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The Ripple Effect

By
Services for Real Estate Pros with Glenn Simon Inc.

Alberta's boom is affecting it's neighbouring provinces in many ways. From borrowing their young workforce to increasing their property values. The ripple of the billions of dollars invested in Alberta is obvious.

In B.C not only are they catching the run-off of smaller oil companies that can't bear the new Royalties Revision but rich Albertans are buying up water front property like it is going out of style.

The other way Saskatchewan has seen property values rise as native Saskatchewans who have made their money in the oil sands return home and bolster up. The province hopes to attract more of its 125,000 youth lost to the boom province and to scope up some oil sand overflow.

Our neighbours are doing well but it is still Alberta that everyone is investing in now. The Royalties Revision is said to have cost Alberta $10 Billion in projects but there is still close to $170 Billion in projects that are on the way.

Comments (5)

Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes
Interesting to hear about other areas. Thanks for sharing.
Nov 22, 2007 09:18 AM
DAWN COX
Weichert, Realtors - Wayne, NJ
Broker-Salesperson, REALTOR, ABR, SRES, RELO, e-PR
I have a seller that lives in Edmonton. He is co-executor with his mother on a ranch property and separately deeded land. It is a challenge for me as his listing agent to advise him about our market here in New Jersey because he cannot relate to it!
Nov 22, 2007 09:47 AM
Todd and Danielle Millar
Glenn Simon Inc. - Edmonton, AB
Nineteen years of excellence!

Bob & Carolin - My pleasure.

Dawn - We are spoiled out here with an crazy market that went up 50+% in the last year. It would be hard to relate! It a huge oil town.

Nov 22, 2007 10:25 AM
DAWN COX
Weichert, Realtors - Wayne, NJ
Broker-Salesperson, REALTOR, ABR, SRES, RELO, e-PR

I understand that you are experiencing a phenomenom at the moment. But, this seller is capable of reading news from the US regarding our current real estate market, if he doesn't want to take my word for it as his listing agent. You know what I mean? I'll assume prosperity doesn't always equate to ignorance outside your own little world.

Nov 22, 2007 11:50 AM
Todd and Danielle Millar
Glenn Simon Inc. - Edmonton, AB
Nineteen years of excellence!
Dawn - Never a truer word spoken. Just because the market does well doesn't mean those who prosper understand the economics of any market. Thanks for writing back.
Nov 22, 2007 03:18 PM