October 2009
- Thread starter Ally
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Our Oil, U.S. Need
Canada`s oilsands may take a daily beating in the international media and from environmentalists, but the arithmetic of U. S. consumption and supply all but ensures a long, prosperous future for our dirty oil.
The United States imports 60% of its daily fuel requirements. President Barack Obama has vowed to wean his country off Middle East oil within 10 years. The U. S.`s other nearby secondary suppliers are either hostile (Venezuela) or their production is dwindling so quickly that they could be a net importer of oil within five years (Mexico). For every five barrels of oil America consumes a day, one comes from Canada. One barrel of every 20 now consumed in the United States is pumped straight out of the oilsands, a number that could triple inside of 15 years.
That leaves the United States with one stable long-term oil option. And we`re it.
While environmental groups gush that Mr. Obama will be a green president compared to tar-stained Prime Minister Stephen Harper, he doesn`t appear to be following the script.
The proof, some would argue, is in the pipeline.
The U. S. State Department last month quietly blessed a $3.3-billion pipeline--dubbed the Alberta Clipper -- that will start feeding 450,000 barrels of oilsand bitumen daily into the U. S. heartland next year.
Read the full article here.
Canada`s oilsands may take a daily beating in the international media and from environmentalists, but the arithmetic of U. S. consumption and supply all but ensures a long, prosperous future for our dirty oil.
The United States imports 60% of its daily fuel requirements. President Barack Obama has vowed to wean his country off Middle East oil within 10 years. The U. S.`s other nearby secondary suppliers are either hostile (Venezuela) or their production is dwindling so quickly that they could be a net importer of oil within five years (Mexico). For every five barrels of oil America consumes a day, one comes from Canada. One barrel of every 20 now consumed in the United States is pumped straight out of the oilsands, a number that could triple inside of 15 years.
That leaves the United States with one stable long-term oil option. And we`re it.
While environmental groups gush that Mr. Obama will be a green president compared to tar-stained Prime Minister Stephen Harper, he doesn`t appear to be following the script.
The proof, some would argue, is in the pipeline.
The U. S. State Department last month quietly blessed a $3.3-billion pipeline--dubbed the Alberta Clipper -- that will start feeding 450,000 barrels of oilsand bitumen daily into the U. S. heartland next year.
Read the full article here.
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September MLS Home sales in Top 3 Despite Dip
EDMONTON - Edmonton MLS home sales in September fell short of making it four months in a row that activity has surpassed year-ago sales.
Residential sales in September fell 1.45 per cent compared to the same month last year, according to figures released Monday by the Realtors Association of Edmonton.
There were 1,704 residential sales in September, compared to 1,729 in September 2008.
But the realtors group said last month still ranked as the third-best September for sales, behind last year and September 2006, when 1,844 homes were sold.
Observers say the numbers point to a sound real estate market, despite the September sales dip compared to a busy month last year.
"In the summer, we had big year-over-year increases, but this time last year the market perked up for a while before it slowed down later in the year," said Richard Goatcher, Canada Mortgage and Housing Corp.`s senior market analyst for Edmonton.
Read the full article here.
EDMONTON - Edmonton MLS home sales in September fell short of making it four months in a row that activity has surpassed year-ago sales.
Residential sales in September fell 1.45 per cent compared to the same month last year, according to figures released Monday by the Realtors Association of Edmonton.
There were 1,704 residential sales in September, compared to 1,729 in September 2008.
But the realtors group said last month still ranked as the third-best September for sales, behind last year and September 2006, when 1,844 homes were sold.
Observers say the numbers point to a sound real estate market, despite the September sales dip compared to a busy month last year.
"In the summer, we had big year-over-year increases, but this time last year the market perked up for a while before it slowed down later in the year," said Richard Goatcher, Canada Mortgage and Housing Corp.`s senior market analyst for Edmonton.
Read the full article here.
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New LRT Plan embraces vision of revitalizing Neighbourhoods
"The LRT is not just about moving people," says Bob Boutilier, the general manager of the city`s transportation department. "It`s about building a city."
