tag:blogger.com,1999:blog-7588496932754350322.post2969399272844755398..comments2023-09-10T03:39:48.166-07:00Comments on Alberta Bubble: Going Crazy in SaskatoonUnknownnoreply@blogger.comBlogger30125tag:blogger.com,1999:blog-7588496932754350322.post-68723071790328883172008-04-03T23:11:00.000-07:002008-04-03T23:11:00.000-07:00Check www.thebench.ca ... apparently Saskatoon's h...Check www.thebench.ca ... apparently Saskatoon's house prices are more than Edmonton'sdougyhttps://www.blogger.com/profile/16216225403522985684noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-31862915005339868772007-06-02T06:37:00.000-07:002007-06-02T06:37:00.000-07:00OILPATCHThe rising Canadian dollar has no redeemin...OILPATCH<BR/><BR/>The rising Canadian dollar has no redeeming features in the oil and gas industry, where prices track markets that use United States currency.<BR/>If you're receiving back shrunken (U.S.) dollars, of course it's hurting," said Gary Leach, executive director of the Small Explorers and Producers Association of Canada.<BR/>"It's painful," he said, adding that the exchange rate trend contributed to first-quarter financial losses posted by about half of Canada's publicly traded small to medium-sized energy firms.<BR/>About 60 per cent of Canadian oil and gas output is exported for sale in fading U.S. dollars.<BR/>Production sold in Canada is affected, too. Domestic oil and gas prices are conversions of U.S. dollar values on international markets into Canadian currency.<BR/>The industry estimates the increase in the loonie's value since last September works out to a loss of $2.75 a barrel off the Canadian price for refinery-ready oil.<BR/>Improved power to purchase foreign supplies and services, especially for large construction projects, partially offsets the oil and gas price erosion, said David Pryce of the Canadian Association of Petroleum Producers. The currency trend is also no disaster because the industry has become skilled at coping with international conditions beyond its control, he added.<BR/>But the rising loonie has tightened a squeeze on revenues and profits that inspired united industry protest at current hearings by the provincial royalty review panel, Leach said. The roving inquiry, which touches down in Fort McMurray next week, has been warned repeatedly there are no revenue windfalls to help increase provincial royalties without hurting investment and employment.<BR/><BR/>OILSANDS<BR/><BR/>The high Canadian dollar deepens negative effects of inflated costs, rising environmental standards, technical risks and uncertainty over government policy such as evolving curbs on greenhouse gas emissions, Chevron Canada president Mark Nelson told the provincial royalty review panel.<BR/>"Projects operated by companies with a U.S. parent must also contend with the strengthening of the Canadian dollar, which negatively impacts profitability," Nelson added in a written submission after addressing recent panel hearings in Edmonton.<BR/>"Three-fold increases in project input costs become four-fold when allowing for exchange losses," Nelson wrote. "It is our estimation that cumulative impacts of these changes will deteriorate, possibly materially, project viability and impact the level of oilsands investmentBrenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-60804652604388674842007-06-02T06:17:00.000-07:002007-06-02T06:17:00.000-07:00Oil prices redux — based on a .85 exchange rate a ...Oil prices redux — based on a .85 exchange rate a barrel of $64.00 light crude was worth about $75.00 CDN. This week the same barrel is worth $68.00. <BR/><BR/>When par is reached... well you do the genius math — the same barrel will be worth 64.00 CDN. <BR/><BR/>Something to consider before signing an over inflated offer to purchase.Nedhttps://www.blogger.com/profile/08274044901501046103noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-29174124899712741712007-06-02T00:45:00.000-07:002007-06-02T00:45:00.000-07:00From that U.K. article"Many are taking on second j...From that U.K. article<BR/><BR/>"Many are taking on second jobs to pay a mortgage which could be up to seven times' bigger than their salary."<BR/><BR/>With the average starter home in Edmonton at $400,000+ dollars, I would think a lot of the mortgages here are pushing 7 times the first time buyers salary as well. Labourers don't make a high hourly rate, they just work 12 hours a day.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-19280543845782685002007-06-02T00:21:00.000-07:002007-06-02T00:21:00.000-07:00Your right van, Edmonton is major labourville. I c...Your right van, Edmonton is major labourville. I contract in telecom and there's no work for me in Edmonton. It's all south of the border, I find myself staying down here now between contracts too as it's just so much cheaper to live.