AB Economic Fundamentals 2008-08

[joeiannuzzi]

Stampede City remains a home-buyer`s market

Economic and housing experts have been predicting for almost a year the Calgary housing market was on its way to returning to normal or balanced conditions.

Between late 2005 and mid 2007, the market went from fairly balanced to heavily in favour of sellers, then tilted almost overnight heavily in favour of buyers.

It still is a buyers` market --whether you`re shopping the MLS or negotiating with a new home builder to throw in the granite countertops in the kitchen as a bonus -- there are deals to be had. The question is, are we still `returning` to normal/balanced, or have we arrived?

http://calsun.canoe.ca/Business/2008/08/22/6536291-sun.html

 

[Thomas Beyer]

less is better !

weekly or bi-weekly HIGHLIGHTS as opposed to daily stuff !

 

[joeiannuzzi]

QUOTE (thomasbeyer2000 @ Aug 22 2008, 07:00 PM) less is better !

weekly or bi-weekly HIGHLIGHTS as opposed to daily stuff !
Hi Thomas. Thank you for your feedback.

Don has mentioned several times that he would like to see REIN members go online and spend a few minutes a day to review what is occurring in their region. This is besides the ENORMOUS response that the REIN office and I have received over the past 6 months stating they wish to see daily economic updates.

I spoke to Don about it and here was his response "Thomas, read it only on Fridays"

 

[joeiannuzzi]

Weak housing market spurs layoffs

CALGARY -- A slumping housing market has caused one of the province`s largest home builders to cut dozens of jobs.

Jayman Masterbuilt has laid off 50 employees - 20 in Edmonton and another 30 in Calgary - in construction and office jobs, said president and CEO Jay Westman.

Edmonton`s housing starts have taken a huge stumble with the worst July for starts since 1986, according to the Canada Mortgage and Housing Corp. Just 199 single family basements were poured this July compared to 682 in July 2007, while multiple units starts dropped by 63%. Calgary is faring just as bad. Westman said Calgary this year will see the sharpest drop in single detached construction since 1984.

http://www.edmontonsun.com/News/Alberta/20...548181-sun.html

 

[joeiannuzzi]

Home smoke alarms checked

EDMONTON - People living in older neighborhoods can expect a free safety checkup from volunteers with the city`s smoke-detector program.

Over the next six weeks, firefighters plan to visit more than 1,600 homes, including those in the Beverly, Jasper Place and Ritchie areas, to ensure working smoke detectors are installed.

Assistant Fire Marshall Tim Vandenbrink says many of the homes in these older neighbourhoods were built before detectors became a requirement in the late 1970s.

http://www.canada.com/edmontonjournal/news...e7-46300e466823

 

[joeiannuzzi]

Mayfair Hotel site targeted for rejuvenation

EDMONTON - George Schluessel is working on an idea for the old Mayfair Hotel building that, if it goes ahead, would rejuvenate a dowdy stretch of Jasper Avenue and boost a scant supply of "attainable" housing for working-class renters.

But the CEO of Procura speaks reluctantly about the proposal to build a 458-unit, 15-floor apartment and commercial building on the site of the boarded-up landmark and adjacent parking lot at Jasper Avenue between 108th and 109th Streets. Arndt Tkalcic Architecture, acting for Procura, has applied for a City of Edmonton major development permit for the site.

"We`re still trying to work through the feasibility of it," Schluessel said Friday.

http://www.canada.com/edmontonjournal/news...27-89ac8886213c

 

[joeiannuzzi]

Buffett looks but won`t buy

CALGARY - Warren Buffett is not eyeing an investment in Canada`s oilsands, but the billionaire investor known as the Oracle of Omaha said he socked away information while touring a pair of oilsands projects with pal Bill Gates that may come in handy at a later date.

Buffett, the world`s richest person, conducted an interview with CNBC`s Squawk Box television show Friday morning, making his first public comments since he and Gates rubbed elbows north of oilsands hub Fort McMurray on Monday with executives of Canadian Natural Resources Ltd. and leaders from the Canadian Association of Petroleum Producers.

http://www.canada.com/edmontonjournal/news...36-be3a003b47ca

 

[joeiannuzzi]

Demand booming for trained workers

Like many young men his age, 18-year-old welder Aaron Dendys wants to complete his post-secondary education, save some money and eventually head out on his own.