And with that philosophy in mind, city transportation planners have spent the last couple of weeks hosting well-attended open houses to explain their vision for a new kind of rapid-transit system.
There`s been lots of talk about a west corridor and a southwest corridor. But we`re not actually talking about two lines, but about one 25-kilometre, above-ground, urban network, linking Lewis Estates to Mill Woods, with a nexus at Churchill Station where riders could transfer to the other line.
You could, in other words, get on one car, and ride from the Misericordia Hospital to the Grey Nuns, or from West Edmonton Mall to Whyte Avenue.
City planners have taken a bold risk. They`ve chosen not the cheapest, the shortest or the fastest route, but the route most likely to encourage infill development and revitalize older neighbourhoods.
Read the full article here.
"The LRT is not just about moving people," says Bob Boutilier, the general manager of the city`s transportation department. "It`s about building a city."
And with that philosophy in mind, city transportation planners have spent the last couple of weeks hosting well-attended open houses to explain their vision for a new kind of rapid-transit system.
There`s been lots of talk about a west corridor and a southwest corridor. But we`re not actually talking about two lines, but about one 25-kilometre, above-ground, urban network, linking Lewis Estates to Mill Woods, with a nexus at Churchill Station where riders could transfer to the other line.
You could, in other words, get on one car, and ride from the Misericordia Hospital to the Grey Nuns, or from West Edmonton Mall to Whyte Avenue.
City planners have taken a bold risk. They`ve chosen not the cheapest, the shortest or the fastest route, but the route most likely to encourage infill development and revitalize older neighbourhoods.
Read the full article here.
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Edmonton records increase in New Home Prices
EDMONTON — Prices of new homes in Edmonton rose 0.4 per cent in July over June, said Statistics Canada Friday.
It`s the first monthly price increase since October 2007.
"While some builders recorded lower selling prices in July, many builders returned to regular list prices after having negotiated lower prices in previous months," the federal agency noted in its new housing price index.
New home prices also rose in Calgary by 0.5 per cent, the largest monthly increase since March 2008.
"Prices for new homes have probably been taking their cues from the cities` resale markets, which, thanks to record low interest rates and a rebound in consumer confidence, have recovered nicely in mid-2009," said ATB Financial economist Dan Sumner.
Read the full article here.
EDMONTON — Prices of new homes in Edmonton rose 0.4 per cent in July over June, said Statistics Canada Friday.
It`s the first monthly price increase since October 2007.
"While some builders recorded lower selling prices in July, many builders returned to regular list prices after having negotiated lower prices in previous months," the federal agency noted in its new housing price index.
New home prices also rose in Calgary by 0.5 per cent, the largest monthly increase since March 2008.
"Prices for new homes have probably been taking their cues from the cities` resale markets, which, thanks to record low interest rates and a rebound in consumer confidence, have recovered nicely in mid-2009," said ATB Financial economist Dan Sumner.
Read the full article here.
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Now is the Time to buy a House, Albertans believe
EDMONTON - Now is the time to buy a home, many Albertans believe, says a new survey from PricewaterhouseCoopers.
Buying a house reached an index rating of 164 in July — the highest index since tracking by the business and consumer confidence survey started in February 2007. It was 157 in May and 146 in March.
"Consumers continue to see advantage in purchasing a house in the current economy," said David Bryan an advisory partner in PricewaterhouseCooper`s Edmonton office.
Nine hundred Albertans and 246 business leaders were surveyed by telephone in late July by Leger Marketing. The margin of error is plus or minus 3.3 per cent, 19 times of 20.
Businesses are growing more optimistic about the economy, results released Monday suggest.
Read the full article here.
EDMONTON - Now is the time to buy a home, many Albertans believe, says a new survey from PricewaterhouseCoopers.
Buying a house reached an index rating of 164 in July — the highest index since tracking by the business and consumer confidence survey started in February 2007. It was 157 in May and 146 in March.
