October 2015 Alberta Economic Fundamentals

Ally

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Everyone NEEDS clarity: International Investors ‘urge’ Alberta to speed up royalty regime, climate policy: Notley

International investors have “urged” the Alberta government to move quickly on royalty regime and climate change policy changes, Premier Rachel Notley said Tuesday.

“They were certainly very interested in what we have to say — it was not surprising but also encouraging,”, after her meeting with energy investors in New York earlier in the day.

Read the full article here.
 

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TransAlta cuts 239 head office employees in Calgary to save money

Earlier this year, TransAlta “improved productivity” at its Canadian coal and mining business unit by reducing the head count by 247 employees and optimizing mine operations, changes which are expected to reduce annual costs by approximately $22 million, it said in a news release.

“These are important steps in the context of a very competitive Alberta market and they will ensure sustainable cost reductions into the future,” said chief financial officer Donald Tremblay in the latest release.

Read the full article here.
 

Ally

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Result of AB gov't inaction? “This year alone we’re going to spend about $1.1 billion in Saskatchewan,” says Crescent Point Energy

Crescent Point Energy isn’t about to let one of the biggest slumps in oil prices in recent history keep it down. Instead, Canada’s fifth-largest oil company is embarking on an ambitious investment plan — and it’s doing it in Saskatchewan.

“This year alone we’re going to spend about $1.1 billion in Saskatchewan,” says Scott Saxberg, CEO and president of Crescent Point Energy.

Read the full article here.
 

Ally

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Alberta recession not stopping Canadians from moving to province

Between April and June, more than 31,000 people came to Alberta from other provinces, said Hirsch, citing Statistics Canada numbers released Tuesday. About 23,000 packed up and left for greener pastures elsewhere in Canada during the same period, leaving a net gain of 8,264 new Albertans. That number outpaced the average quarterly gain of 7,000 over the past five years, said Hirsch.

“The fact that Alberta is still gaining thousands of net interprovincial migrants presents a bit of a puzzle,” Hirsch wrote in a commentary.


Read the full article here.
 

Ally

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Only two recessions in Calgary since 1987 and both more severe than 2015 forecast. History of binge and purge

“It’s going to be a recession, but by no means I don’t think is this going to be the worst one the city or the province has ever seen,” said Todd Hirsch, chief economist with ATB Financial. “Where most individuals start to notice it is in the job market. All these other indicators like output and manufacturing, or the real GDP, where people will feel it is when they’re laid off.

“(In) 1989, or even earlier in the 1980s, we had double-digit unemployment rates in the city and in the province. This time around I don’t think we’re going to get anywhere near to double-digits.”

Read the full article here.
 

Ally

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Registered
Calgary real estate market creates ‘accidental landlords’ forced to rent instead of sell.. These untrained landlords have the potential to cause chaos in the market and let's hope they learn how to screen tenants


CALGARY – The real estate market in Calgary has left some people without a lot of choice, with many forced to pull their property off the sellers’ market and try to recoup their costs by renting.

It’s an option that has seen exponential growth, particularly in higher-end homes.

Read the full article here.
 

Ally

Research Assistant
Registered
Calgary real estate market creates 'accidental' forced to rent instead of sell

CALGARY – The real estate market in Calgary has left some people without a lot of choice, with many forced to pull their property off the sellers’ market and try to recoup their costs by renting.

It’s an option that has seen exponential growth, particularly in higher-end homes.


Read the full article here.
 

Ally

Research Assistant
Registered
Everyone NEEDS clarity: International Investors ‘urge’ Alberta to speed up royalty regime, climate policy: Notley

International investors have “urged” the Alberta government to move quickly on royalty regime and climate change policy changes, Premier Rachel Notley said Tuesday.

“They were certainly very interested in what we have to say — it was not surprising but also encouraging,”, after her meeting with energy investors in New York earlier in the day.

Read the full article here.
 

Ally

Research Assistant
Registered
TransAlta cuts 239 head office employees in Calgary to save money

Earlier this year, TransAlta “improved productivity” at its Canadian coal and mining business unit by reducing the head count by 247 employees and optimizing mine operations, changes which are expected to reduce annual costs by approximately $22 million, it said in a news release.

“These are important steps in the context of a very competitive Alberta market and they will ensure sustainable cost reductions into the future,” said chief financial officer Donald Tremblay in the latest release.

Read the full article here.
 

Ally

Research Assistant
Registered
Result of AB gov't inaction? “This year alone we’re going to spend about $1.1 billion in Saskatchewan,” says Crescent Point Energy

Crescent Point Energy isn’t about to let one of the biggest slumps in oil prices in recent history keep it down. Instead, Canada’s fifth-largest oil company is embarking on an ambitious investment plan — and it’s doing it in Saskatchewan.

