By: Dennis & Heather Faulkner

EDMONTON HOME PRICES AND ALBERTA OIL

Tags: EDMONTON HOME PRICES AND ALBERTA OIL

I could create a compelling argument on how the slump in oil prices is a good thing for Alberta.

We simply were growing too fast. Our infrastructure was being taxed to the limit. Labour was becoming overwhelmingly expensive putting our medium and small businesses under enormous pressure to meet demand and find staff. This pause in our ridiculous growth gives Alberta an opportunity to regroup an opportunity to build infrastructure and government facilities at more reasonable costs.

In terms of real estate, the smart investors see this as a great opportunity to buy. The selection now is very good. There is a much better chance to negotiate and get a great buy on a great property. We have done quite a bit of work with some big players and that's what they're doing.

They are looking for properties that they can pick up, rent out and then when the time is right...knock the home down and put up a multifamily or a side by side duplex. The hot areas are within 800 meters of the upcoming LRT stations. (The Ice District - not sure yet if it's a great buy - a year ago, yes...now...???)

The scope of these Alberta projects are absolutely huge. They are not being cancelled, merely postponed. And as far as I'm concerned, it's a good thing for Alberta.

Dennis Faulkner B.A. Economics

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/teck-resources-delays-frontier-oil-sands-project-by-five-years/article25407239/