"Consumers continue to see advantage in purchasing a house in the current economy," said David Bryan an advisory partner in PricewaterhouseCooper`s Edmonton office.
Nine hundred Albertans and 246 business leaders were surveyed by telephone in late July by Leger Marketing. The margin of error is plus or minus 3.3 per cent, 19 times of 20.
Businesses are growing more optimistic about the economy, results released Monday suggest.
Read the full article here.
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Real Estate Market surges
Edmonton helped push Canada`s July housing sales to the best on record for the month and the largest year-over-year increase in two years, the Canadian Real Estate Association said Friday.
Edmonton-area sales rose nearly 28 per cent with 2,277 resale homes purchased in July, breaking the July record of 1,953 set in 2006 during a heated market.
But the average residential price of $324,847 was down one per cent from June and down three per cent from July 2008.
The Ottawa-based group, which represents about 100 boards across the country, said there were 50,270 units sold nationally via the multiple listing service last month. That`s an 18.2-per-cent jump from a year ago. It also marked the first time sales had topped 50,000 in July.
"The difference in the resale housing market now, compared to the beginning of the year, is night and day and nowhere is this more evident than in the West," said Dale Ripplinger, association president.
Read the full article here.
Edmonton helped push Canada`s July housing sales to the best on record for the month and the largest year-over-year increase in two years, the Canadian Real Estate Association said Friday.
Edmonton-area sales rose nearly 28 per cent with 2,277 resale homes purchased in July, breaking the July record of 1,953 set in 2006 during a heated market.
But the average residential price of $324,847 was down one per cent from June and down three per cent from July 2008.
The Ottawa-based group, which represents about 100 boards across the country, said there were 50,270 units sold nationally via the multiple listing service last month. That`s an 18.2-per-cent jump from a year ago. It also marked the first time sales had topped 50,000 in July.
"The difference in the resale housing market now, compared to the beginning of the year, is night and day and nowhere is this more evident than in the West," said Dale Ripplinger, association president.
Read the full article here.
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Enbridge plans Gulf Pipeline with Chevron
Enbridge Inc., Canada`s largest pipeline company, plans to build an oil pipeline in the Gulf of Mexico with Chevron Corp., Norway`s StatoilHydro ASA and Japan`s Marubeni Corp.
The 64-kilometre Big Foot conduit will cost about US$250 million and will transport about 100,000 barrels of oil a day, Calgary-based Enbridge said Monday in a statement. The 20- inch-diameter pipeline will be placed as deep as 5,900 feet below water and be located about 170 miles south of Louisiana.
Enbridge said it entered into a letter of intent with divisions of San Ramon, Calif.-based Chevron, StatoilHydro and Marubeni to construct and operate the line.
Read the full article here.
Enbridge Inc., Canada`s largest pipeline company, plans to build an oil pipeline in the Gulf of Mexico with Chevron Corp., Norway`s StatoilHydro ASA and Japan`s Marubeni Corp.
The 64-kilometre Big Foot conduit will cost about US$250 million and will transport about 100,000 barrels of oil a day, Calgary-based Enbridge said Monday in a statement. The 20- inch-diameter pipeline will be placed as deep as 5,900 feet below water and be located about 170 miles south of Louisiana.
Enbridge said it entered into a letter of intent with divisions of San Ramon, Calif.-based Chevron, StatoilHydro and Marubeni to construct and operate the line.
Read the full article here.
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Oil rises on Stockpile Decline
Oil rose for a third day in New York after an industry report showed a decline in fuel and crude stockpiles in the U.S., the biggest energy-consuming nation.
Crude traded above US$71 a barrel after the American Petroleum Institute said yesterday that distillate fuel inventories fell by 2.91 million barrels last week and crude supplies dropped by 254,000 barrels. The U.S. Energy Department will report government supply figures on Wednesday.