Dendys began working in his trade at a young age. After learning the ropes from his father, he heard about a job opportunity with Calgary-based EnCana through his cousin Christine Capot-Blanc, a gas compression operator at one of the company`s plants.

"Now that I`m working out here, I see a pretty bright future with lots of opportunities and benefits," says Dendys. "I`m looking forward to starting a life out on my own now that I`m done high school."

http://www.canada.com/edmontonjournal/news...65-cd710c415507

 

[joeiannuzzi]

Costs block condo project

Construction of a multimillion-dollar downtown condominium development has ground to a halt as escalating costs have made the two-tower project financially unfeasible.

Meanwhile, Calgary`s condominium boom and the record number of units under construction will be a faint echo in about five years from now as many developers are scaling back their land purchases. Resiance Corporation revealed yesterday it won`t proceed with Gateway Midtown, a 650-unit condominium project at 10 Ave. and 4 St. S.W., because "insurmountable construction costs have made the project financially unfeasible."

http://calsun.canoe.ca/News/Alberta/2008/0...549041-sun.html

 

[joeiannuzzi]

Edmonton starts cut in half

Three times more homes were started in Edmonton last month compared to the year earlier, leading to a drop of year-to-date housing starts of close to 50 per cent, according to the Canada Mortgage and Housing Corporation`s Edmonton branch.

"Last month`s activity represented the worst July performance since 1986 when only 195 basements were poured," says Richard Goatcher , senior market analyst for CMHC. "If the current pace of activity continues to year-end, 2008 will represent the worst year for the region`s single-detached builders since the previous low recorded in 1995."

http://www.canada.com/calgaryherald/news/n...bf-96bd84412ab3

 

[joeiannuzzi]

How about weekends in the country?

I`ve completed my annual pilgrimage to Buffalo Lake for a relaxing weekend watching grandchildren show off their water skiing talents and have to admit that time away from the big city can indeed be quite refreshing. Rushing off every weekend to a country cottage, cabin or condo has never seemed to me an ideal way to spend precious free time. Especially when hours have to be taken cutting lawns and supervising the honey wagon visit.

Maybe relaxation was so welcome as a result of an hour amidst speeding traffic on the Queen Elizabeth II followed by another hour rolling over undulating highway headed east towards Big Valley. There is that magnificent drop and climb across the Red Deer River but on a hot day it was quite a relief to be welcomed with a cold Big Rock at Rochon Sands.

http://www.canada.com/calgaryherald/news/l...23-60c0bbe16fc7

 

[joeiannuzzi]

On the Growth Highway

In the real estate industry, there is a popular adage about "location, location, location."

The same holds true for the town of Strathmore, located along the busy Trans-Canada Highway about 40 kilometres east of Calgary.

The town has benefited economically over the past few years from the tremendous amount of traffic passing through the roadway each day, and its proximity to the big city.

That`s led to more businesses moving into the town as well as more people taking advantage of living in a smaller community with more affordable house prices.

http://www.canada.com/calgaryherald/news/c...03-d57618ff247d

 

[joeiannuzzi]

Fuse to region`s boom officially lit

Plans that will see business in Boyle and the County of Athabasca explode over the coming years have been set into motion, with the announcement of the first of many grants for Boyle and the County of Athabasca`s energy corridor.

At the last Village of Boyle council meeting, it was announced that Boyle had been approved for more than $220,000 of provincial funding.

The money will go towards a joint project between the county and the village, known as the energy corridor, which opens doors and cuts red tape for businesses along Highway 63.

According to Boyle CAO Ken Gwozdz, the plan will pave the way for big businesses to come straight into the 75 km stretch along Highway 63 from Boyle to Wandering River.

http://www.athabascaadvocate.com/news/2008/0819/news1.htm

 

[joeiannuzzi]

Data centre opens

St. Albert - Alexander First Nation launched a new Internet data centre on the reserve last week, calling it the most technologically advanced anywhere in Western Canada.

