Red Hot Housing Market for Calgary - 2017?

No! Small Growth Expected for Calgary

Unlike the Vancouver and Toronto Real Estate Markets, which have seen major price jumps for homes, Calgary is not expected to see this type of volatility. According the 2017 outlook from the Calgary Real Estate Board, house prices aren't expected to grow by a significant amount this year.

Rise Expected but Not Much

CREB's report stated that, "After falling by 3.2 per cent in 2016, prices for detached homes are projected to rise by 0.8 per cent by the end of 2017. Attached homes, meanwhile, fell by 4.1 per cent last year and projected to increase by 0.5 per cent.

Not a Buyers' Market in 2017

David Brown, CREB president said he doesn't expect buyers to have their pick of price-reduced properties across the board. "There are still some good deals in the market but you're probably not going to see dramatic prices drops as we maybe have seen in the previous years."

Balanced Conditions

Chief economist for CREB, Ann-Marie Lurie, said last year was "a buyers' market, for sure" in Calgary but that is expected to start shifting, particularly in the latter half of 2017. "What we're expecting is we're going to see it gradually shift into more balanced conditions."

Time to Buy into the Condo Market

While there is a modest price increase projected for homes, condo prices are projected to fall by another two per cent, according to CREB. "In the apartment-style condos, you may still see some deals available, but everything else is going to stabilize."

There is Risk and Uncertainty on the Horizon

CREB cautions that numerous risks may affect the housing market in 2017, notably oil prices maintaining an average $50.66 per barrel, mortgage decisions by the Bank of Canada and the uncertain impact on the Canadian economy with respect to the election of U.S. president Donald Trump.

Need some help sorting out the risks? Give Chris a call #403-680-4479

Trump – Trudeau They Mean Business!

Trump – Trudeau They Mean Business!

Historic Meeting is Good News for Alberta

Let's Be Clear - the trade between the countries is big. There is a flow of exports including 3 million barrels of oil daily to well over 35 USA states. The dollar figure is more than $2 billion in trade on a daily basis that crosses the world's longest undefended border. Many other countries are envious of this gateway to the biggest trading relationship on the planet.

Fears - "Buy American'' Protectionism – Major Threat

The fears are stayed for now. In a joint statement issued yesterday, the two leaders recognized "profound shared economic interests," and pledged to work tirelessly to boost growth and generate jobs in both countries.

Why Trump and Trudeau Both Smiling

The communiqué says the two countries will work to... move forward on the Keystone XL pipeline and commit to establishing pre-clearance operations for cargo crossing the border. "We intend to accelerate the completion of pre-clearance for additional cities and continue to expand this program," it reads. Trump also wants the North Dakota oil pipe line to move forward.

Round-Table Discussion - Emphasis on Support for Women Entrepreneurs

Of note, Trudeau's team "reached out" to propose a joint task force on advancing women in the workplace, a policy dear to the heart of Trump’s daughter Ivanka Trump.

Reading from his notes, Trump said, "[that] women are the primary source of income in 40% of American households," and he added that in order to create good economic growth, our economy should provide jobs and be a place where women can work and thrive.

Trudeau is No Stranger for Support for Women - 50-50 Even

"Because it's 2015," Trudeau made his Cabinet gender-balanced. Trudeau spoke freely about his pleasure at sitting around the table with a number of successful executives who just happen to be women. He emphasized the need to address the unique barriers that entrepreneurial women face, that they, have overcome significant challenges and will have greater insight into how to remove those barriers and be formidable contributors to the success of business and the economy.

A Sigh of Relief for Now

With interest rates still low and the economy picking up it may be time to get your house in order. Ready to buy or sell? Call Chris 403-6804479

http://www.liveinokotoks.com/
email chris@yourhomeinalberta.com

Oil Prices with Trump a Win!

Oil Prices Low but Trump Could be the Boost Alberta Needs

Most markets are back to normal after the shock of a Donald Trump win in the US election this week. Although losses and have bounced back, oil still faces pressure due to OPEC's cut in production (see OPEC in the News Again 10/06/16) But Trump is here!

Two Priorities for Trump – Do They Help Canada?

Yes! Alberta oil sands will benefit from trump being president. His goals are to prioritise tax cuts and cut deregulation. It was repeatedly mentioned during Trump's election campaign. He made no apologies for being fossil-fuel friendly and his top adviser on energy, Harold Hamm, expects him to roll back the Obama administration's heavy regulations on the oil and gas industry.

Clean Power Plan Scrapped – Oil Economy Bound to Rebound

Hamm recently told the Financial Times that he believes Mr. Trump will follow the two guiding principles of tax cuts and deregulation as ways to stimulate economic growth. He has also made assurances to reduce dependence on Middle East oil and he has said that he is in favour of the Keystone XL pipeline from Alberta to refineries in the U.S. gulf. That will help the Alberta economy immensely.

Oil Market is Still a Place to Invest

Tom Pickering, founder and chief investment officer of trading the firm Auspice Capital has said that a Donald Trump presidency could mean the return of a risk premium for oil prices.

A risk premium is the return in excess of the risk-free rate of return an investment is expected to yield; an asset's risk premium is a form of compensation for investors who tolerate the extra risk.

Is it all Talk - What Should Canada Do?

What are Trump's real plans? What we know for now, just days after the election is that things are looking up for the oil sands business. According to the Financial Post, TransCanada Corp is still fully committed to Keystone XL. It plans to engage with President Elect Donald Trump and his new administration in the near future.

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