Tuesday, April 17, 2007

Alberta Equity Locusts

We all have heard stories of if not directly experienced the role played by equity locusts in driving up prices in an area. Just a few years ago, home owners from BC moved to Alberta in search of cheaper and more affordable housing. And they probably played some role in driving up prices in Alberta.
Now, it's the turn of Alberta home owners to 'spread the wealth' to other parts of Canada. Here's a nice article that talks about equity locusts from Edmonton fleeing to Saskatoon and driving prices up there.
From the article:
"Many property-rich Albertans have targeted the city, they say, as the next in line to experience the kind of huge upswing in property values that have swept through Calgary and Edmonton."
What is going in Saskatoon? Oil Sands? Natural Gas? There is a strong resource sector in Saskatoon, but nothing that really should cause such dramatic increases in prices. What has caused a doubling of prices there? I guess it's the same exuberant belief that has driven prices worldwide.
Who is next in line? Equity locusts from Saskatoon driving up prices in Yorkton(where you can currently buy a home for under $50k) and Moose Jaw? When will Winnipeg's turn arrive?
blog comments powered by Disqus
Real Estate Blogs - Blog Top Sites