Report calls for a revamp of Calgary's 'broken' housing system
Despite `concerted efforts` over the past two decades, there has been `no change` in Calgary`s affordable housing situation and city ought to completely revamp its approach to the problem, according to a new report.
`Our housing system in Calgary in broken ` I will put it as simply and bluntly as that,` Coun. Brian Pincott said Sunday after reading the report, due up at the city`s priorities and finance committee this week.
Hot Calgary housing market sets all-time price records
February may have been a frigid month outside but it was smoking hot for Calgary`s resale housing market.
The month established all-time highs for MLS sale prices as well as luxury home sales as nearly one in five transactions turned into bidding wars in the marketplace due to a continued low inventory of available properties.
Despite growing oil revenues that will help the Alberta government spend more on health care, education and social programs this year, the province will continue to borrow billions to finance projects.
Alberta is turning the corner, said Finance Minister Doug Horner, announcing a $1-billion increase in spending after holding the line last year.
Alberta job numbers are up compared to this time last year but one economist in the province says that could be a sign of an overheating economy.
According to the latest numbers from Statistics Canada, Alberta added 82,000 jobs since this time last year. While that's good news for people with well paying jobs in the oil patch and construction industries, it could also be an early indicator of a possible labour crunch.
When it comes to jobs, Alberta is in a class of its own
Canada is a nation of two labour markets: Alberta, and everywhere else.
Nine in 10 net new jobs in the past year have been created in Alberta alone, or 82,300 out of the total 94,700 across all the provinces. Alberta has tallied year-over-year employment growth of 3.8 per cent, more than seven times the pace of the national average.
TORONTO, March 12, 2014 /CNW/ - For the first time, St. Albert, Alta., has earned the top spot on MoneySense's annual Best Places to Live in Canada, a ranking based on hard data such as employment, housing prices, crime, weather and household income.
After holding steady as the No. 2 overall city last year, St. Albert moves up one spot to take the crown. So exactly how does a small city with 64,000 people on the fringe of Edmonton beat out every other city in Canada? Take your pick. Unemployment sits at just above four per cent, incomes are among the highest in the country, crime rates are steadily falling, and while its winters can be skin-splittingly cold, it's sunny all year round.
CALGARY - Alberta`s job vacancy rate is the highest in the country, tied with Saskatchewan, according to a report by the Canadian Federation of Independent Business.
The CFIB`s report, released Wednesday, said Alberta`s vacancy rate in the fourth quarter of 2013 was 3.7 per cent which translated into about 59,000 jobs. It was up 0.1 per cent from the previous quarter.
Condo projects on the rise in the shadow of Edmonton's new arena
EDMONTON - Add Toronto`s `condo king` to the growing list of developers who plan to build spiffy new highrise projects in downtown Edmonton.
Brad Lamb, CEO of Toronto`s Lamb Development Corp. and renowned as one of the top realtors in Canada`s biggest city, already has about $1 billion worth of high-end condo projects in the pipeline in Toronto, Ottawa and Calgary.
Calgary house price growth outpacing the rest of Canada
CALGARY - Calgary`s housing market continues to shine compared with the rest of the country as local residental real estate prices showed the highest growth rate in Canada in February, according to a report released Wednesday on repeat home sales.
Calgary prices rose by 9.6 per cent year-over-year and by 1.1 per cent month-over-month - both the best in the country and to an all-time high for the city, said the Teranet-National Bank National Composite House Price Index.
Alberta`s housing market, led by Calgary, is poised for a boom, Bank of Montreal economist Robert Kavcic says in a report to be released Friday afternoon.
The province`s housing market is quickly heating up again, fuelled by a stronger economy. Barring a sudden drop in oil markets, home prices and construction in Alberta will continue to climb in the year ahead, he says.
Global provider of workforce housing expanding to Alberta oilsands
CALGARY - A Texas-based provider of workforce housing is moving into Alberta's energy industry.
Target Logistics, with administrative headquarters in Boston and operational heaquarters in Houston, recently acquired a 278-bed open camp near Fort McMurray - its first in the Alberta oilsands, but not last, foray into the province. And it recently released a white paper saying labour challenges in remote locations, such as Alberta`s oilsands, can be addressed through better housing solutions.
The conventional wisdom on Alberta`s economy is all wrong. That, at least, was the message chief Alberta Treasury Branch (ATB) economist Todd Hirsch brought to the Friday, March 7 Leduc Regional Chamber of Commerce luncheon, held at Leduc`s Best Western.
Hirsch didn`t upend the entire popular understanding of the province`s economy, but did focus on three of the most common economic `illusions,` as he sees them, that exist in the public perception.
Likening those perceptions to `optical illusions,` Hirsch spoke first about Alberta`s labour market, and the widely held idea that jobs here are plentiful and easy to find, regardless of one`s training or experience.
It ranks fourth in both size and population compared to other provinces, but Alberta outranks everyone else in the country when it comes to the best places to live in Canada, according to a new survey.
In fact, Alberta cities hog the top three spots on Money Sense magazine`s 2014 rankings and four out of the top 10.