Edmonton Real Estate Investor: edmonton alberta investment property

Just scanning the web today looking at the news for Edmonton, Alberta and the economic outlook for the province and the city. It's funny I found four headlines that would leave anyone baffled as to what is really going on. It just goes to show you have to research for your own opinion and if you are reading only one newspaper your information is going to be skewed.

1. Alberta's economy slower but still better than the rest of Canada: TD economist - "I think Alberta and the rest of Canada will do a bit better next year but probably in the case of Alberta only back to [growth of] about two and a half per cent. But that's consistent with what I said last year. A slowdown in growth but not a bust."Don Drummond, the senior vice-president and chief economist of TD Bank

It's positive shows that Alberta is leading the country in performance though everywhere there is a slowdown.

2. Confidence in Alberta economy waning: Survey - "Alberta companies are less optimistic than they were at the height of the province's boom, but most still believe their business will increase in the last three months of 2008, said the ATB Financial Business Sentiments Index."

Slightly negative but it's a survey so based on perception. I guess the Alberta companies missed the above article about the national economic slowdown.

3. Saskatchewan Advantage snags torch from Alberta - ".. it is how our neighbours in Saskatchewan feel as their economy lifts off; their quality of life remains something Calgarians and Edmontonions can only envy; and their premier travels across North America extolling the virtues of his province to obviously appreciative audiences.
By comparison we're stuck in an economic deceleration that is exacerbating -- not mitigating some of our most severe issues -- while raising new concerns about what the province's economy will look like when we've finished "readjusting."

Negative? So often it's hard to tell. The journalist does point out the Alberta has zero provincial debt and is a emerging global superpower. Saskatchewan will lead the nation in some economic areas but in no way has the economy that Alberta does. Beyond that between 2009 and 2012, Calgary and Edmonton are expected to regain first and second place in average annual growth.

4. Look up Calgary! Edmonton is the new powerhouse - "The TD Bank recently came out with a study that concluded if the Edmonton/Calgary corridor was its own country, it would today be one of the most successful economies in the world, second only to Luxemburg in terms of GDP per capita."

Positive! Imagine two cities in Alberta, Canada having one of the most successful economies in the world? It baffles the mind and puts Saskatchewan into perspective. I want to email this story to all the despondent business owners in Alberta.

Sometimes when you have a good thing you take it for granted and often treat it quite badly. As I type that sentence I don't know how many pop songs are flitting through my head. It's quite a common theme.

We do it to cities too. Let's take Edmonton it's had it's booms and busts over the years. Many complain about traffic, cost of living, lack of service, increasing taxes and house prices flattening out. Well if you look at all those things objectively they are signs of a great economy. Don't scoff.

Traffic - Increased traffic means population growth. The city is working hard to improve infrastructure and the LRT and Anthony Henday are huge projects that will relieve congestion.

Cost Of Living - It's low. Albertans still pay the lowest taxes in Canada. What you pay $1.07 for at your local Walmart might cost up to $1.13 in Ontario, $1.12 in B.C and poor souls $1.15 in PEI. Having the highest salaries in Canada doesn't hurt either.

Lack Of Service - This means the economy is booming. It's sad you can't get served as quickly anywhere but that's because we can all get great jobs at high wages. No one wants to work for $17/hr at McDonalds anymore.

Increasing Taxes - Like it or not increasing taxes is good. It means your property values are going up. I don't like and I don't look forward to that time of the year but it's unavoidable.

House Prices Flattening Out - Well if they didn't we would be in a sorry state. Affordability would drop, immigration would peter out and our great economy would slow right down. One year of healthy adjustment is worth all of that believe me. Just wait for 2009 when prices start to inch up again.

The next time you start to complain about Edmonton think of the big picture and maybe you will smile.

Business and Real Estate
How To Invest In Real Estate In The Alberta, Canada Oil Sands - "As a result of record high oil prices, mining oil from the sands of Canada has become a huge industry, which directly affects real estate in the region. This article will explain how you can invest smartly in the real estate of the oil-rich region of Alberta, Canada."

Great tips to get into this market especially now that there are so many deals.

$1.4B deal spurs construction on next leg of Anthony Henday - "We believe this road will actually handle the growth of the city, the population growth of the city, the traffic growth of the city for the next 30 to 40 years," Transportation Minister Luke Ouellette

We all know that improved transportation improves housing prices buy up to 20% in surrounding areas. We are already increasing our holdings in this area.

Edmonton's jobless rate 3.7 per cent - "Despite some of the softer economic numbers Alberta has seen over the past few months - weaker retail sales, lower housing starts etc. - the employment picture remains very bright."

"More than anything else, a strong labour market will support economic growth and consumer confidence in the second half of 2008." ATB Financial chief economist Todd Hirsch

Things will pick up in the second half of 2008 and we'll see some real gains in 2009.

Festivals and Fun - It's summer so why not?

Edmonton's Heritage Festival a cultural treat - "Edmontonians are in for a cultural treat this August long weekend at the 33rd annual Servus Heritage Festival at Hawrelak Park.

The event, described by executive director Jack Little as "the largest multicultural festival in the world in one physical location", runs from Saturday to Monday and features food, entertainment, and arts and crafts from 62 different countries representing more than 75 cultures."

Edmonton Festivals Add To Your Summer Experience -

Edmonton Folk Music Festival - August 7-10, 2008 - Location: Gallagher Park - For more information go to: www.edmontonfolkfest.org

Edmonton International Fringe Festival - August 14-24, 2008 - Location: Old Strathcona historic district - For more information go to: www.fringetheatreadventures.ca

For more information on our festivals or other Edmonton attractions check out www.festivalcity.ca.

