grain, with prices for both viewed as likely to continue to rise amid geopolitical uncertainty and weather challenges around the world.

"The fact of it is agriculture is a good news story today," said Richard Phillips, the head of the Grain Growers of Canada"

Good signs in agriculture are good signs for Alberta. Remember Don Campbell saying "Food, Fuel and Fertilizer will drive the western region"? You've seen potash highs and lows in Saskatchewan, oil prices regain to above $100 a barrel and now food - agriculture begin its accent. The job new job numbers are terrific too.

Totem builds on it's Canadian roots with sixth Edmonton store - "Before the new Edmonton Ellerslie Totem opened its doors for the first time Thursday, company officials and Royal Canadian Legion members raised a big Canadian flag outside the building supplies store.

It was a not-so-subtle reminder to customers that Totem Building Supplies and its corporate owner, Rona Inc., boast Canadian roots — unlike U.S. imports The Home Depot and the under-construction Lowe’s a few blocks north at South Edmonton Common."

I've posted about a few other stores opening up in the Edmonton area. Some come from the U.S.A. or even further abroad from Europe or Asia. But the one constant to note here is that Edmonton is again on the map for growth. Predictably more stable and spread out growth, but growth nonetheless.

TD forecasts banner year for Alberta in 2010 - "Alberta is expected to lead the country in Real GDP growth in 2012 after a strong 2011.

A report by TD Economics, released Wednesday, projects gross domestic product (GDP) growth of 3.2 per cent in Alberta in 2012, but only 3.2 per cent nationally.

For this year, TD Economics predicts 4.2-per-cent economic growth in Alberta, behind Newfoundland and Labrador at 4.7 per cent and Saskatchewan at 4.3 per cent, but ahead of the three-per-cent national forecast."

Oil will probably stay around the high $90's and step above the $100 mark until the political environment stabilizes in the middle east. Profitable oil (for both the U.S. buying and Canada exporting) is around $85 a barrel. Temporarily high priced oil ads gains, but doesn't help in the long term as it is too expensive for importers especially if the CDN dollar is higher. Hovering around the mid $90s for a few months creates a decent cushion for Alberta as long as we can get down a few dollars to the $80s.

Economic spring appears to have bloomed for Alberta - "Over the past six months, more than one-third of the new jobs created in Canada have been in Alberta, which is home to just over 10% of the country's population. This clearly indicates the Wild Rose province is starting to bloom once more following an extended economic winter. Across major industries, manufacturing has, by far accounted for most (+41.7%) of the new jobs added followed by health services (+25.5%), professional and business services (+18%), natural resources (+10.9%) and agriculture (+8.2%). Reflecting this strong pattern of employment growth, Alberta's unemployment rate fell to 5.7% in February, the second lowest in the country and well under the national average of 7.8%."

Tuesday morning CBC Radio announced that Flint Energy was hiring 1000 immediate positions for jobs with skilled and semi-skilled labour. You show up, you get job. Some of the jobs are in Red Deer and others in Sherwood park, just outside of Edmonton in the modular building site. I heard Mary MacGregor, the chief economist of Alberta speak last week. Mrs. MacGregor outlined the growth indicators showing 2013-2019 to have exceptional growth. Being an economist, these numbers were tempered that there are always unexpected events that can damper the best of economies (remember back to 2008?). Needless to say, the real job numbers are solid.

Attend REIN Private 2011 Kick-Off Workshop as a Guest... 
Get a Rare "Inside Look" on
How  REIN Members Will Make 2011 Their Best Year Ever,
Dramatically Increasing Their Record 
$3,225,580,000
in  Positive Cash Flow Real Estate

When you attend the January 15th Alberta REIN™ "closed-door" All-Day Implementation Workshop as a VIP Guest, you'll discover all you need to invest in the right area!

Click HERE to get to the REIN site.

Click here to hear Realtor Rod Thompson give an update on Edmonton's real estate market.

He confirms it's a buyer's market but points out that selling and getting your price takes a lot more skill in these times. Buyer's take your pick because it's a great time for you. I'm buying now too!

He also touches on the importance of staging, the new mls.ca listing rules and 2011 market forecast.

My apologies if you experienced any delay in receiving the last newsletter. Our server was experience some kind of midlife cyber crisis and was acting a little tetchy. In fact, it has now reverted to our old back up site which doesn't have the new, fresh, updated 2009/10 files on it. Oh well. Even servers want to relive their youth.

I've been busy these last few weeks compiling data about Oil Sands and infrastructure projects for the Northern quadrant of Alberta. As a matter of fact, I took a trip to a small town on the Alberta side of the Saskatchewan border.