“This year alone we’re going to spend about $1.1 billion in Saskatchewan,” says Scott Saxberg, CEO and president of Crescent Point Energy.

Read the full article here.
 

Ally

Research Assistant
Registered
Alberta recession not stopping Canadians from moving to the province

Between April and June, more than 31,000 people came to Alberta from other provinces, said Hirsch, citing Statistics Canada numbers released Tuesday. About 23,000 packed up and left for greener pastures elsewhere in Canada during the same period, leaving a net gain of 8,264 new Albertans. That number outpaced the average quarterly gain of 7,000 over the past five years, said Hirsch.

“The fact that Alberta is still gaining thousands of net interprovincial migrants presents a bit of a puzzle,” Hirsch wrote in a commentary.

Read the full article here.
 

Ally

Research Assistant
Registered
Only two recessions in Calgary since 1987 and both more severe than 2015 forecast. History of binge and purge

“It’s going to be a recession, but by no means I don’t think is this going to be the worst one the city or the province has ever seen,” said Todd Hirsch, chief economist with ATB Financial. “Where most individuals start to notice it is in the job market. All these other indicators like output and manufacturing, or the real GDP, where people will feel it is when they’re laid off.

“(In) 1989, or even earlier in the 1980s, we had double-digit unemployment rates in the city and in the province. This time around I don’t think we’re going to get anywhere near to double-digits.”

Read the full article here.
 

Ally

Research Assistant
Registered
Calgary real estate market creates ‘accidental landlords’ forced to rent instead of sell.. These untrained landlords have the potential to cause chaos in the market and let's hope they learn how to screen tenants

CALGARY – The real estate market in Calgary has left some people without a lot of choice, with many forced to pull their property off the sellers’ market and try to recoup their costs by renting.

It’s an option that has seen exponential growth, particularly in higher-end homes.

Read the full article here.
 

Ally

Research Assistant
Registered
Suncor bids to take over Canadian Oil Sands, offering stock worth $4.3 billion

Read the full article here.
 

Ally

Research Assistant
Registered
Report finds #Alberta with most expensive rental housing in Canada

The Canadian Rental Housing Index April 2015 survey ranks Fort McMurray the most expensive place to rent a home in Canada. Alberta’s average monthly rate was $1,079 while Fort McMurray’s was $2,148.

It also found 38.6 per cent of Alberta households spend more than 30 per cent of their gross incomes on rent while 18.8 per cent spend more than 50 per cent.

Read the full article here.
 

Ally

Research Assistant
Registered
A tale of two cities: Comparison between Edmonton's Arena development and proposed Calgary arena

While the total cost of the CalgaryNext project outlined in August could be twice as much as Rogers Place, many of the arguments are the same heard in Edmonton.

Supporters say Calgary’s current facilities are outdated and can’t be properly upgraded, the development would revitalize surrounding property and using government money would boost future tax revenue while building a new fieldhouse the city needs.

Read the full article here.
 

Ally

Research Assistant
Registered
Wow, an Alberta budget to be released AFTER federal election... Who didn't see that manipulation coming

A new Mainstreet/Postmedia poll on Monday said 47 per cent of Albertans want cuts to programs and the public service to deal with a deficit that could hit $6.5 billion.

And yet, the NDP insists that laying off workers will only expand the jobless rolls and deepen the crisis.

Premier Rachel Notley’s government is in a political jam, plagued by low oil prices and mired five percentage points behind the Wildrose in the poll.

Read the full article here.
 

Ally

Research Assistant
Registered
Seniors' housing in Calgary among most expensive in Canada, report finds

Seniors in Calgary are faced with some of the most expensive housing in the country, a national organization says.

The report by the Canadian Federation of Municipalities (CFM) says the average monthly rent at purpose-built seniors' residences is about $3,100.

Read the full article here.
 

Ally

Research Assistant
Registered
Perspective is everything: Only two recessions in Calgary since 1987 and both more severe than 2015 forecast

“It’s going to be a recession, but by no means I don’t think is this going to be the worst one the city or the province has ever seen,” said Todd Hirsch, chief economist with ATB Financial. “Where most individuals start to notice it is in the job market. All these other indicators like output and manufacturing, or the real GDP, where people will feel it is when they’re laid off.

“(In) 1989, or even earlier in the 1980s, we had double-digit unemployment rates in the city and in the province. This time around I don’t think we’re going to get anywhere near to double-digits.”

Read the full article here.
 
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