Lithium Technology - Boon for Alberta Economy

 

Lithium Technology - Boon for Alberta Economy

A Bright Spot for Alberta – Electric Vehicles (EV's) - Remarkable

It may sound incredible, but electric cars could soon be an economic driver for oil-rich Alberta. The increase in global sales for EV's has been astonishing. In 2010 there were about 17, 000 electric cars on the road but today it's estimated 7.2 million. Sales in 2019 swelled to 2.4 million. Tesla models accounted for most of the increase. General Motors announced it will go all electric by 2035.

Key Component of EV Batteries is Lithium- Plenty in Alberta

Lithium is a light, soft, silvery-white alkali metal. A key component of the batteries in EV's is lithium, the type found in Alberta, if you know where to look.  "There are a lot of opportunities for lithium in Alberta," said Roy Eccles, a senior consultant with Apex Geo-science in Edmonton.

Lithium Needs Oil – What Kind?

Like all alkali metals, lithium is highly reactive and flammable, and must be stored in mineral oil. Exploration of the oil and gas reservoirs has shown, that between 1,600 and 3,330 metres below the surface, the accompanying salt-water brine is enriched with lithium. The Leduc Formation, the source of Alberta's first big oil boom, is a rich lithium deposit. There are estimates of 10.6 million tons of lithium carbonate equivalent, in the province.

Oil and Gas Industry - Plus - Tackling Climate Change - A Dream?

It is possible. It is the future. Companies are hoping to capitalize on the growing demand for lithium batteries by finding an easier and greener way to extract the metal. Chris Doornbos, CEO of Calgary-based E3 Metals Corp, looks at Alberta’s vast depleted oil and gas reservoirs and sees only opportunity. His company is testing new technology that, if successful, would extract lithium from the brine in old wells with almost zero emissions. 

Opportunity Rich – Oil Industry Infrastructure and Skill Sets

"It's a big opportunity for the province because producing lithium is very similar to producing oil and gas," said Doornbos, a geologist who previously worked for Suncor Energy Inc. Everything that is oil in Alberta could be re-purposed to the lithium industry. Businesses are looking, not only at the infrastructure, but also looking at the people and their unique expertise and skill sets. Doornbos says, "At the end of the day, it's still putting Albertans back to work — it's nothing we don't know how to do or haven't done before."

For more information call Chris 403-680-4479

Losses - Disaster - Lower - Declining - Falling but Wait!

Losses - Disaster - Lower - Declining - Falling but Wait!

These words all sound like doom and gloom. This is an unprecedented time in Calgary's history, Covid-19, job losses, oil prices, fear, yes but what if you still want to sell your home or buy one? The housing market has, over the last few weeks, adjusted to the pandemic.

The Facts - Should You Buy Now?

According to the Calgary Real Estate Board, April sales hit 573 units, a decline of 63 % over last year. CREB® chief economist Ann-Marie Lurie, said, "The combined impact of COVID-19 and the situation in the energy sector is causing housing demand to fall." But she also stated, "Demand is also falling faster than supply. This is keeping the market in buyers' territory and weighing on prices."

Buyers have Power

A greater share of home/condo sales has occurred in the lower price ranges. A homebuyer household earning $99,000, which is the median Metro Calgary household before-tax income, could get a mortgage that would be enough to buy for example a small condo. Maybe a $475,000 house is now achievable. Many sellers are uncertain about the state of the economy and more nervous about selling their home, which gives buyers increased power they normally don't have.

When will it End? Who Knows?

When the news of the world turns negative, you may be tempted to stop. During a shattered market economy it seems like the world is ending when you are in the middle of it. Time and again, when terrible events occurred, the same thing always happened, they ended. Throughout history when people seem to think the situation is hopeless, we always pulled through. This time should not be different.

Two examples of market extreme, is the internet bubble of the late 1990s and the stock market crash of 2008. In those moments, we saw the same headlines of doom and gloom. The trends kept going in the downward direction—until, that is, they didn't.

After the storm you may be happy you invested in something stable like a home. 

Several Incentives Help Cushion the Blow

There are many risk factors with Covid-19. Risks are events that may or may not happen. People need to live someplace. Why pay rent? A home is something many first-time buyers can now be hopeful for. The Federal Government, the Bank of Canada and the country’s biggest commercial banks are pulling out all the stops to try and head off a serious recession.

The central bank has cut interest rates spurring mortgage rates lower.  Banking regulators have loosened bank capital requirements to free up C$300 billion of lending capacity. Robert Hogue, senior economist at RBC Royal Bank says, "In all likelihood, this will be a temporary hit with a rebound taking place later this year once the COVID-19 situation settles down."

The Facts - Should You Sell Now?

Given the current recession combined with the pandemic, sellers may want to push ahead and sell. Home prices may not regain the current low levels because a Coronavirus-induced recession may inflict long-term economic damage.

If you're selling a home during the pandemic, you can expect technology to play a big role.  