These sleepy little towns have a strong pulse as suppliers/distributors to the Oil Sands work stations. What I discovered was that business is up, way up. The Northern heart is pumping.

Last year was one of the roughest, but not without strides being made in the spirit of refocus. I'll be in Vancouver the week after next attending the Canadian mining show. If you want to study the economy, learn about the people, the economic drivers and the real direction of it - get out there and experience it.

Stay tuned for some real, on the ground, muddy boot research from someone who is out in the field and can tell you exactly why (or why not) that little rental house is worth buying. All of my recent and ongoing study shows that the acres of diamonds are still right here in your Edmonton backyard.

Grab your shovel! or Grab this bi-monthly newsletter for great tips on Alberta Real Estate Investments.

Rosy outlook shines on Alberta's economy - "More signs emerged Monday that an economic rebound is starting to take hold in Alberta, as new home construction soared and the hiring outlook improved.

At the same time, rising oil prices continue to boost financial markets, adding more positive momentum to the provincial outlook, analysts said."

"It looks like we've hit the bottom and we're edging back up in Alberta," said Jacques Marcil, economist with Canada West Foundation, a Calgary-based think-tank.

Tripling of housing starts returns builders to pre-recession levels - "There is optimism that the market is showing stability for 2010,"

"Single-family homes are selling well and multi-inventory continues to decline."

"Certainly, our builders are as optimistic as they have ever been since probably early 2007. Let us hope that a jump in interest rates and further constraints in CMHC and other mortgage insurers in eligibility criteria does not dampen demand." Guy St. Germain, Edmonton-region president of the Canadian Homebuilders' Association

Hoteliers, developers support downtown project - "There would have to be a lot of additional economic activity generated to support the hotel," "But anything that can revitalize the downtown is great for the hotel industry in Edmonton. ... Things like a downtown arena are an asset, there's no question about that. Alberta Hotel and Lodging Association CEO and president Dave Kaiser

"If it's done right, it will dramatically change the city," "Everything around it, everything that touches it or is within two blocks of it, suddenly becomes a building site," Downtown Business Association executive director Jim Taylor

Time for a reality check on Alberta's dirty oil - "The real problem here is that most Americans don't have a clue of the importance our energy resources are for them.

Shame on them for not knowing, Shame on us for not telling them loud and clear.

It is our energy that keeps them warm in the winter and cool in summer, and without it they are going to have a very difficult time competing with rising powers like China, India and Brazil.

Getting that message out is becoming increasingly important.

Op-ed articles in the New York Times and USA Today can help. As can forums at scholarly think-tanks. But how do we really do it?

Well, like it or not, those cable television news programs and talk-radio big mouths are what is driving political debate in the U.S. right now. That is where we have to tell the Americans that without our oil they are doomed.

That will get their attention. And it has the added benefit of being true."

As he points out in the article, America's other sources, are not so reliable Middle East, Nigeria and Venezuela to name a few.

United Way raises $20.6 million in Edmonton area - "A struggling economy failed to curb Edmontonians' generosity as companies and individuals throughout the capital region donated more than $20.6 million to the United Way during its recent fundraising campaign."

The total finished just shy of the $20.7-million goal but still beat last year's effort by $56,000.

"Although the City of Champions slogan originated in the sports world, it is truly exemplified by the unmatched generosity, compassion and engagement of its citizens," Wayne Shillington United Way Campaign chairman

What generosity! Way to go Edmonton!

A Different kind of exploration in the oil patch - "Jim Carter, the former president of oil sands miner Syncrude Canada Ltd., recently returned from a trip to Abu Dhabi, where he attended the World Future Energy Summit. Mr. Carter was named chair of the Alberta Carbon Capture and Storage Development Council in April, 2008, and has become a leading proponent of the province's bid to develop the greenhouse gas-busting technology.

Alberta has spent $2-billion to build four pilot carbon-capture-and-storage (CCS) sites. It's a controversial investment in a province that has careened into multi-year deficits, but Mr. Carter's time in the Middle East convinced him Alberta could become a global technological leader if it continues on its path."

Alberta is often a technological leader can' t wait to see how this pans out.

Alberta Spends $2Billon for largest Carbon Capture Pipeline in the world -"Alberta will spend $2 billion over the next 15 years to push through with the largest pipeline system in the world to capture carbon dioxide. The green signal for the project was the recent signing of Letters of Intent with the Alberta government by Shell and TransAlta Corporation.

Once the two projects start in 2015, the yearly C02 reductions would be equivalent to tailpipe emissions of one million vehicles or removing off the road one-third of all the registered vehicles in Alberta."

That is an incredible reduction of Carbon emissions!