Following a blessing from a local elder and drum ceremony, the centre was officially opened on Aug. 13, 14 months after the centre first began operation.

Chief Raymond Arcand, who will step down after band elections this fall, called it a remarkable achievement.

"Alexander is very proud of what we have accomplished and how we accomplished it," he said "We have a state of the art building."

http://www.stalbertgazette.com/news/2008/0820/top2.htm

 

[joeiannuzzi]

Lifting population cap could have financial impact

With the future of Okotoks` population cap coming into doubt, the financial implications of whether or not it remains in place are a hot topic for debate.
If the population cap of 30,000 is retained, Okotoks financial services manager Allen Jenkins said the Town is well prepared for its financial future. If it is lifted, he said it would have a significant impact on the Town`s existing long-term finances.
"Any change to the cap, removal or modification may have a major impact on the plan," he said.

http://www.westernwheel.com/news-lifting.htm

 

[joeiannuzzi]

Moving to Gasoline Alley

His partially completed building is surrounded by muddy fields now.

But Dean Stutheit envisions a day when his Laura Avenue location will be in the heart of a busy commercial district, with employees able to walk to work from a nearby residential subdivision.

Stutheit is president of Access Land, a land agent firm that contracts its services to energy companies.

Currently operating at 6720 71st St. in Red Deer, Access Land is preparing to move into Gasoline Alley Business Park.

Its new two-storey, 15,000-square-foot office building should be ready by January.

http://www.albertalocalnews.com/reddeeradv...line_Alley.html

 

[joeiannuzzi]

Westview Business Centre example of recycled building

Westview Business Centre doesn`t look like a 40-year-old building — and much of it isn`t.

But the steel skeleton of the seemingly brand new structure at 4315 55th Ave. is decades old. It was salvaged by the property`s owners, CAPP Investments Ltd., when they embarked on a major renovation project.

Those renovations involved stripping the building, which previously housed Western Collision Repairs, down to its superstructure. A second storey was added, an elevator installed, the interior redone and a new facade applied.

http://www.albertalocalnews.com/reddeeradv...d_building.html

 

[Thomas Beyer]

QUOTE (joeiannuzzi @ Aug 23 2008, 06:44 AM) Hi Thomas. Thank you for your feedback.

Don has mentioned several times that he would like to see REIN members go online and spend a few minutes a day to review what is occurring in their region. This is besides the ENORMOUS response that the REIN office and I have received over the past 6 months stating they wish to see daily economic updates.

I spoke to Don about it and here was his response "Thomas, read it only on Fridays"
noted .. but give me LESS to read for 4 provinces: ON, SK, BC, AB .. I cannot read all this stuff .. much of it not so useful !

I repeat: less is more !

Or: sub-divide your stuff into sub-categories .. say AB-South, AB-North, AB-central .. or BC-Vancouver Island, BC-Lower Mainland, BC-Rest

 

[joeiannuzzi]

QUOTE (thomasbeyer2000 @ Aug 24 2008, 10:29 AM) noted .. but give me LESS to read for 4 provinces: ON, SK, BC, AB .. I cannot read all this stuff .. much of it not so useful !

I repeat: less is more !

Or: sub-divide your stuff into sub-categories .. say AB-South, AB-North, AB-central .. or BC-Vancouver Island, BC-Lower Mainland, BC-Rest


That makes sense. I am going to start systematizing this further for the end user but it will take some time to create this process. In the meantime, everyone`s patience is greatly appreciated!!

Thanks again.

 

[joeiannuzzi]

U of A residences get extreme makeovers

EDMONTON - For the last four months, most students at the University of Alberta have been working, taking holidays or finding other ways to stay away from campus.

A few, however, spent the summer at school with brooms, brushes, and a bold vision -- to give aging community centres at the university`s HUB and East Campus Village residences extreme makeovers.

When students in these areas return to classes next week, they`ll find freshly painted walls, new furniture and clean refrigerators.

http://www.canada.com/edmontonjournal/news...28-0900573fde4e