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May 2015 Alberta Economic Fundamentals

Ally

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Alberta wages highest in Canada despite slowing economy

Alberta’s economy may be slowing these days due to a slump in the energy sector but the province still has the highest average weekly earnings in the country.

Statistics Canada reported Friday that average weekly earnings of non-farm payroll employees in Alberta rose to $1,1160.06 in March, up 0.1 per cent from the previous month and a hike of 1.6 per cent from a year ago.

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Ally

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Would rent control be a disaster?

Rent control has been a disaster wherever it’s been tried. But this never stops politicians from suggesting it.

Last November, the leader of the then-fourth place party in the legislature, now newly minted Premier Rachel Notley, argued that Alberta needed rent control.

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Ally

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Alberta's rate of entrepreneurship best in Canada

Alberta boasts the best rate of entrepreneurship in the country, according to a new report that forecasts it could grow higher as laid-off workers seek new opportunities.

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Ally

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Calgary housing sales continue to slide; analyst expects political uncertainty to affect market

The slide in Calgary’s resale housing market continued in May and uncertainty about the new NDP government could keep buyers on the sidelines for another few months.

May marked the sixth consecutive month in which MLS sales declined, year-over-year in the Calgary market. It was the fifth straight month in which average prices declined on a year-over-year basis.

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Ally

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A whiff of recovery is in the Calgary air

Despite numbers showing a steep decline in resale activity in the Calgary area, some agents and onlookers in the city’s residential real estate community say they are encouraged by signs that real estate values are holding firm.

According to the Calgary Real Estate Board, sales in the city were down 23.5 per cent in May compared with last year. However, prices have proven resilient, moving down by just 1 per cent.

Read the full article here.
 
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