2020 Vision - Clear Path for Alberta's Future

Real Estate

2020 Vision - Clear Path for Alberta's Future

Victory for Trans Mountain

The recent Supreme Court decision removes the remaining obstacle for the Trans Mountain pipeline project to go ahead. The court upheld Ottawa's authority under the Constitution to decide on oil crossing over provinces such as between Edmonton to Burnaby, B. C.

Oil Prices - Up – Prospects - Up

Natural Resources Minister, Seamus O'Regan welcomed the ruling, saying that it is a core responsibility of the federal government to help get resources to market and support good, middle-class jobs. Other major oil pipeline developments, Keystone XL and Enbridge's Line 3 are also gaining traction just in time for oil prices, due to years of curtailment about to gain ground.

Jobs - Sunny Outlook Blowing Our Way

There is good news on the horizon for the Solar/Wind Industry job market and could explain the recent lower unemployment rate. Many mega projects, like the $200-million Danish-Canadian, TC Energy Corp. and the $500-million project in Vulcan County, Strathmore Solar Farm and others have received approval, started construction or applying for expansion.

Berkshire Hathaway, a subsidiary of Warren Buffett's US company, is breaking ground on solar and wind farms. Buffett announced that he is pursuing partnerships with solar, wind and other technology companies in Alberta.

Confidence in the Economy - Impressive

"Alberta is proud to be home to so many great innovators and entrepreneurs," said Jason Kenney. "This exciting new energy project will add to Alberta’s impressive renewable energy network, and is a vote of confidence in our economy." Also on the horizon is the 'Beyond Meat' market. Spin-off jobs are possible with the building of a huge pea-protein processing plant in western Canada. The pea-protein craze has led to Manitoba constructing its second 20,000-ton facility and this still won't meet the demand that is expected to grow for these products.

Stable Market - Sales Slow but Steady

According to predictions for 2020 by Calgary's Real Estate Board, and several real estate firms, sales are forecast to remain slow and steady. This means a return to a stable and balanced market. The job market is growing. The 'Millennials' and first-time home buyers have now had time to save for a larger down payment in order to pass the mortgage stress test. At the same time 'Baby Boomers' and 'Empty Nesters' seem to be opting towards renovations and refinancing versus selling to down-size. This may mean supply will remain low as the demand increases which could push prices up. For more on this visit CREB.com and click on media releases.

For more information give Chris a call #403-680-4479