"The unexpected drawdown in inventories has helped anchor prices around US$71 in New York, but concerns about the rate of recovery are inhibiting a break higher," said Christopher Bellew, senior broker at Bache Commodities Ltd. in London.
Crude oil for November delivery rose as much as 88 cents, or 1.2%, to US$71.76 a barrel in electronic trading on the New York Mercantile Exchange. It was at US$71.18 at 11:48 a.m. London time.
On Tuesday, the contract gained 47 cents to settle at US$70.88. The API released its data at 4:30 p.m. New York time. Prices have climbed 60% this year.
Read the full article here.
Oil rose for a third day in New York after an industry report showed a decline in fuel and crude stockpiles in the U.S., the biggest energy-consuming nation.
Crude traded above US$71 a barrel after the American Petroleum Institute said yesterday that distillate fuel inventories fell by 2.91 million barrels last week and crude supplies dropped by 254,000 barrels. The U.S. Energy Department will report government supply figures on Wednesday.
"The unexpected drawdown in inventories has helped anchor prices around US$71 in New York, but concerns about the rate of recovery are inhibiting a break higher," said Christopher Bellew, senior broker at Bache Commodities Ltd. in London.
Crude oil for November delivery rose as much as 88 cents, or 1.2%, to US$71.76 a barrel in electronic trading on the New York Mercantile Exchange. It was at US$71.18 at 11:48 a.m. London time.
On Tuesday, the contract gained 47 cents to settle at US$70.88. The API released its data at 4:30 p.m. New York time. Prices have climbed 60% this year.
Read the full article here.
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Diversification readies West for Recovery
In just one month, Michael Dopf saw several company signs in Calgary`s Foothills Industrial Park replaced with "For Lease" notices.
"[Calgary] went from an overheated market to nothing in the blink of an eye," says the co-owner of Ingrained Style Furniture Co., a custom furniture manufacturer.
"We had already seen slowdowns in our industry in the U.S. before it hit here, so we were anticipating it. But you can never get a handle on how bad it`s going to be."
Don Oborowsky, chief executive of Waiward Steel Fabricators Ltd. in Edmonton, says after close to 40 years of ups and downs, even he was taken by surprise. "We pretty much had the rug pulled out from underneath us. Our company saw $250-million worth of work on the books a year ago. Between now and last Christmas all that got pulled out, and three to four months ago to the end of July we had absolutely no work on the books."
Another long-time manufacturing veteran, Mel Svendsen, chief executive of Standen`s Ltd., a Calgary-based producer of truck and trailer suspension products, agrees WesternCanada`s manufacturing sector "is feeling some serious pain, particularly those involved in making goods for the resource sector."
Read the full article here.
In just one month, Michael Dopf saw several company signs in Calgary`s Foothills Industrial Park replaced with "For Lease" notices.
"[Calgary] went from an overheated market to nothing in the blink of an eye," says the co-owner of Ingrained Style Furniture Co., a custom furniture manufacturer.
"We had already seen slowdowns in our industry in the U.S. before it hit here, so we were anticipating it. But you can never get a handle on how bad it`s going to be."
Don Oborowsky, chief executive of Waiward Steel Fabricators Ltd. in Edmonton, says after close to 40 years of ups and downs, even he was taken by surprise. "We pretty much had the rug pulled out from underneath us. Our company saw $250-million worth of work on the books a year ago. Between now and last Christmas all that got pulled out, and three to four months ago to the end of July we had absolutely no work on the books."
Another long-time manufacturing veteran, Mel Svendsen, chief executive of Standen`s Ltd., a Calgary-based producer of truck and trailer suspension products, agrees WesternCanada`s manufacturing sector "is feeling some serious pain, particularly those involved in making goods for the resource sector."
Read the full article here.
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Edmonton International flying high after Top Reward
EDMONTON — Edmonton International Airport picked up the top prize for overall excellence the second year running at the North American Airports Council marketing awards.
EIA was honoured in seven categories in total, with Edmonton agency Donovan Creative involved in six of them, including the Language of Speed destination marketing campaign.
