SK Economic Fundamentals 2009-01

[joeiannuzzi]

0109SASK
Housing starts fall 1.6% in 2008

Last year was a very good one for housing starts in Regina and Saskatoon, but not quite as great as 2007, according to year-end data released Friday.

The information, provided by the Canada Mortgage and Housing Corporation, indicates there were 1,375 housing starts in the metropolitan Regina area last year, which was down 1.6 per cent from 2007.

http://www.leaderpost.com/news/todays-pape...3049/story.html

 

[joeiannuzzi]

0109SASK
Sask. building permits up

The country saw widespread declines in both residential and non-residential building in November, but Saskatchewan continued to buck the national trend.

On Friday, Statistics Canada reported a 11.8-per-cent national drop in building permits from October to November on a seasonally adjusted basis.

http://www.leaderpost.com/Homes/Sask+build...3060/story.html

 

[joeiannuzzi]

0109SWFT
City residential lots up for sale

In 2008, the City of Swift Current had tremendous interest from people wishing to purchase residential lots and this demand has not slowed.

"Bringing these 34 lots onto the market will definitely help to some degree with the pent up demand. We know there is tremendous interest in residential lots, therefore we will be having a lot draw on January 28th to allow all interested individuals an opportunity to acquire a lot," stated Director of Finance Tim Marcus.

http://www.swbooster.com/index.cfm?sid=208588&sc=39

 

[joeiannuzzi]

0109MSJW
City issues 366 building permits in 2008

The City of Moose Jaw issued 47 more building permits in 2008 than in 2007, totalling 366 over the past 12 months.
The permits in 2008 were worth approximately $54.344 million altogether. In 2007, all local building permits were worth $40.86 million.
However, the value of permits issued for the last month of 2008 was substantially lower than the same 31-day period in 2007.

http://www.mjtimes.sk.ca/index.cfm?sid=209056&sc=3

 

[joeiannuzzi]

0109MSJW
Downtown property purchases for multiplex being finalized

The City of Moose Jaw is finalizing downtown property purchases to make way for the multiplex.
This week, the windows on the NAPA Auto Parts store on 119 River St. W. were covered in white paper. The word "closed" was written on the paper.
City land administrator Lori Wilkinson said administration is concluding negotiations with NAPA owners.
The NAPA building is one of the eight properties the city needs to buy in order to build the downtown portion of the future recreational facility project.

http://www.mjtimes.sk.ca/index.cfm?sid=209228&sc=3

 

[joeiannuzzi]

0109SASK
Sask. considers clean coal proposals

REGINA -- SaskPower and the provincial government will face a major decision this year as they attempt to move forward with a groundbreaking "clean coal" project near Estevan.

After inviting 15 vendors to bring forward proposals last summer, SaskPower has received five responses from companies interested in providing the technology for its $1.4-billion pilot project.

http://www.canada.com/saskatoonstarphoenix...0f-46452a2ccfb9

 

[joeiannuzzi]

0109RGNA
New home prices increase 21%

When it comes to new housing, Regina is second in the country for year-over-year price increases.

On Monday, Statistics Canada released its new housing price index, showing that from November 2007 to November 2008, the price of new homes increased by 21.7 per cent in the city. Only St. John`s, N.L. experienced a higher increase than Regina, with prices there going up 25.6 per cent.

http://www.leaderpost.com/Business/home+pr...0851/story.html

 

[joeiannuzzi]

0109SKTN
Council OKs Riversdale condo project

A three-storey condo project with a view of the river can proceed despite opposition from some Riversdale residents.

The project includes 23 units, balconies, underground parking and a peaked-roof design, according to Group 10 Properties` application to the city. Council approved zoning for a higher density of residential development for four properties on Avenue F South -- the 530, 532, 534 and 538 addresses. The site abuts 17th Street West, north of the Legion building.

http://www.canada.com/saskatoonstarphoenix...10-37dad15ed99a

 

[Debratty]

This is great information I appreciate the time you`ve put in to post this. I read Don Campbells book 3 years ago and Saskatoon Screamed Investment. Keep the good news coming. I`m in the hotel industry which has a pulse to the economy. We have not seen a slow down in the Saskatoon/Northern region in exploration or construction as of yet. The downward trend is a great release of steam as costs were to pricey for hotel development(and any commercial development) and should be able to refocus and adjust moving forward.
Thanks again

 

[joeiannuzzi]

0109SASK
Sask., Alta., B.C. March meeting will be a first

The Saskatchewan, Alberta and BC cabinets will hold a joint meeting this March, the first trilateral cabinet conference in Canadian history, Premier Brad Wall said Tuesday.

The meeting -- agreed to Monday at a meeting of Wall and BC premier Gordon Campbell and Alberta premier Ed Stelmach in Vancouver - will focus on a regional plan to deal with the ailing world and Canadian economies.

http://www.leaderpost.com/news/Sask+Alta+M...4184/story.html

 

[joeiannuzzi]

0109SASK
Drilling up in Saskatchewan

Saskatchewan`s oilpatch posted its second-best year ever in 2008, with 4,045 oil and gas wells drilled, 150 wells behind the record 4,195 wells drilled in 2003, Saskatchewan Energy and Resources said Tuesday.

