In an earlier post I spoke about Jack and Susan Welch and their writing about the real estate buying opportunities.
Many people have the Chicken Little mentality ... "The Sky is Falling".
However, Jack and Susan, encourage others to think "HOLY COW, look at the buying opportunities.
HOLY COW ... Rich Dad Poor Dad Canadian Guy - Darren Weeks, summarized below some reasons Why I Loves Alberta - and investing in Calgary Real Estate:
- Alberta has the largest uncapped oil reserves in the world (along with Saudi Arabia), with a whopping 279 Billion barrels in reserve!
- In spite of green technology, the world demand for oil is continuing to increase all the time - especially with China and India ("Chindia") bursting onto the global scene.
- Over $167 Billion dollars in oil sands developments have been announced by the major oil companies. These guys don't just throw their money around. They realize that the huge U.S. market doesn't have too many "friendly" sources of oil anymore. Alberta is where it is at.
- In-migration to the province continues to grow like crazy. A stronger Canadian dollar, and weakening of the Eastern Manufacturing job market means more people coming into Alberta from the East. These people need somewhere to live.
- Alberta is the most tax efficient province in Canada. A person with a $70K salary in Alberta actually has 30% more take-home pay than someone with a $70K salary in Ontario.
- In spite of the increases in property prices, compared to other provinces like BC and Ontario, Alberta's Real Estate is still a bargain (and the Alberta population tends to earn a lot more money - making it even more affordable for them).
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