Quote:
Originally Posted by newflyer
Are you kidding me... you haven't heard of the 1.4 billion dollar increase in royalties??
Perhaps you haven't read a news paper in the last week .. or seen any local or national news.
Real Estate has also declined in Calgary for the third month in a row, down by over $50,000 from its high. Perhpas you have ignored that fact as well.
If you consider these very real facts as fear mongering than you are completely out to lunch. I guess some people prefer life with blinders on.
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I would agree with the assessment that there are some serious cracks appearing in Alberta right now. Edmonton is in the same boat as Calgary in terms of RE, tons of inventory, big prices drops (especially on higher end stuff) and a boatload of stuff being built. With a serious downturn in migration, the speculators and those who bought in over the past couple years could be hurting real bad, which could drag things down much like the US.
Throw in the plans to reduce drilling (companies use the royalty thing as an excuse but were planning to scale back because of cost anyway), cost overruns on oilsands projects fuelling inflation, you have potential for some major things.
If Alberta were to drop, there would be an impact on Sask, not sure how big it might be. Oil and gas overlap but Sask has some other stuff that Alta doesn't, how big these components are of the economy I'm not sure to buffer the province.