It has just been announced that PEI's unemployment rate jumped almost a percentage point to a whopping 11.2%, second highest in the country. One would think with an unemployment rate that high housing would tank, but on the contary housing is hot. There are a few reasons this could be the case, one being the influx of immigrants from China and South Korea, some of whom pay cash for their newly purchased homes and do not even seek employment for the first couple of years in their new country. A second reason could be the number of Islanders coming home from working out west and looking to spend their new found wealth on the best investment going...real estate. PEI has traditionally had an above average unemployment rate, so this new number does not spell the end to our continuing hot market. Besides whereelse can you still pick up beautiful waterfront land or a decent home for under $100,000. If you would like such a deal, just shoot me off an e-mail keithmaclean@remax.net
http://www.remax-charlottetown-pei.com/
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