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-55409809786377557512007-06-01T22:03:00.000-07:002007-06-01T22:03:00.000-07:00Oh the fun fun fun - when I moved here last march ...Oh the fun fun fun - when I moved here last march I had a chance to buy one of those condos they were building just off of whyte ave. Scona gardens or something, I passed on it cuz it was 200K. Instead I rented an apartment on 100 ave overlooking the river valley with a balcony and I pay 970 for everything including parking. Still cheaper than that 200K mortgage + the 40K of down payment I would've had to do. I guess I could've made money on it by selling it, but investments come and investments go. <BR/><BR/>It's funny to see a small house in edmonton go for 400K.<BR/><BR/>I had a co-worker today and he said he saw a news report how they were comparing Edmonton to Toronto/Vancouver/and New York again. UNbelieveable. My work allows me to travel - NYC/Chicago/boston/etc. I just got back from Silicon Valley. U know what?!?! the houses at these places are more expensive, but the pay (for my job) is way higher (30-40%). I guess I should look at going to these places some time in the near future. One less skilled educated worker Edmonton will lose, but I never came from here originally anyways. <BR/><BR/>The only list of people here that they aren't short of are labourers. I've been trying to recruit some software developers for my team from across the country (east of here and from b.c.) and no takers. No one wants to come to Edmonton they say. The city isn't that great, but at least before the housing was affordable. Since that advantage is gone, why come here they ask me? I don't have an answer to them except my project's way cool:P.Anonymoushttps://www.blogger.com/profile/00055549088717236260noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-55665806748203206412007-06-01T21:56:00.000-07:002007-06-01T21:56:00.000-07:00I went to watch Pirates of the Caribbean today in ...I went to watch Pirates of the Caribbean today in Edmonton. There was a soctia bank ad...100% financing for houses. It doesn't happen here u say?Anonymoushttps://www.blogger.com/profile/00055549088717236260noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-58959772570599495132007-06-01T19:36:00.000-07:002007-06-01T19:36:00.000-07:00I know we are drifting away from the Saskatchewan ...I know we are drifting away from the Saskatchewan topic so will have to see what Gloria has in store as a follow up. <BR/><BR/>Too bad about the new serfdom. I pity the new marginal condo owners in Edmonton and Calgary who may be in similar circumstances.<BR/><BR/>One prediction that seems to be gaining momentum is a CDN$ at par with the U.S.$. Besides allowing the Oilers to rethink there fall lineup, it certainly impacts and discounts future oil prices. Perhaps Alberta speculators should be looking south to Montana for their next property conquests. <BR/><BR/>BTW - I’m keeping an eye on an MLS listing on Ada Blvd. where the asking price is 1.3 million for a 1956 two story. If it fetches anything close to that, it’s still a bull market after all.Nedhttps://www.blogger.com/profile/08274044901501046103noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-11828003452942167822007-06-01T17:58:00.000-07:002007-06-01T17:58:00.000-07:00Good article called Mortgage Slaves from the U.K.I...Good article called Mortgage Slaves from the U.K.<BR/><BR/>It's true though - how many people do you know stuck with a crushing mortgage, who can't go out, can't travel, work too many hours, and have become slaves to a home that is now losing value every day?<BR/><BR/><BR/>It's gotta suck when you've overpaid for something. It's gotta REALLY suck when you've overpaid for something, you can't get rid of it, and it's ruining your life.<BR/><BR/>Nation of mortgage slaves among Britain's young couples<BR/><BR/><BR/>Massive mortgages are turning a generation of young couples into wage slaves, it has been claimed.<BR/><BR/><BR/><BR/>A report warned that the spiralling price of housing means Britain is in danger of becoming the "grossly divided" society of have and have-nots not seen since Victorian times.<BR/><BR/><BR/><BR/>First-time buyers who manage to make it on to the property ladder and parents with young families are like "bonded labourers" tied to their jobs. <BR/><BR/><BR/>The bleak report by academics - called On The Treadmill - says "super-size" loans are pushing soaring numbers of parents to desert their children in order to work long hours.<BR/><BR/><BR/><BR/>Many are taking on second jobs to pay a mortgage which could be up to seven times' bigger than their salary.<BR/><BR/><BR/><BR/>For these young homeowners, the burden of mortgage debt will place great stress on those who have families. <BR/><BR/><BR/><BR/>"Both debt-harassed parents are forced to work increasingly long hours to meet the payments.