Read the full article here.
EDMONTON — Edmonton International Airport picked up the top prize for overall excellence the second year running at the North American Airports Council marketing awards.
EIA was honoured in seven categories in total, with Edmonton agency Donovan Creative involved in six of them, including the Language of Speed destination marketing campaign.
Read the full article here.
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Optimism rising among Alberta`s Small Business Owners
EDMONTON — Optimism jumped higher in September among small businesses in Alberta, according to a survey released Wednesday by the Canadian Federation of Independent Business.
The numbers reveal confidence among small business owners in Alberta rose 5.9 points for an index score of 65.4, compared with 59.5 in August.
Measured on a scale between zero and 100, an index level above 50 means owners expecting their businesses` performance to be stronger in the next year outnumber those expecting weaker performance. Scores normally range between 65 and 75 when the economy is growing.
Optimism in Alberta plateaued in August at 59.5, compared with 61.4 in June and 61.1 in July
Nationally, small business confidence in Canada has continued a clear upward trend in September, according to the latest CFIB survey findings.
Read the full article here.
EDMONTON — Optimism jumped higher in September among small businesses in Alberta, according to a survey released Wednesday by the Canadian Federation of Independent Business.
The numbers reveal confidence among small business owners in Alberta rose 5.9 points for an index score of 65.4, compared with 59.5 in August.
Measured on a scale between zero and 100, an index level above 50 means owners expecting their businesses` performance to be stronger in the next year outnumber those expecting weaker performance. Scores normally range between 65 and 75 when the economy is growing.
Optimism in Alberta plateaued in August at 59.5, compared with 61.4 in June and 61.1 in July
Nationally, small business confidence in Canada has continued a clear upward trend in September, according to the latest CFIB survey findings.
Read the full article here.
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Pickens ups Oilpatch Stake
Texas oil tycoon T. Boone Pickens said Tuesday he has increased his long oil and natural gas position in recent weeks.
"It`s not my personality to be short," said the billionaire who has made his fortune investing in the oil sector.
Oil prices are likely to be around $75 US a barrel by the end of this year and $85 by the end of 2010, Pickens said, but he added that an economic recovery could boost prices much higher.
"If you have a global recovery, then you could easily be $90 a barrel next year, you could be $100 a barrel," he said.
He also said he sees the average price for natural gas next year at $7 per million British thermal units, up from about $5 currently.
Read the full article here.
Texas oil tycoon T. Boone Pickens said Tuesday he has increased his long oil and natural gas position in recent weeks.
"It`s not my personality to be short," said the billionaire who has made his fortune investing in the oil sector.
Oil prices are likely to be around $75 US a barrel by the end of this year and $85 by the end of 2010, Pickens said, but he added that an economic recovery could boost prices much higher.
"If you have a global recovery, then you could easily be $90 a barrel next year, you could be $100 a barrel," he said.
He also said he sees the average price for natural gas next year at $7 per million British thermal units, up from about $5 currently.
Read the full article here.
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Developer of Calgary Condo to buy Homes from Buyers
CALGARY - A high-profile downtown condo project has announced a unique program to spark sales.
Anthem Properties, developer of the Waterfront highrise condo project in the downtown Eau Claire district, says it will buy the existing home of anyone who purchases a selected Waterfront residence.
Under the program, if someone hasn`t sold their existing home by the time they move into Waterfront, then Anthem will buy it at a pre-agreed price. In June, Anthem re-priced many Waterfront homes to reflect the change in the market. Sixty condos have sold in 60 days as a result of the price reductions.
"We all recognize that the past year`s economic nuclear winter has made many of us leery about future prospects," said Eric Carlson, chief executive of Anthem Properties. "That`s why we believe this bold demonstration of confidence in Calgary will encourage people to move forward with those home ownership changes they`ve been waiting to make."
The first Waterfront Tower, along Riverfront Avenue, is 22 storeys and will be completed this fall. The second phase has 272 units and will be completed in about two years. The project on the 2.1-hectare site will eventually include three towers and five podiums, totalling about 1,000 residential units. Market demand will determine the construction schedule for the rest of the Waterfront project.
