This And That

Real estate boom swells ranks of the house-poor - "I think what we're finding is people are over-mortgaged with very little room for an increase in the interest," Rob Warren, a University of Manitoba business professor

BUT

"It's good debt. It's secured, you've got an asset and it's growing," said Ruth Berry, a family social sciences professor at the University of Manitoba.


Rising Inflation In Edmonton- "What you've got is an influx of people coming into Edmonton. In the short run, there will be a shortage of housing, which will drive up prices.

In the long run, you would think more land would be developed and more houses would come on the market. It won't skyrocket forever." Karim Jamal business professor University of Alberta

When you are talking about the short run in the Edmonton real estate market we think in terms of 5 to 7 years. The oil sands have 200 years worth of oil in them but it doesn't take that long to make a profit in this market.

Dodge warns of inflated housing market-"One worries about the structure of the mortgage market, that we may be actually aiding, facilitating a rise in the price of houses that is really not warranted.."

Mr. Dodge warned that housing prices outside of the fast-growing cities of Western Canada may be rising too quickly.

Housing prices in Vancouver, Edmonton, Calgary and Regina have soared, but that growth is to be expected from an expanding economy and population. More troubling is the picture elsewhere." Bank of Canada Governor David Dodge