Alberta Productivity Lagging -"This is likely to be the first recovery led, not by North America or Europe, but by Asia, and it will be driven by energy and materials," said Leo de Bever, CEO of Alberta Investment Management Corp. (AIMCo).

"Alberta will be right in the middle of it, but we have to do something about productivity."

But Alberta is still in a better economic positiion due to it's lower projected deficit and $17 billion in a sustainability fund

Alberta housing market stilll affordable but costs are rising: RBC Economics -"Although home affordability has deteriorated, it still compares favourably to long-term averages," said Robert Hogue, senior economist at RBC. "Activity in the housing market has picked up considerably in the province since last winter, with prices now stabilizing or even gaining in some areas."

of the benchmark detached bungalow moved up to 34.4 per cent, the standard townhouse to 25.9 per cent, the standard condo to 22.4 per cent and the standard two-storey home to 37.9 per cent.

"The market recovery has been less pronounced in Alberta than in other regions of Canada, largely reflecting the particularly tough economic conditions in the province," noted Hogue. "Nonetheless, still-reasonable affordability levels and an expected economic recovery next year should boost housing demand in the period ahead."

In fact 35% affordability is very good other places, like B.C have seen figures in the 70% range.

Oilsands players hiring again but the economy isn't quite back in the game - "But while the new jobs indicate that activity in the oilsands is picking up, Sumner said he expects Alberta's labour market to remain volatile.

"It solidifies the fact that we know in the long run, these are viable projects and they're going to create a lot of jobs," he said.

"Does this mean that it's a sign the broader economy is turning around? I'm not sure you can quite say that."

Alberta's unemployment rate had jumped by 0.4% to 7.5% in October, an increase that had surprised many observers"

All eyes are looking to 2010 to be the year the economy rebounds, even with an unemployment rate of 7.5% Alberta was better off then most of Canada.

Alta. premier tells Ottawa not to be 'boy scouts' on climate change - “We just want to be very careful that we’re not boy scouts leading here and finding that our best trading partner may have a different plan or approach to climate change,” Ed Stelmach

The environment is the number 1 priority but not so much that the economy should falter. Look at our record with the Kyoto accord.

Alberta doldrums Province's employment insurance claims skyrocket, according to recent survey - ATB Financial senior economist Todd Hirsch said layoffs are usually a method of last resort for cash-strapped employers and younger, less experienced workers will find themselves out of a job first.

Hirsch said that although Alberta's economy appears to have the worst behind it, the job market is likely to continue softening over the summer.

However, Hirsch noted that Alberta's EI claims rose so dramatically because they had nowhere to go but up.

"It's jumped up tremendously since last year," he said. "But it's because we were starting at such a ridiculously low level."

When your coming from record lows increase will look significant as the economy jumps back these figures will drop again to lower ranges.

Part Three: Calgary-Edmonton proposal stuck at station - "Land has been assembled in Calgary and Edmonton, the provincial government is eyeing transportation corridors and there's growing corporate and public interest in the project, but a high-speed train won't be leaving the station any time soon in Alberta.

In the wake of a newly released government report studying the prospects for high-speed rail in Alberta, there's renewed momentum to build the 300-kilometre, multibillion-dollar link between Calgary and Edmonton — one that could shuttle passengers between the two centres in as little as one hour."
When this project is completed the future of these two cities will be incredible. The article states 20 years till any sign of the high-speed train but I imagine we will see building start a lot sooner than that.
If there is a stop in Red Deer watch property values go through the roof.

A lot of jobs in Alberta are seasonal so jumps in unemployment numbers in spring, more students looking for jobs, or dips in winter, oil sands job fluctuations, aren't really indicative of the province's economic health.

In Edmonton some workers are getting laid off or hours reduced but skilled workers are still in incredible demand. In direct contradiction to higher unemployment numbers.

"We're hearing employers are having difficulty finding people,"

"The Shell Scottford construction is seeking over 1,000 tradespeople and Flint Energy is having difficulty finding 200 journeymen pipefitters."

"the worst-hit areas in Alberta for job losses are the agriculture sector, wholesale and retail trade market and areas such as building maintenance."

"The job gains are ... in accommodation and food services, finance, insurance and real estate and transportation and warehousing." Alberta Employment and Immigration spokesman Terry Jorden.

Edmonton, Calgary and Vancouver are the few cities in Canda where unemployment rates are improving.

The elite of Edmonton bankers made their way to Toronto to lure finance specialist and, hopefully, more capital to Alberta.

"Alberta is going to be generating a lot of investment potential in the next 20, 30 years, so we think it's important to have a homegrown financial services industry," says Ron Gilbertson, president and chief executive of Edmonton Economic Development Corp.

Edmonton, Alberta already has $135 Billion, no not million, being managed out of the city. The city has already attracted a lot of capital but now needs savvy professionals to handle and grow it.