Read the full article here.
CALGARY - A high-profile downtown condo project has announced a unique program to spark sales.
Anthem Properties, developer of the Waterfront highrise condo project in the downtown Eau Claire district, says it will buy the existing home of anyone who purchases a selected Waterfront residence.
Under the program, if someone hasn`t sold their existing home by the time they move into Waterfront, then Anthem will buy it at a pre-agreed price. In June, Anthem re-priced many Waterfront homes to reflect the change in the market. Sixty condos have sold in 60 days as a result of the price reductions.
"We all recognize that the past year`s economic nuclear winter has made many of us leery about future prospects," said Eric Carlson, chief executive of Anthem Properties. "That`s why we believe this bold demonstration of confidence in Calgary will encourage people to move forward with those home ownership changes they`ve been waiting to make."
The first Waterfront Tower, along Riverfront Avenue, is 22 storeys and will be completed this fall. The second phase has 272 units and will be completed in about two years. The project on the 2.1-hectare site will eventually include three towers and five podiums, totalling about 1,000 residential units. Market demand will determine the construction schedule for the rest of the Waterfront project.
Read the full article here.
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Speculative construction to impact Calgary`s Office leasing Market
CALGARY - Over the next two or three years, speculative new construction will be one of the biggest issues facing the Calgary office leasing market, says commercial real estate firm Avison Young.
In a report, the company said between October 2009 and early 2012, about 6.3 million square feet will be added to the city`s office space inventory, an increase of 11 per cent, but only two-thirds of the space has been leased, with 2.3 million square feet not yet spoken for.
"Once occupancy does begin to occur, both the vacancy created by new construction and any resulting backfill space will add to the existing vacancy. This combined vacant space will impact the market heavily," said the company.
"Until positive economic growth results in job creation, corporate growth, and increasing commodity prices, vacancy levels are expected to remain high. The one counterpoint to the increase: as vacancy rises, asking rents will decline. Declining rents tend to entice tenants sitting on the fence regarding expansion plans to capitalize on the opportunity. Some tenants are expected to take advantage of lower rents available in the market to expand their space needs. Should sufficient movement into positive absorption be achieved in the next two years, vacancy will still increase, but at a reduced rate from the current forecast."
The semi-annual report, which covers current trends in the commercial real estate industry, said Calgary office vacancy has increased dramatically since fall 2008, and is projected to rise through the next couple of years.
Read the full article here.
CALGARY - Over the next two or three years, speculative new construction will be one of the biggest issues facing the Calgary office leasing market, says commercial real estate firm Avison Young.
In a report, the company said between October 2009 and early 2012, about 6.3 million square feet will be added to the city`s office space inventory, an increase of 11 per cent, but only two-thirds of the space has been leased, with 2.3 million square feet not yet spoken for.
"Once occupancy does begin to occur, both the vacancy created by new construction and any resulting backfill space will add to the existing vacancy. This combined vacant space will impact the market heavily," said the company.
"Until positive economic growth results in job creation, corporate growth, and increasing commodity prices, vacancy levels are expected to remain high. The one counterpoint to the increase: as vacancy rises, asking rents will decline. Declining rents tend to entice tenants sitting on the fence regarding expansion plans to capitalize on the opportunity. Some tenants are expected to take advantage of lower rents available in the market to expand their space needs. Should sufficient movement into positive absorption be achieved in the next two years, vacancy will still increase, but at a reduced rate from the current forecast."
The semi-annual report, which covers current trends in the commercial real estate industry, said Calgary office vacancy has increased dramatically since fall 2008, and is projected to rise through the next couple of years.
Read the full article here.
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Housing Sector works its Magic
CALGARY - The housing sector has performed a great Houdini act, managing to escape from the clutches of a serious economic downturn with a remarkable turnaround as sales have roared back from low levels earlier in the year, says a prominent national economist.
