AB Economic Fundamentals 2008-12

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1208EDTN
Not immune

Mayor Stephen Mandel warns the worldwide economic crunch will continue to hammer Edmonton in the new year.

"You know, people seem to think because we`re in Alberta and we have oil that we`re going to be immune to the problems," Mandel told Sun Media in a wide-ranging year-end interview.

http://www.edmontonsun.com/News/Edmonton/2...800631-sun.html

 

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1208EDTN
Bucking the retail trend

At a time when newspapers are full of flyers advertising Christmas-season discounts and sale prices, Edmonton retailers say local shopping is bucking national trends caused by the current economic downturn.

Pat Bancarz, manager of Londonderry Mall and vice-president of shopping centres for Vancouver-based Peterson Group, says the number of shoppers at her centre this month has increased by 9% over December of last year.

http://www.edmontonsun.com/Business/News/2...800511-sun.html

 

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1208ALTA
We`re still big spenders

Albertans on average intend to spend about $90 less this Christmas compared to last, but we`re still among the country`s biggest holiday spenders, according to a new survey. Scotiabank`s 2008 Holiday Spending Study released yesterday reveals Albertans on average intend to fork out $853 on Christmas spending, down from $946 last year.

http://calsun.canoe.ca/News/Alberta/2008/1...802046-sun.html

 

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1208CALG
Cecil should make way for housing

Early next year, the City of Calgary will take possession of the Cecil Hotel, although no one at city hall seems to know what to do with it.

There have been suggestions it`s a great spot for a new police headquarters building, but I`m not sure the street access is adequate for as many police vehicles as that involves. Ald. Druh Farrell has a vision of turning it into a retail centre, no doubt a very trendy building in her vision, but also not a good idea.

http://calsun.canoe.ca/Business/2008/12/19/7801966-sun.html

 

[GlennLasiuta]

1208REDR
Red Deer homes still a buy

12/17/08
BY JOHNNIE BACHUSKY
Red Deer Express

Red Deer’s real estate industry is successfully navigating through the world’s current economic crisis but constant negativity in the media is making consumers cautious, say local industry officials.

“I think the reason (home sales) dropped off in November and December is strictly because of the media,” said Norm Jensen, long-time realtor and co-owner of Royal LePAGE Network Realty Corp.


READ FULL STORY

 

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1208ALTA
Spending, not cuts, premier`s strategy

Alberta is prepared to spend its way out of the economic downturn next year, with no major cuts planned for health care, education or capital projects.

"I know it sends real vibrations across Canada for Alberta to be looking at a technical deficit, but the issue here is, I just don`t want to lose momentum," Premier Ed Stelmach said Friday in a year-end interview with The Journal.

http://www.canada.com/edmontonjournal/news...57-c6e3a992098e

 

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1208ALTA
Alberta municipalities get $176M to `get shovels in the ground`

Alberta`s small towns and cities will have access to $176 million to build up local infrastructure.

The cash -- half federal, half provincial -- is aimed at paying for water, waste, culture, sports, road or green energy projects.

Federal Labour Minister Rona Ambrose, MP for Edmonton-Spruce Grove, said the new funding allows smaller municipalities to avoid competing with big cities for cash.

http://www.canada.com/edmontonjournal/news...6f-fa7e67450cde

 

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1208ALTA
Population growth in Alberta chases jobs

Alberta led Western Canada in population growth in the past three months, Statistics Canada reported Friday.

The nation`s population hit 33,441,300, up 129,900 since July.

New Canadians and people who moved to Alberta from other provinces numbered 25,640 in the third quarter of 2008, likely due to the continuing job opportunities offered in the province, Statistics Canada said.

http://www.canada.com/edmontonjournal/news...c9-dda432e32cc3

 

[joeiannuzzi]

1208ALTA
Alberta`s economic `engine` running out of steam

The Alberta economy has avoided recession but has lost most of its steam, RBC said Friday.

"While our new forecast for the provincial economy still reflects some degree of vigour, it does show a fair amount of steam seeping out of Alberta`s engine," a report by RBC Economics said.

The bank downgraded its growth forecast for the energy-rich province`s real gross domestic product forecast to 1.5 per cent for 2008 down from the previously forecast 2.2 per cent.

http://www.canada.com/edmontonjournal/news...e5-00cbc150d3b3

 

[joeiannuzzi]

1208EDTN
EPCOR at the core

EPCOR announced yesterday the completion of a project to increase the supply of power to Edmonton`s downtown core.

The Edmonton-based power company said it spent a year and a half, starting in March 2007, installing a 240-kilovolt underground transmission cable from the Castle Downs substation, at 16253 97 St., to the Victoria substation at 10520 104 St.