"We have the whole ball of wax," Mr. Mowat says. "All of the opportunity is there."

Read More

Today headlines screamed "Edmonton Jobless rate a 12-year high" the jobless rate is almost double what it was last year this time at 6.6%. This is due to summer job seeking students and possibly an influx of new Albertans looking for work in what many think is the best place in Canada to get a job.

"The sharply rising labour market is a reflection that Alberta is still enjoying an inflow of interprovincial migrants. Canadians from other provinces are still regarding Alberta as one of the better places in the country to be looking for work." ATB Financial senior economist Todd Hirsch

However, this seemingly scary number is actually a recognized indicator that the recession may be coming to an end.

"The job market is a lagging indicator, and history tells us that the peak of job losses typically corresponds to the official end of a recession. Judging by that, we are increasingly hopeful that Canada and Alberta have already turned the corner on this nasty recession."

It's interesting to note that although Alberta's jobless rate is at a 12-year high it is still the third lowest in Canada. Proving that it's all how you look at it.

Highway Improvements to Create Jobs in Alberta - "Stimulating our economy and keeping people working during these tough economic times is a top priority for our Government," said Minister Merrifield. "The strong relationship between our two governments enables us to work together to help Alberta communities remain competitive and prosperous, while contributing to the long-term economic growth of our country."

"Our Government is fulfilling the commitments we made in Canada's Economic Action Plan," said Minister Ambrose. "By investing in roads and highways, we will help give our economy the boost it needs, while also creating opportunities to keep Albertans working throughout these difficult times."

Another reason why Alberta is the place to invest for the long term. Systematic building of infrastructure to prepare for the next upswing of the economy.

End is at hand for downturn: Expert- Hype over the economic meltdown has inspired unnecessary panic, as recessions are part of the ebb and flow of a healthy economy, chamber president Martin Salloum said, adding that speculation among members indicates the downturn will reach cessation within 18 months.

“Edmonton’s economy is diverse enough to weather the storm,” he told Metro, adding that proof of the Alberta advantage is omnipresent.

The biggest misconception, Salloum said, is that oil is Edmonton’s economic lifeblood.

“We’re not just a one-trick pony,” he said. “We’re much more diverse than people think.”

Alberta was the first province to experience the economic down-turn and is showing signs of being the first to come out of it. The economy is strong and diverse enough all we have to do is wait for demand to increase and Edmonton will go off.

Home sales reverse course - The number of resale homes sold through MLS in May rose 18.7 per cent over the same month last year, said the Realtors Association of Edmonton on Tuesday.

It's the second straight month of year-over-year increases in Edmonton-region home sales. April's residential sales were up 1.1 per cent over the previous month.

It follows six consecutive months --from October to March--when sales were down between three and 40.5 per cent from the year before.

Association president Charlie Ponde said the two-month turnaround, along with monthly sales increases since January, show the market is recovering, although some of the increase may be seasonal. "Now it has shown that it looks like a trend,"Ponde said.

Down-turn or not people still need a place to live and there are still a lot of jobs to be filled in Edmonton; new employees need a place to live - rent or buy.

Alberta cities score high on economy - Cowtown is Wowtown but Edmonton isn't far behind, says a report released yesterday that gave Calgary a top-of-the-class grade on a global scorecard for overall economic prosperity.

Calgary was the lone metropolis in a survey of international commerce heavyweights to earn an A grade in the Calgary Economic Development-commissioned Conference Board of Canada report.

Edmonton was third. Dallas was sandwiched at second between Alberta's two major centres in the 23-city ranking.

Such results aren't surprising for Calgary, which accounts for 5% of national gross domestic product, despite a local economy cooled by the recession, said Cowtown Mayor Dave Bronconnier.
Edmonton has the same potential as Calgary but with lower house prices and higher affordability. We know where Calgary is economically with Edmonton following you are going to get great returns on housing investments. Buying now with the incredible rates and soft prices is like being at the sale of the decade.

Regardless of what is happening in the short term Alberta, specifically Edmonton and Calgary are the best places to keep your money for long-term returns.

"Cowtown is Wowtown but Edmonton isn't far behind, says a report released yesterday that gave Calgary a top-of-the-class grade on a global scorecard for overall economic prosperity.

Calgary was the lone metropolis in a survey of international commerce heavyweights to earn an A grade in the Calgary Economic Development-commissioned Conference Board of Canada report.

Edmonton was third. Dallas was sandwiched at second between Alberta's two major centres in the 23-city ranking.

Such results aren't surprising for Calgary, which accounts for 5% of national gross domestic product, despite a local economy cooled by the recession, said Cowtown Mayor Dave Bronconnier."