Douglas Porter, deputy chief economist with BMO Capital Markets who was in Calgary on Tuesday, said "buyers really looked across the valley of the recession."
"They saw the combination of a little bit of a dip in prices and very low rates as a good long-term opportunity," said Porter, who appeared during a panel discussion on the local real estate market. "Buying a house is not something you`re doing for a year or two years. You`re arguably doing it for the rest of your life. At the end of the day, buyers just view this as basically a once-in-a-lifetime opportunity to get in. And I think that`s why the market turned and turned so aggressively."
Porter said it was a surprise for many economists how quickly the housing market turned around given the underlying weakness in the economy.
"Alberta`s actually seen the biggest rise in its jobless rate of any province in the country from its lows over the past year, but be that as it may, that affects less than 10 per cent of the population," Porter said. "The rest of the population that still has a job just saw this as a tremendous opportunity and seized that opportunity."
Read the full article here.
CALGARY - The housing sector has performed a great Houdini act, managing to escape from the clutches of a serious economic downturn with a remarkable turnaround as sales have roared back from low levels earlier in the year, says a prominent national economist.
Douglas Porter, deputy chief economist with BMO Capital Markets who was in Calgary on Tuesday, said "buyers really looked across the valley of the recession."
"They saw the combination of a little bit of a dip in prices and very low rates as a good long-term opportunity," said Porter, who appeared during a panel discussion on the local real estate market. "Buying a house is not something you`re doing for a year or two years. You`re arguably doing it for the rest of your life. At the end of the day, buyers just view this as basically a once-in-a-lifetime opportunity to get in. And I think that`s why the market turned and turned so aggressively."
Porter said it was a surprise for many economists how quickly the housing market turned around given the underlying weakness in the economy.
"Alberta`s actually seen the biggest rise in its jobless rate of any province in the country from its lows over the past year, but be that as it may, that affects less than 10 per cent of the population," Porter said. "The rest of the population that still has a job just saw this as a tremendous opportunity and seized that opportunity."
Read the full article here.
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Housing Crisis eases, but jitters Remain
CALGARY - Calgary`s housing crisis has improved slightly over the past year, but citizens surveyed for an annual report card remain concerned about increasing homelessness and high rental costs in the city.
The 2009 Vital Signs report, being released publicly today, gave a middling "C" to housing-- up from a D last year and a D-in 2007.
"There`s certainly a sense that the higher grade reflects a drop in housing and condominium prices," said Kerry Longpre of the Calgary Foundation, which prepared the report. "If you`ve got the money, this is a good time to be looking at buying.
"Curiously though . . . one of our indicators show although there is more rental units on the market, the rent prices have gone up."
Read the full article here.
CALGARY - Calgary`s housing crisis has improved slightly over the past year, but citizens surveyed for an annual report card remain concerned about increasing homelessness and high rental costs in the city.
The 2009 Vital Signs report, being released publicly today, gave a middling "C" to housing-- up from a D last year and a D-in 2007.
"There`s certainly a sense that the higher grade reflects a drop in housing and condominium prices," said Kerry Longpre of the Calgary Foundation, which prepared the report. "If you`ve got the money, this is a good time to be looking at buying.
"Curiously though . . . one of our indicators show although there is more rental units on the market, the rent prices have gone up."
Read the full article here.
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Calgary feeling Good, Despite Bust
CALGARY - The troubled economy and surging unemployment haven`t dampened Calgarians` views of their city, according to the Calgary Foundation`s latest report card.
Its Vital Signs survey, released today, paints a rosier picture of the city than years past, with higher grades in seven of the 12 key categories reported. None of the scores dropped from last year.
In a year when economic woes have dominated headlines, the findings are an interesting reflection of the community, said Kerry Longpre of the Calgary Foundation, which helps identify and address needs in the city.
"Calgarians are optimistic. At the same time, when we look at the comments of what`s working, what`s not, they have deep concerns in some key areas," she said.