For details on restrictions and challenges see my blog on What I Am Doing - Virtual Touring. https://yourhomeinalberta.blogspot.com/2020/03/what-i-am-doing-during-covid-19-pandemic.html

Carry on and Keep Calm and…

If you have questions give me a call, Chris at 403-680-4479

2020 Vision - Clear Path for Alberta's Future

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

Should You Test Your Home for Radon? YES!

Should You Test Your Home for Radon? YES!

What is Radon?

It is a radioactive gas, formed by the breakdown of uranium, a natural radioactive material found in soil, rock and groundwater. It is colourless, odourless and tasteless. When radon is released from the ground into your home through the basement, it is diluted and low in concentration but some Alberta home have higher levels than recommended by the International Commission on Radiation Protection.

Radon is the Leading Cause of Lung Cancer in Non-Smokers in Canada!

The risk is high. Radon exposure is nearly everywhere in the northwest corner of the continent. The scale of radon exposure in the Canadian Prairies is the second highest on Earth. A recent University of Calgary study, reported that one in eight Albertan homes tested over safe levels of radon gas. Results may not be seen for years but the damage to your DNA is a real concern. Exposure is estimated to be the cause of 16% of lung cancers.

Indoors - Radon can be a Big Problem

When radon mixes with the air outside, it is not a problem: the air outside dilutes the amount of radon. But when radon seeps into a closed-in space like a house, it can be harmful. You and your family can breathe in high levels of radon without knowing it. Every house in Alberta has a yearly freeze-thaw action due to the water underground. This movement causes continuous erosion. If your house is older there could be extensive gaps, fissures and cracks and many other holes allowing the gas to seep in. Testing should be done every five years or after major renovations or changes to the HVAC system. Even if neighbouring homes test low for radon, yours could still have high levels.

How Do You Test for Radon?

If your house is newly built you have to wait until the concrete cures. This takes 18 months. Then a proper radon test takes a minimum of 90 days and should be done in the winter. According to the Canadian Lung Association, web site, you should put the test device on the lowest level of your house that you use regularly at least four hours a day. Make sure it won't get knocked over. Then you mail the test device to the company’s laboratory according to package instructions. The company will analyze the test device in their laboratory and mail or email you the results.

What do I do if I have high radon levels?

Health Canada radon guidelines say that no action is required if radon is below 200 Bq/m3. However, even low levels of radon can be harmful. It is better to try to lower your home's radon level as much as possible. You need to repair your home if your home’s radon level is between 200 and 600 Bq/m3 within in the next two years and if over 600 Bq/m3 then you should repair your home within one year. You may need to hire a contractor to figure out where the radon is coming in so that you can make repairs to block the radon.

Government Mandated - Remediation.

The government has mandated that every home built since November, 2015 should have a sub-slab depressurization rough-in installation site. This allows for an effective form of radon reduction with reduced costs. Your Real Estate agent can tell you if a home that you are interested in has a rough-in depressurization site, has been recently tested, see the copy of the recorded test result and tell you if the necessary remediation has been done to make the home safe. If there is work that needs to be done to reduce radon, the estimated cost is around $2,000 to $3,000 but much less if you have a sub-slab rough-in.

Are Our Calgary Schools Safe? – They are On-To-It

You may soon receive a notice that the CBE will be conducting tests for radon gas in a number of schools across our system. Thankfully they are being proactive about our children's safety.

Christopher Ashby
REAL ESTATE PROFESSIONALS
100, 5810 2 STREET S.W.
CALGARY, AB T2H 0H2
Mobile: 403-680-4479
Office: 403-253-5305
Fax: 403-775-5156
E-mail: chris@yourhomeinalberta.com

Website: http://www.YourHomeInAlberta.com

Curious about Condo Ownership? Read On

Curious about Condo Ownership? Read On

Wish You Owned a Condo? Good News for Buyers and Sellers

New governance regulations, for Condo ownership, were approved by cabinet recently. "About one out of every five Albertans lives in a condo and our government has their back," says Brian Malkinson, Minister of Service Alberta.

Rules Change – More Protection for Condo Owners' Investments

A condo is a substantial investment. The new rules can be found at https://www.alberta.ca/assets/documents/condominium-property-regulation.pdf

If you are considering buying a condo it is recommended that a professional read the bylaws and review the financials first.

Access to Condo Documents - New Changes! - What You Need to Know

In previous years gaining access to this information could be expensive! But now prices will be set. With new regulations it will now be easier to access condo documents and the new rules will clarify which documents must be provided to new owners and when they need to be provided. It will also stipulate what exactly needs to be included in them.

New Regulations Will Make Condo Life Better

Anand Sharma of the Canadian Condominium Institute (CCI) appeared on media channels recently to explain the many of the changes. "This is huge for condo owners," said Sharma, who is president of the North Alberta chapter of the CCI. "We’ve been waiting for this regulatory change for 18 years. It was a big piece of legislation." These new regulations will make it better for everyone in the industry.

