The Edmonton Real Estate market has been getting a lot of attention; especially since Real Estate prices rose over 50% last year. Everyone wonders if the market can continue and will the bubble burst.
There is no bubble in Alberta, this market is based on solid economic fundamentals which tend to be superlative to the rest of Canada:
Economy
* Alberta is Canada's Economic Tiger - this province's economic growth is rivalled only by developing countries like China and India
Alberta is a PROVINCE that can be COMPARED to CHINA! Amazing.
*Alberta has Canada's highest wages,disposable incomes, personal savings rates and new housing purchases
This means people have more money to spend and thus fuel the economy further.
Taxes
*Alberta has the lowest unemployment rate in Canada and the lowest taxes
This means people earn more and take home more of their earnings.
Resources
*Alberta has the world's largest proven oil reserves and is a major source of water and uranium
These resources are in high demand and their value will rise in the future.
Diverse Economy
*Alberta is more than oil, it's economy features
-information and communication technology
-nanotechnology
-processing of oil, gas,chemicals, agricultural crops and forest products
Even if oil prices fluctuate Alberta's economy will still be strong.
Stability
*Alberta is the only province in Canada with zero provincial debt
*Alberta is committed to free enterprise
*Provincial policies are designed to help Alberta businesses compete in the world market
The province is an economic model for a near perfect economic situation.
Workforce
*Alberta has the highest worker productivity in Canada
Many large companies are moving/have moved to Edmonton i.e 3M, Intel, Hewlett-Packard as well as many other Fortune 500 companies. This increases the need for labour and therefore housing.
It is the BEST place on the PLANET to invest. Sure the market may plateau, but the economic fundamentals point to a long, long growth trend.
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