The survey, which collects public opinion on about 50 indicators, saw a series of Bs and Cs, but still no As.
Read the full article here.
CALGARY - The troubled economy and surging unemployment haven`t dampened Calgarians` views of their city, according to the Calgary Foundation`s latest report card.
Its Vital Signs survey, released today, paints a rosier picture of the city than years past, with higher grades in seven of the 12 key categories reported. None of the scores dropped from last year.
In a year when economic woes have dominated headlines, the findings are an interesting reflection of the community, said Kerry Longpre of the Calgary Foundation, which helps identify and address needs in the city.
"Calgarians are optimistic. At the same time, when we look at the comments of what`s working, what`s not, they have deep concerns in some key areas," she said.
The survey, which collects public opinion on about 50 indicators, saw a series of Bs and Cs, but still no As.
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Calgary Housing Market shows signs of Recovery
CALGARY - Calgary`s resale housing market continued to show signs of a strong recovery in September.
According to data released today by the Calgary Real Estate Board, single-family home sales increased by 9.11 per cent last month compared with a year ago while condominium sales were up by 24.73 per cent.
Single-family sales totalled 1,257 units in September and condo sales were 580.
Average MLS sale prices also increased during the month.
For single-family homes, the average price was $459,085, up 3.39 per cent from September 2008 while condos rose in price by 0.98 per cent to $290,253.
Read the full article here.
CALGARY - Calgary`s resale housing market continued to show signs of a strong recovery in September.
According to data released today by the Calgary Real Estate Board, single-family home sales increased by 9.11 per cent last month compared with a year ago while condominium sales were up by 24.73 per cent.
Single-family sales totalled 1,257 units in September and condo sales were 580.
Average MLS sale prices also increased during the month.
For single-family homes, the average price was $459,085, up 3.39 per cent from September 2008 while condos rose in price by 0.98 per cent to $290,253.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Eyeing a Total Oil Sands Package
French petroleum giant Total SA could add fuel to the oil sands` resurgence as the company nears a decision on a major expansion project, the company`s new Canadian head said yesterday.
A construction decision on a 90,000-barrel-a-day expansion of Surmont, which is operated by co-owner ConocoPhillips, will come in late 2009 or early 2010, said Jean-Michel Gires, recently named president and chief executive officer of Total E&P Canada Ltd.
Surmont currently produces 20,000 daily barrels. An expansion would come as the first in a series of decisions that Total, which employs 300 in Canada, plans to make in coming years under Mr. Gires, who has spent more than 20 years with the company. The company hopes to gain regulatory approval for its proposed Edmonton upgrader by early 2011, and for its Joslyn mine by the end of 2011.
But the road ahead is marked with numerous obstacles, many of them environmental issues brought to the fore by a series of recent Greenpeace protests.
In a wide-ranging interview with The Globe and Mail at his Calgary office yesterday, Mr. Gires shared his thoughts on Total`s future in Canada.
Read the full article here.
French petroleum giant Total SA could add fuel to the oil sands` resurgence as the company nears a decision on a major expansion project, the company`s new Canadian head said yesterday.
A construction decision on a 90,000-barrel-a-day expansion of Surmont, which is operated by co-owner ConocoPhillips, will come in late 2009 or early 2010, said Jean-Michel Gires, recently named president and chief executive officer of Total E&P Canada Ltd.
Surmont currently produces 20,000 daily barrels. An expansion would come as the first in a series of decisions that Total, which employs 300 in Canada, plans to make in coming years under Mr. Gires, who has spent more than 20 years with the company. The company hopes to gain regulatory approval for its proposed Edmonton upgrader by early 2011, and for its Joslyn mine by the end of 2011.
But the road ahead is marked with numerous obstacles, many of them environmental issues brought to the fore by a series of recent Greenpeace protests.
In a wide-ranging interview with The Globe and Mail at his Calgary office yesterday, Mr. Gires shared his thoughts on Total`s future in Canada.
Read the full article here.