<BR/><BR/><BR/><BR/>"Little time will be left for family life and little disposable income with which to enjoy it."Dalihttps://www.blogger.com/profile/04369213400076173427noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-40898639740765187832007-06-01T16:49:00.000-07:002007-06-01T16:49:00.000-07:00Any thoughts here on The Hat? Not housing market ...Any thoughts here on The Hat? Not housing market specifically, just the economic prospects for the town in general.Unitzhttps://www.blogger.com/profile/00764376545247361117noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-91998452367765956682007-06-01T16:31:00.000-07:002007-06-01T16:31:00.000-07:00I don't know how close is close, it's rural obviou...I don't know how close is close, it's rural obviously and outside Fort Saskatchewan and these supposed upgraders are supposedly to be built in/around Fort Saskatchewan. The real estate agent told them he was going to list it in Fort Mc Murray where these workers will supposedly be coming from. To be honest with you, my jaw dropped when they told me they have it listed for $700,000 and supposedly it's priced right. Ya right!Dalihttps://www.blogger.com/profile/04369213400076173427noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-34577084124284890342007-06-01T16:22:00.000-07:002007-06-01T16:22:00.000-07:00Why would anyone want to actually live in house be...Why would anyone want to actually live in house beside an upgrader/refinery - unless they worked there?<BR/><BR/>(which they wouldn't, because its not yet built)Anonymoushttps://www.blogger.com/profile/04525713042895358389noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-76430480995781735282007-06-01T16:09:00.000-07:002007-06-01T16:09:00.000-07:00My sister and brother inlaw are cashing in. There ...My sister and brother inlaw are cashing in. There selling their house on 40 acres outside Fort Saskatchewan close to the planned upgraders. They have had it listed for 2 weeks now and not one call!<BR/>Supposedly listed at the going price according to the real estate agent. So much for all that real estate agent pump of the buyers lining up at your door trying to out bid each other for your home and you walking away with above list price.Dalihttps://www.blogger.com/profile/04369213400076173427noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-84742017926485786692007-06-01T15:53:00.000-07:002007-06-01T15:53:00.000-07:00Anyone thinking of buying a house as an investment...Anyone thinking of buying a house as an investment ESPECIALLY NOW in Alberta must read this.<BR/><BR/>http://biz.yahoo.com/fool/070518/117951154741.html?.v=1&.pf=real-estateDalihttps://www.blogger.com/profile/04369213400076173427noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-872250282301006102007-06-01T14:16:00.000-07:002007-06-01T14:16:00.000-07:00Remember that oil is traded in futures and is pron...Remember that oil is traded in futures and is prone to speculative inflation like all assets (not based on supply and demand). Also, if one believes the US economy is headed for recession (and also perhaps the Chineses as a result), demand for oil will decline. Add into that Saudia Arabia getting tired of being the swing member of OPEC (the only one that actually adheres to production cuts) and supply may actually go up.<BR/><BR/>A lot of "ifs", but all possible. As I have posted here beofre, I used to work in the office for a large drilling contractor here in Alberta. In 97 the consensus was oil would never go down again...same as today...in 99 I was laid off...oil plummeted.<BR/><BR/>I just realized how bad my spelling truly is...sorry everyone.ronniehttps://www.blogger.com/profile/08647402568132078965noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-41062788629965851592007-06-01T11:06:00.000-07:002007-06-01T11:06:00.000-07:00squidly77:Do you think that the price of oil will ...squidly77:<BR/><BR/>Do you think that the price of oil will drop below $45/barrel? If so, why?Unitzhttps://www.blogger.com/profile/00764376545247361117noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-68585566416568757552007-06-01T09:12:00.000-07:002007-06-01T09:12:00.000-07:00substitute calgary for usa....tinyurl.com/2fphpxsubstitute calgary for usa<BR/><BR/>....tinyurl.com/2fphpxsquidly77https://www.blogger.com/profile/13337481129318070886noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-22135282397877442362007-06-01T08:54:00.000-07:002007-06-01T08:54:00.000-07:00people flocking to calgarytrouble in the middle ea...people flocking to calgary<BR/>trouble in the middle east<BR/>sky high oil prices<BR/>vacancy rates near zero<BR/>working 12 hours a day/7 days a week<BR/>it mirrors 1982 so much that its almost eary<BR/><BR/>oh i forgot..stupid me<BR/>its different this time<BR/>its different here<BR/><BR/>rightsquidly77https://www.blogger.com/profile/13337481129318070886noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-20344615629019959692007-06-01T08:42:00.000-07:002007-06-01T08:42:00.000-07:00yes liquidgold... oh yeah.....tinyurl.com/yu6fazhi...yes liquidgold... oh yeah<BR/><BR/>.....tinyurl.com/yu6faz<BR/><BR/>history repeats<BR/>history bites<BR/>history hurts<BR/>alwayssquidly77https://www.blogger.com/profile/13337481129318070886noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-3115610839133117752007-06-01T08:22:00.000-07:002007-06-01T08:22:00.000-07:00Thats one big difference between Calgary and Edmon...Thats one big difference between Calgary and Edmonton I see is downtown office development. There is a plans for a new tower downtown Edmonton but it will be 1/2 residential. Its reasonable to assume that this type of development is postive for real estate values. But consider the following:<BR/><BR/>How much of theis information is already priced in? I'd say MORE than enough.