Economic Growth and Your Real Estate Investment
The Condoguys team believes that your real estate advice needs to have a broad economic perspective. Since Vancouver real estate prices are influenced by many factors you need to know where and when growth is predicted. Increases in jobs and wages make affordability easier for buyers and an overall strong economy will stabilize and grow the value of your investments.
CIBC World Markets has an article out looking at the strongest areas of growth in Canada. Saskatchewan and BC are the highest. They also don't see the Olympics and the money spent as a weight on growth moving forward.
Canada’s West to lead growth in 2010: CIBC
By QMI Agency
...resource-rich provinces in the West, led by Saskatchewan and B.C., will climb to the top of the economic growth charts in the next two years, CIBC World Markets Inc. said in its latest Economic Insights report. As provinces pick themselves up and dust themselves off from the economic slide, the march back to prosperity will be at varied speeds, said CIBC’s Warren Lovely who authored the bank’s provincial forecast. Canada’s West stands to benefit most from Asia-Pacific growth. Saskatchewan will lead the pack with GDP pegged at 3% for 2010 and 4.1% in 2011. B.C. is right behind at 2.8% and 3.4% for the next two years respectively. Saskatchewan, in contrast to other provinces, boasts a strong jobs picture and high consumer demand. Total employment in Saskatchewan advanced 1.5% last year as its population exploded, CIBC said. Oil, potash, agriculture and uranium products are in demand again, paving the way for production increases. In B.C., a settling housing market, renewed business investment spurred by the HST, upswings in mining activity and shale gas extraction, a deepening export base and improved transportation infrastructure mean the province is poised to outperform it’s counterparts. “We don’t see the end of Olympic spending as a significant drag,” the bank said.
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