After carefully reading the March`08 release of `housing afordability` from RBC economics, i am asking myself the question; "How is a more affordable market going to impact potential rental income / vacancy??". According to RBC, Edmonton housing (townhomes) has been falling by 5.3% for the last 2 quearters, and they are predicitng an even further cooling in the marketplace for `08, does this seem like the right time to buy; or should I wait for the prices to come down??????
Edmonton market
- Thread starter mzaurrini
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- Oct 2, 2007
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QUOTE (mzaurrini @ Mar 17 2008, 05:09 PM) After carefully reading the March`08 release of `housing afordability` from RBC economics, i am asking myself the question; "How is a more affordable market going to impact potential rental income / vacancy??". According to RBC, Edmonton housing (townhomes) has been falling by 5.3% for the last 2 quearters, and they are predicitng an even further cooling in the marketplace for `08, does this seem like the right time to buy; or should I wait for the prices to come down??????
Even though affordability may have lapsed somewhat in Edmonton relative to RBC`s Research there are extremely strong driving sources that will assist in keeping Edmonton in a healthy top ten town position. The fact that we have earned the name "Alberta`s Industrial Heartland" goes along way to solidify that fact. As MASSIVE amounts of work are erupting in Edmonton and surrounding area in all levels of construction with a large focus going to the upgrader alley, an influx of labour will be required to generate that sustainable workforce.
All these people will require a place to live wether renting or buying either one works well for anyone currently in this market. This edmonton workforce will likely see many leaving Ft. mac positions to come home for the same money...therefore ft mac will need to retain the workers leaving...only the almighty canadian dollar will do that. It is therefore likely that wages will increase for the oil industry as more projects come online. There has been a slowly growing trend for big oil to realize that they can pays a little more to retain quality trained people to icrease production vs letting thier good people take a position down the road for an extra $1-$2/hour.
It`s a great time to be in Edmonton for my money and i am excited about aquiring more once I aquire my Real Estate licence in May.
Hope this helps
Cheers!
Even though affordability may have lapsed somewhat in Edmonton relative to RBC`s Research there are extremely strong driving sources that will assist in keeping Edmonton in a healthy top ten town position. The fact that we have earned the name "Alberta`s Industrial Heartland" goes along way to solidify that fact. As MASSIVE amounts of work are erupting in Edmonton and surrounding area in all levels of construction with a large focus going to the upgrader alley, an influx of labour will be required to generate that sustainable workforce.
All these people will require a place to live wether renting or buying either one works well for anyone currently in this market. This edmonton workforce will likely see many leaving Ft. mac positions to come home for the same money...therefore ft mac will need to retain the workers leaving...only the almighty canadian dollar will do that. It is therefore likely that wages will increase for the oil industry as more projects come online. There has been a slowly growing trend for big oil to realize that they can pays a little more to retain quality trained people to icrease production vs letting thier good people take a position down the road for an extra $1-$2/hour.
It`s a great time to be in Edmonton for my money and i am excited about aquiring more once I aquire my Real Estate licence in May.
Hope this helps
Cheers!