<BR/><BR/>Its reasonable that centrally located properties would benefit from this but that effect should diminish as you move away from the downtown core.BearClawhttps://www.blogger.com/profile/15714953167582532109noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-7018147453522064392007-06-01T07:40:00.000-07:002007-06-01T07:40:00.000-07:00Head offices head to Calgary in $5.5 billion devel...Head offices head to Calgary in $5.5 billion development boom<BR/><BR/>http://www.thestar.com/article/219542<BR/><BR/>big office boom->more jobs->higher salaries->higher home values<BR/><BR/>welcome to Calgary. Hope you enjoy your stay!Unitzhttps://www.blogger.com/profile/00764376545247361117noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-72390094241967827682007-05-31T21:30:00.000-07:002007-05-31T21:30:00.000-07:00Yes, it's equity locusts buying up property. I ju...Yes, it's equity locusts buying up property. I just got back from there last weekend (Saskatoon and Regina) and while there is some construction going on, it's still a very small and poor city. I wanted to see for myself whats going on in "Canada's newest boom towns". Here's what I found.<BR/><BR/>Some notes from my trip:<BR/><BR/>1. Roads are VERY good and have no potholes.<BR/><BR/>2. Traffic is light and everybody drives slow there.<BR/><BR/>3. People jaywalk like crazy all around you.<BR/><BR/>4. The homeless all have bicycles.<BR/><BR/>5. There are six (6) liquor stores in Regina and they are all on the edge of town. If you live downtown, there are no grocery stores or liquor stores. Gov't regulated liquor.<BR/><BR/>6. PST gets old quickly and drive up the price of stuff there.<BR/><BR/>7. Gas is more expensive.<BR/><BR/>8. Saskatoon has a very small downtown that's pretty nice, but turns into a dump as soon as you get out.<BR/><BR/>9. Saskatoon and Regina both have a lot of poor people (all riding bikes, of course). A lot of drugs and alcohol problems. It looks like a ghosttown in some places.<BR/><BR/>10. Every single house we drove by has an alarm system. Apparently, there is a lot of crime.<BR/><BR/>11. On the highways, people from saskatewan drive 5KM slower than the posted speed limit, while Albertans drive 10KM over.<BR/><BR/>12. There really is no culture to speak of.<BR/><BR/>It's not for me... too slow paced and too much poverty/crime.<BR/><BR/>You can find a three bedroom, two bath home for around $200,000 BUT the city's are 10 times smaller than Edmonton. I don't want to bash Saskatoon and Regina here, but cheaper housing does not always equal a better quality of living.<BR/><BR/>I always thought that Edmonton was a dump... but there are worse places to live.Grouchohttps://www.blogger.com/profile/01816202039120771527noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-54775246972865310292007-05-31T20:56:00.000-07:002007-05-31T20:56:00.000-07:00speculators are the only reasonspeculators are the only reasonsquidly77https://www.blogger.com/profile/13337481129318070886noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-83320006549085481502007-05-31T20:27:00.000-07:002007-05-31T20:27:00.000-07:00Here's a theory- the Guess Who are planning a come...Here's a theory- the Guess Who are planning a comeback and their hit single 'Running Back to Saskatoon' has screaming fans taking the words to heart!<BR/><BR/>Other than that, I can't imagine why prices are up there. It absolutely must be the locusts. Very disimilar to what's going on in Cowtown. Unless I'm mistaken we're not seeing any new 1 million square foot skyscapers on the drawing board. It's the economy that's driving prices farther west- speculators are a very small factor.Unitzhttps://www.blogger.com/profile/00764376545247361117noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-44003206028331239082007-05-31T20:05:00.000-07:002007-05-31T20:05:00.000-07:00buying a house in calgary or edmonton now is stupi...buying a house in calgary or edmonton now is stupid/dumb/mental/financial suicide<BR/>the pre-curser to serfdom<BR/>wheres realestatemoe/albertabull<BR/>theyve left the scene<BR/>your left with an entire lifetime of debt<BR/>a slave to your house<BR/>2x4,s and gyprock<BR/>nothing<BR/>its nothing <BR/>but junk<BR/><BR/>no money for nights out/kids upbringing/enjoyment<BR/>nope<BR/>none<BR/>dead broke<BR/>paying for that house<BR/><BR/>marriage problems/job relocation<BR/>now your underwater<BR/>now what<BR/>sell and take a loss<BR/><BR/>specuvestors are now screwed<BR/>they have to sell at a loss<BR/><BR/>the creb are cooking the stats<BR/>try selling your house now see what you get<BR/><BR/>in edmonton there are 3900 listings<BR/>calgary<BR/>mls says 6300<BR/>welist adds another 1500<BR/>private another 1000<BR/>8800 total <BR/>the largest inventory in calgarys history<BR/>its cooked<BR/>done<BR/><BR/>you just bought<BR/>you just lost a pile of moolahsquidly77https://www.blogger.com/profile/13337481129318070886noreply@blogger.com