The Economic Research Center studies recessions.
Between 1962 and 2007 the following countries have been in recession x% of the time:
- Germany - 37%
- Japan - 18%
- Italy - 18%
- US - 13%
- Britain - 10%
- Canada - 8%
What is a recession?A recession occurs when an economy grows at less than 0 ... or negative ... over two quarters.
Germany has been in a recession 37% of the time over the last 45 years.
Some believe that when the US sneezes, Canada follows. Not true. The US has been in a recession 13% of the time - while Canada has only been in a recession 8% of the time.
My friends, this will pass. The US will climb from the recession that they may ... or may not ... be already in. Canada may slow along side the US ... but Alberta's economy is way too strong ... for us to slide into a recession.
Along with my colleagues at Real Estate Investment Network, I beleive Calgary, Alberta prices will increase in 2008 about 12%. (While this is small growth compared to 36% in 2006 and 18% in 2007 ... it is super-charged. 5-8% appreciation is all we should ever hope for.)
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