And while oil prices currently remain below $40 US per barrel, SER officials are "cautiously optimistic`` of another good year for oil and gas exploration in 2009.

http://www.leaderpost.com/news/todays-pape...4190/story.html

 

[joeiannuzzi]

0109SASK
`Innovative` pulse industry expected to see significant growth

Canada is already the "big kid on the block" when it comes to pulse crops, but more can be done to expand the commodity`s global reach, says a member of a national industry association.

"In addition to exploiting all the demand that`s out there today and in addition to out-competing everyone else, we`re going to have to create some new demand in the marketplace," said Greg Cherewyk, director of transportation for Pulse Canada.

http://www.canada.com/saskatoonstarphoenix...bc-5c759b4afe0d

 

[joeiannuzzi]

0109RGNA
City poised to approve conversion despite tenant pleas

Mary Lapeyre has moved 24 times in her life and doesn`t want to move again.

The Regina senior has lived in an apartment at 2141 Rae St. for more than 25 years. In addressing the City of Regina`s Planning Commission on Wednesday night, Lapeyre voiced her opposition to the proposed conversion of her apartment building to condominiums.

http://www.leaderpost.com/news/todays-pape...9078/story.html

 

[joeiannuzzi]

0109SASK
Global demand for metals goes soft quickly

The fact that commodity prices were hit hard in the fourth quarter is no surprise to anyone.

Molybdenum had it the worst, falling 53%. Oil followed with a 51% decline, copper was down 49%, nickel fell 43%, aluminum dipped 34% and zinc dropped 33%.

The slowing global economy has weakened demand for metals, which is having a significant negative impact on earnings.

http://www.leaderpost.com/news/todays-pape...9114/story.html

 

[joeiannuzzi]

0109SASK
Bank projects Sask. GDP to grow in 2009

Another major bank is forecasting Saskatchewan to lead the country in economic growth in 2009, with a projected one-per-cent increase in real gross domestic product (GDP) versus negative 1.3-per-cent growth in Canada, according to Bank of Montreal.

"Saskatchewan`s economy continues to forge ahead despite a pronounced slowdown across the country,`` said the BMO forecast released Wednesday. "A diverse commodity mix, fiscal stimulus and renewed population growth likely kept real GDP growth at a healthy three per cent in 2008, before cooling to one per cent this year -- still the strongest in Canada."

http://www.leaderpost.com/Business/Bank+pr...9112/story.html

 

[joeiannuzzi]

0109SASK
Global situation favourable for Canadian canola: expert

Global demand for Canadian canola remains strong, but new inventory from countries developing their agricultural roots means local producers are going to have to work harder to grow better product, says an international oilseed expert.

Thomas Mielke, editor-in-chief of Hamburg, Germany-based Oil World Publications, said Wednesday consumers such as the European Union and China still want Canadian canola, but producers in places such as Ukraine and South America are starting to compete for a share of the market.

http://www.canada.com/saskatoonstarphoenix...f2-4cc6554806ed

 

[joeiannuzzi]

0109SASK
Sask. bucks national trend

Reuters) -- Home sales in Canada fell 17 per cent in 2008, hit by a sharp drop in activity in the fourth quarter as the economy entered recession and consumer confidence slumped, the Canadian Real Estate Association said Thursday.

The drop in activity in the fourth quarter accounted for more than half of the decline in transactions from 2007, the record-high year.

http://www.leaderpost.com/Homes/Sask+bucks...4084/story.html

 

[joeiannuzzi]

0109SASK
New vehicles roaring off lots in province

Sales of new motor vehicles continue to be strong in Saskatchewan, despite an international economic crisis and questions about the future of the big three North American automakers.

The latest car and truck sales data, released Thursday by Statistics Canada, shows new-vehicle sales in Saskatchewan were up by a seasonally adjusted 12.7 per cent in November compared to November 2007.

http://www.canada.com/saskatoonstarphoenix...c5-b2c392eae965

 

[joeiannuzzi]

0109SASK
Decision on Sask. infrastructure funds awaits budget day

Premier Brad Wall said the mood was constructive as premiers met with Prime Minister Stephen Harper Friday on the ailing Canadian economy, but there is little certainty over what Saskatchewan will get from its wish list until the federal budget is released Jan. 27.

Wall said the Conservative government`s interest in accelerating and increasing infrastructure spending found a receptive audience among provincial and territorial leaders.

http://www.canada.com/saskatoonstarphoenix...63-cf67350348b4

 

[joeiannuzzi]

0109SKTN
`Saskaboom` up on downtown

While it may be all doom and gloom in Calgary these days, such is not the case in Saskatoon or, as the locals now call it, "Saskaboom."

I recently had a chance to visit there for the first time and I was impressed with what I saw, as well as learned, about the future urban development plans in the city some call the "Paris on the Prairies."

http://www.calgaryherald.com/news/todays-p...7517/story.html