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Alberta investors hit 'sweet spot'
`While home prices across the province are still in a slump, net in-migration and the country`s strongest wage growth are helping keep rents high across most of the province,` said Greg Head, co-author of The Canadian Investor`s Guide to Secrets of the Real Estate Cycle. `We`ve seen a real uptick in the number of renters.`
Those new workers, drawn by the province`s oil and gas industry, are renting rather than buying. Generally, they and other migrants don`t make that leap until after two years in a new market, said Head.
That`s created an advantage for landlords also benefiting from a shrinking jobless rate, now more than 2 percentage points below the national average. The phenomenon is also helping drive demand for a finite number of rental units.
Read the full article here.
`While home prices across the province are still in a slump, net in-migration and the country`s strongest wage growth are helping keep rents high across most of the province,` said Greg Head, co-author of The Canadian Investor`s Guide to Secrets of the Real Estate Cycle. `We`ve seen a real uptick in the number of renters.`
Those new workers, drawn by the province`s oil and gas industry, are renting rather than buying. Generally, they and other migrants don`t make that leap until after two years in a new market, said Head.
That`s created an advantage for landlords also benefiting from a shrinking jobless rate, now more than 2 percentage points below the national average. The phenomenon is also helping drive demand for a finite number of rental units.
Read the full article here.