Canada should play big role in new world oil order -"This is good from an energy security perspective. However, the increasing attention to climate change, and the very fact that the Canadian oilsands in general have higher carbon dioxide emissions compared to conventional oil is a significant problem for Canada,"

"And I think more and more work is needed to make use of this very important oilsands in an environmentally friendly way."

"He said oilsands production could reach as high as 10 per cent of total world supplies - significant but not enough to alter the so-called new world order. " IEA chief economist Fatih Birol

10% of the world's supplies IS significant if you think that it is coming from Canada a country whose population is just over 31,000,000. With the oil sands producing most of the oil in Canada that brings the focus to a province with a population of 3,000,000 looks like the economy will be quite good there.

Hot-cold house sales steadying - "By the end of the year, Edmonton could get something it hasn't seen for several years -- a "normalized" housing market, as homes for sale dry up and prices drop..."

"The high inventory levels will dwindle into the second half of the year, and as affordability improves, subsequent market conditions will continue to normalize," House Price Survey and Market Survey Forecast by Royal LePage Real Estate Services.

So by 2009 we should see prices completely leveling out with rises anticipated for the year.

Edmonton cultural venues get $6.5 million - "This investment in Edmonton's thriving arts district will help these facilities continue to showcase Edmonton's and Alberta's arts and cultural community for generations to come."

"The Alberta government gave $2.4 million to the Citadel, and $500,000 to the Winspear. The City of Edmonton is contributing an additional $3.6 million to the Citadel."

Edmonton is turning into a world class city with a fantastic arts infrastructure.

New City Website Calculates Carbon Footprint -"For anyone who has ever wanted to know how much a flight to Europe really costs, or the net worth of a daily 25-minute commute, City Hall is offering new answers online.

An element of the city's website launched this afternoon allows residents to calculate their environmental footprints.

A carbon calculator - found by visiting www.edmonton.ca/ecovision - works out the total cost of everyday activities by tonnes of carbon used."

Alberta and the oil sands get a pretty dirty rap from environmentalists. When you are running the biggest project on earth you are always under scrutiny and of course everyone has an opinion. Yet every month or so I find an article about how Alberta is leading the world environmentally one way or another.

"Edmonton will soon become the first city in the world to start turning its solid waste into liquid fuel.

The city has signed an agreement with two Canadian biofuel companies to build a plant that will take regular garbage out of landfills and turn it into ethanol.

Those behind the initiative are calling it a huge step towards sustainable, environmentally friendly energy. "

Although there is a lot of talk about ethanol and how we should be using it, why is an area that is getting so much flak leading the WORLD in this initiative? More action and less talk perhaps??

Find the full article here

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.

Alberta Needs To Increase Presence Globally - "An Alberta government committee is recommending the province sell itself on a grander scale around the globe -- beyond its 10 current international offices -- by opening several new bureaus on four different continents."

Alberta currently has offices in Munich, London, Beijing, Hong Kong, Washington and Tokyo. It's incredible to imagine a province with so much to offer that it has 10 international offices promoting it.

Alberta Bitumen to reach 2 Billion Barrels by 2017 -"A new report by the Energy Resources Conservation Board (ERCB) reports that Alberta’s annual production of bitumen (oil sands) is forecast to increase to more than one billion barrels by 2017, more than two and a half times the amount produced in 2007."

All the oil sands require is a steady labour force and a labour force requires quality rental or single family properties. Real estate is a basic necessity that must be provided.

Alberta's Oil Called Dirty - "..Canadian officials said it doesn't really matter who wins the election; Alberta oil will continue to remain an important source of supply south of the border. Canada regularly alternates between Saudi Arabia, Venezuela and Mexico as the No. 1 exporter to the world's largest oil consumer."

Canada is one of the few countries who joined the Kyoto Accord, remains one of the lowest producers of greenhouse emissions and Alberta is constantly improving it's environmental impact. However we have become a "hot environmental topic" for one of the biggest polluters in the world.

Alberta's Unemployment Rate Up But Still The Lowest - "Alberta's unemployment numbers nudged up slightly to 3.6 per cent in May, but the province still leads the nation with the lowest rate."

Calgary has the lowest unemployment rate and Edmonton has the fourth lowest in Canada.

Todd wrote this article to help house buyers and investors make sure they aren't getting a huge financial and environmental headache when they pick up that "deal" down the street.

"Sadly, we live in dangerous times. We not only have to be careful of shoddy plumbing jobs, leaky roofs and shifting foundations, but we must also check for dangerous and illegal uses of our potential homes. Don't be fooled into thinking that only houses in rougher, low-income areas harbour drug operations: Many marijuana Grow ops are located in middle to upper class suburbs." Read Full Article

If you're poor or relatively poor, it's possible to have many of the things the middle class has," "It's just that you have to pay for them for a longer period of time." Michael Haan, a sociology professor at the University of Alberta
Focusing on needs not wants puts a lot of people into financial debt, they have to stop digging the hole.

Perhaps this is why we have Gen Xs and Ys in so much debt. When graduates start work they are looking a minimum of $20k student loans and credit card debt. Mix that in with a poor understanding of finances and you will have a generation with all the bling but none of the bang in their bank accounts. Preparing for the future financially is something that should be taught from elementary school.

Thank goodness people like Robert Kiyosaki saw the need and filled it and by helping people he became a financial fortress.

Investing when you are young and saving money to invest is so important because once the first home, child and car come you could be looking at a lifetime of debt.