Condominium Boards - More Important – More Transparent

There is good news for potential buyers. As a result of surveys, consultations and studies by condo owners (more than 5,000 across the province) in cities like Edmonton, Calgary, Lethbridge and Fort McMurray there are now new bylaws for condominium boards. These new rules come into effect in July of 2019. The Minister has also stated that, "Alberta condominium boards will have to be more transparent as a result of changes made to the province's Condominium Property Regulation."

Revamp of Voting Rules and Much More - This is Huge!

The new rules mean owners will get more notice to attend general meetings and see 'Agenda Topics' beforehand. Other changes include adjustments to make the rules fairer on how condo corporations can issue bylaw fines and how reserve funds are managed. Some changes related to insurance matters were also made.

Condo Fees – More Pressure on Condo Boards for Accountability

Condo boards will not be able to raise condo fees without justification. Sharma said, "They have a fiduciary responsibility."

He went on the explain that the new regulatory framework is going to put a lot more pressure on condo boards in terms of professionalizing the industry and professionalizing their action. For example the reserve fund studies will not be able to be penned by just anybody, as the updated regulations define the 'study-provider' qualifications.

Insurance and Deductibles - What You Need to Know

While it's not mandatory under the Condominium Property Act or Regulation to have insurance to cover insurance deductibles, a condo board can now enact a local bylaw. And effective Jan. 1, 2020, condo boards will be able to go after condo owners for outstanding insurance deductibles up to a maximum of $50,000. Sharma advises condo owners to look into an insurance plan. "Start preparing for that," Sharma said.

Any questions about the new condo regulations and what they mean for you? Please give me a call 403-680-4479.

Survey Says - Alberta Women Have More Sex

Survey Says - Alberta Women Have More Sex

The Rest of Canada Can Learn from Albertans

According to a survey, not only are women in Alberta more satisfied with their relationships but at least 66 percent of them say they have sex about once a week. The rest of Canada compares at 50 percent. Last year's survey results recently tabulated by Chatelaine Magazine show how women aged 35 were less concerned about money due to the last few years of a robust economy and therefore a subsequently reduced stress level.   

Prairie Provinces More Laid-back

Dr. Trina Read is a Calgary-based author, columnist and sex coach. She says that, “Those people who live in western provinces tend to be a lot more laid-back than people from the east. Without the heavy social pressures and responsibility, she surmises that there is more sex. “Responsibility and good sex just don’t mix.”

Matt Johnson, an assistant professor of family ecology at the University of Alberta says that, “Incomes in Alberta tend to be a bit higher than other provinces and having higher socioeconomic status is linked with having less stress. When couples experience less stress…then their relationships have a better chance of flourishing.” This could mean they have more time to devote to their relationship, and that quality time can spill into the bedroom.

Friendship Promotes Sexual Intimacy

A Calgary-based psychologist, Carolyn Clare, specializing in gender, relationships and sexuality says, “Seventy-one percent of Albertans said that companionship kept them in their relationships, and that was higher than the rest of Canada.” The research supports the idea that deep friendship is the foundation of intimacy and satisfying sex.

Sex is a Version of Adventure

Cheryl McMeeken is a Calgary-based sex and relationship therapist. She says that from her experience in Alberta, “There’s a big focus on making your life the best it can be or maximizing your pleasure.” Overall, the survey claimed that Albertan women yearned for more travel and adventure and sex is a version of adventure.

Ready for adventure? Do you want to live in Alberta too? Are you looking to buy a condo or a home? Give Chris a call #403-680-4479

 

 

Fort McMurray – Help is on the Way!

(photo courtesy of Cole Burston/AFP/Getty Images)

Fort McMurray – Help is on the Way!

We are deeply saddened by the loss and devastation forest fires have caused to the people of Fort McMurray. Our thoughts and prayers go out to them.

Many Organizations Helping

From Airbnb helping to coordinate free emergency homes for Fort McMurray evacuees, to Red Cross humanitarian efforts to Radio-thons many are trying to help the victims of this tragedy. Other organizations are offering housing to those who were forced to leave their homes, many of whom escaped the raging fires with just the clothes on their backs. Reports claim that Prime Minister Justin Trudeau is saying that 7,000 cots have been provided for Fort McMurray evacuees in emergency shelters, with 13,000 more coming soon.

How Can You Help?

Here are some ideas: When you text the word FIRES to 45678 you can donate $10 dollars or if you text the word REDCROSS to 30333 a $5 donation will be added to your wireless bill and if you text the word REDCROSS to 45678 a $10 donation will be added to your wireless bill.

Governments Matching Donations

To make your donation go twice as far, Prime Minister Justin Trudeau has announced that the federal government will be joining with Alberta to match individual donations made for Fort McMurray disaster relief. According to news reports by CBC the Canadian Red Cross has received more than $30 million in donations.

About Canadian Red Cross Donations

For more information about how to help and for a larger donation and general inquiries, visit their list of Frequently Asked Questions, contact WeCare@redcross.ca or call 1-800-418-1111. If you have been affected by the wildfires go directly to their website to register: http://www.redcross.ca/how-we-help/emergencies-and-disasters-in-canada/how-we-help-canadians/red-cross-services/northern-alberta-wildfires-registration