- There are 14482 residential units under construction in Edmonton and another 12655 in Calgary as per latest CMHC reports for the two cities. Add about another8000 properties in inventory currently in both cities, and we are probably looking at close to 20,000 properties for Sale by the end of the year. Of course, if the Sales rise significantly, this won't be an issue. But if they don't.....
- Big Money still being envisioned for Oil Sands Projects. Petro Canada is spending close to a billion dollars on the engineering design phase in the next year or so to get better idea of the costs. At $45 oil, they'll get a measly 8 per cent internal rate of return. At $60 oil, they'll get 12 percent. Now we do know for sure that oil will never see $40 again, but will they even break even if it does?
- It's the hope, no belief of almost every speculator/investor in Alberta real estate that prices will only moderately correct before they rise again. May be they will. May be they won't.. Will they all start aggressively pricing their $300k renovated condos if the market doesn't turn around next month? We'll see.
- A potential property of interest to our flipper friends. It's going dirt cheap in Esterhazy, SK. May be it should be selling for at least $200k.
A Happy Canada Day to all of you!