Company spokesman Tim le Riche said the project was part of the company`s ongoing measures to accommodate Edmonton`s high growth rate, especially at the city core. "It`s an important upgrade for power service to downtown Edmonton."

http://www.edmontonsun.com/Business/News/2...813386-sun.html

 

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1208CALG
Stars `lining up` for regional transit network

Rebuilding Canada: Can Our Crumbling Cities Save The Economy?

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Each morning, Mike Rogers catches a bus at a stop four doors from his house.


The Okotoks resident takes his seat at the back--often dozing for a catnap--until he is dropped off an hour later in downtown Calgary.

"I pay a pretty huge premium," he says of the $240-a-month fee, "but it`s worth it."

The daily service, operated by local charter bus companies, is offered in several communities surrounding Calgary, including Okotoks, Cochrane, Chestermere and Airdrie.

http://www.canada.com/calgaryherald/news/s...db-0c2761e551f8

 

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1208ALTA
Alberta projects get$1B boost

A day after announcing it would sink deep into the red, the Harper government waved around a lot of green Friday in Conservative Alberta.

On the heels of declaring it would run deficits totalling tens of billions of dollars over the next few years, Ottawa announced about $1 billion worth of previously committed infrastructure funding for projects in Wild Rose Country.

http://www.canada.com/calgaryherald/news/s...6c-02ea45a70568

 

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1208CALG
Bow breaks but won`t stall

W ith plenty of eye candy out there for economic doomsday watchers -- oil and housing price plunges, "recession" and "deficit" warnings -- an eerie quiet at Calgary`s largest downtown construction site could signal even more trouble on the horizon.

Construction workers at The Bow, however, are simply starting a two-week break for the holidays, as one of the project`s developers stressed repeatedly Friday.

http://www.canada.com/calgaryherald/news/c...dd-7f6f84fa3482

 

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1208CALG
Construction in November weakest for month since 1991

Jay Westman knows there are homebuyers out there--he`s seen and talked to them. As part of getting a better understanding

of what buyers are thinking and looking for, the president and CEO of Jayman MasterBuilt has been attending sales meetings in Calgary and Edmonton to get feedback from company representatives about the attitudes of consumers.

http://www.canada.com/calgaryherald/news/n...d9-08fb5ef06462

 

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1208CALG
Rental market feels economic pinch

Headlines continue to inform us rather harshly that housing sales are down. According to Canadian Real Estate Association figures, Alberta experienced a year-over-year decline in MLS sales of almost 35 per cent, while prices dropped by 4.2 per cent to $338,354. And new construction is also drastically down.

That means a big increase in the number of people renting accommodation.

Bob Dhillon, president and CEO of Calgary-based Mainstreet Equities has a good handle on the rental market--his company owns more than 5,600 units across Canada; 1,300 of those in Calgary and 1,800 in Edmonton.

http://www.canada.com/calgaryherald/news/l...5d-998389a8f1a7

 

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1208ALTA
Alberta inflation takes breather at 2.1 per cent

A break in gasoline prices and a few deals at the mall drove inflation down in Alberta again in November, with consumer prices inching up 2.1 per cent from a year ago.

While deals were sure to be had at the gas pump, where prices were down 12.4 per cent, consumers did have to dig a lot deeper for necessities such as fresh fruits and vegetables, natural gas and shelter costs.

http://www.canada.com/calgaryherald/news/c...74-c6abd84f5450

 

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1208EDTN
Parkland bylaw may sour oilpatch development

Parkland County is taking on oil companies and the government`s oilpatch regulator with a new bylaw that could dramatically affect sour oil and gas development in populated areas of the province.

The county, which stretches to Edmonton`s western city limit, passed a bylaw earlier this month authorizing its top bureaucrat to stop potentially deadly wells from being drilled near rural communities and what it calls target hazard areas, such as fire and police stations, schools and emergency shelters.

http://www.canada.com/edmontonjournal/news...16-7e7059b480da

 

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1208ALTA
Highway 1 twinning gets cash boost

Construction is ready to begin on twinning a notorious stretch of the Trans-Canada Highway in Banff National Park.

Federal Environment Minister Jim Prentice, regional minister for Alberta, announced the kickoff Saturday to the $100-million project, to complete twinning between Castle Junction and Lake Louise.

"Those of us who live in southern Alberta are well aware of the dangers of this stretch of the Trans-Canada Highway and the terrible accident history we have here," said Prentice in an interview.

http://www.canada.com/calgaryherald/news/s...2d-4e0473ff3fe6

 

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AB Small Town Updates: 2008-12-21

 

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1208CALG
Sales drop spurs realtors` exodus

They`ll tell you it`s a great time to buy. Or the perfect time to sell.

But if the Calgary housing market continues its dip in 2009, some real estate agents predict many colleagues could decide it`s an excellent time to leave the business.

Residential sales on the Multiple Listing Service (MLS) have dropped 27 per cent this year over last, capped by the quietest November this decade, the Calgary Real Estate Board reported earlier this month.

http://www.canada.com/edmontonjournal/news...37-e156f771bcb8