October 2014 Alberta Economic Fundamentals

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#41
Calgary and Edmonton top two real estate markets in Canada





CALGARY - A new report released Tuesday by PwC and the Urban Land Institute says Calgary and Edmonton are the top two real estate markets in Canada.





Both Calgary and Edmonton scored well for investment, development and housing, said the Emerging Trends in Real Estate 2015 study.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#42
TransCanada files application for approval of East Energy pipeline





TransCanada Corp. has filed for regulatory approval for its massive Energy East pipeline, even as the project faces new competition from U.S. shale producers in key Eastern Canadian markets.





TransCanada submitted a formal application for the $12-billion project Thursday, kicking off a lengthy hearing process and environmental review for the 1.1-million-barrel-a-day pipeline. The Calgary-based company has pitched the project as a boon for Eastern Canadian refineries that currently rely on pricier Brent crude for feedstock. But those facilities are increasingly tapping cheap oil from U.S. suppliers as the boom in shale oil spills north across the border.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#43
Why the oil sands matter to every Canadian





Everything about Alberta`s oil sands is huge`from the sheer scale of the 170-billion-barrel resource in the ground, to the two-storey trucks that haul bitumen ore in the mines, to the $30-billion per year in capital investment to expand the flow of crude.







The industry was born 50 years ago with the largest single private investment made in Canada to that date, a $250-million bet by a forerunner of today`s Suncor Energy Inc.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#44
Get to the bottom of the barrel





The price of a barrel of oil is big news around the world these days.





Setting aside the fact there isn't actually "a" barrel of oil - but hundreds of "streams" or "blends" worldwide - or that no crude has been transported in wooden barrels for generations, the barrel of oil has a hold on the public psyche. Even the ubiquitous steel drums so often used to represent oil hearken back to an era before pipelines and super tankers.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#45
MEG Energy reports record oilsands production





CALGARY ­` The long-term gain of increased pipeline capacity led to short-term financial pain as oilsands producer MEG Energy Corp. reported another quarter of record production on Wednesday.





Bill McCaffrey, president and chief executive, said on a conference call MEG took a $27-million cash flow hit in the three months ended Sept. 30 as it produced nearly 76,500 barrels per day but sold only 69,800 bpd.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#46
Population growth continues to push Calgary housing demand





CALGARY - Population growth continues to push housing demand in the Calgary region.





A report released Tuesday by Ben Myers, senior vice-president of market research and analytics with Fortress Real Developments, described the city`s new housing market as `red hot.`





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#47
Calgary set to allow wood buildings to reach 6 stories





City planners hope to bring on more mid-rise condo projects at lower prices by announcing rules Wednesday to permit six-storey buildings with wood frames.





It`s a move the building industry expects to shave 10 per cent off development costs, to make going slightly taller more affordable in some areas.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#48
Demand high in commercial real estate in Calgary





CALGARY - Across Alberta a high growth rate in the economy is driving commercial real estate market growth, says a new report released Tuesday by RE/MAX.





`However, the recent drop in oil prices may influence the market in months to come,` said the firm`s Commercial Investor Report 2014. `Calgary`s current lack of inventory can be attributed to rising values, thereby increasing the demand for commercial real estate, specifically in retail and warehouse space for e-commerce and retail. Similar to other markets, foreign investment interest in Calgary is high.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#49
Competitive tax rates give Edmonton an entrepreneurial edge over other Canadian cities





Louise Dirks admits it would be easier on her travel schedule to run her high-end shoe business out of a city like Toronto or New York, where trans-Atlantic flights are scheduled multiple times a day.





At the beginning of October, the founder and owner of Gravity Pope had just returned to her Edmonton headquarters after a business trip to Paris. Ms. Dirks said that being based in Edmonton means there`s always one more flight to catch, or at least a few additional hours spent in a cramped airline seat, as she travels to France, Italy and Germany to source shoes and designer clothes for her stores in Edmonton, Calgary, Vancouver and Toronto.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#50
Weaker Canadian dollar offsets fall in price of crude oil





Marty Giles is shrugging off oil`s deep slide.





Despite plunging world and U.S. crude prices, the owner of Northstar Ford Group is forging ahead with plans for a $54-million dealership in Fort McMurray, Alta., confident that oil sands growth will help buoy sales of new trucks.





`We`re still building,` he said, comparing the 56,000-square-foot facility under construction to a high-end BMW or Lexus dealership. `We`re not going to be Chicken Little and say the sky is falling.`





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#51
Oil sands spur cross-country growth





Canadians across the country are gaining from oil sands development as thousands of manufacturers and service providers from coast to coast deliver goods and services to the oil sands region while generating jobs and economic growth at home.





A 2011 study by the Canadian Energy Research Institute, Economic Impacts of New Oil Sands Projects in Alberta (2010-2035) and available at www.ceri.ca, estimates the oil sands industry will buy about $117-billion in supplies and services from provinces other than Alberta over the next 25 years.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#52
Calgary rent increases double the national rate





Housing rental costs in Alberta are rising at the fastest pace in more than five years and are escalating in Calgary at more than double the national rate, according to a new report.





At the same time, the Calgary Housing Corp., which operates and manages subsidized and affordable housing units, has a growing wait list that ballooned by more than 800 people to 3,518 in September.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#53
Calgary a 'hotbed' of office construction in Canada





A new report says Calgary is a hotbed for office construction.





The city is second only to Toronto in that category of development, according to PricewaterhouseCoopers` Canadian Emerging Trends Real Estate report.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#54
Banff council adopts residential housing strategy





The Town of Banff has a new housing strategy to guide politicians trying to tackle Banff`s critical residential housing crunch.





On Monday (Oct. 27), council unanimously adopted the long-awaited housing strategy ` Not a Place to Live, a Place to Call Home prepared by the Community Housing Strategy Committee ` as a guide for decision-making.





The housing strategy calls for more rental housing, a maximum size for single family homes, residential housing in the industrial compound and mandating live-in management for new high density apartments as ways to tackle the housing shortage.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#55
Coal mining comeback?





The Crowsnest Pass has a rich history in the coal-mining industry. While there hasn`t been a working coal mine in southern Alberta for decades, an Australian company, Riversdale Resources, hopes to revive that.





Riversdale Resources has acquired property at Grassy Mountain and plans to build an open-pit mine producing two to four million tonnes of high-quality coking coal per year over 28 years. The company plans to export it to the Asian steel-making industry.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#56
Home construction in Calgary expected to cool off after projected record year in 2014





CALGARY - Total housing starts in the Calgary census metropolitan area are projected to reach a record high this year but then moderate in 2015 and 2016, according to a new report released Thursday by Canada Mortgage and Housing Corp.





And the city`s resale market will also set a record for annual MLS sales.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#57
Calgary a 'hotbed' of office construction in Canada





A new report says Calgary is a hotbed for office construction.





The city is second only to Toronto in that category of development, according to PricewaterhouseCoopers` Canadian Emerging Trends Real Estate report.





Read the full article here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#58
Secondary suite advocacy campaign hits the U of C





As the weather cools, Calgary`s housing debate is heating up. The Urban Calgary Students` Association (UCSA) is hosting a secondary suites advocacy campaign at the University of Calgary from Nov. 3`14.





UCSA addresses urban development in the city, specifically on changing regulations around secondary suites.





Read the full article here.