Adding To The Boom

When you look at the oilsand upgrader projects that Alberta has planned you have to just shake your head in amazement at the real estate opportunities that they will provide. At present there are five upgrader projects in the works that will add to Alberta's boom economy to the tune of ten to twenty billion (yes that's billion) dollars in the next few years.

With each upgrader will come workers from far and wide to fill the projects needs. With each of those workers comes the need for housing and thus the boost to the real estate market. The unfortunate part is that the available property won't be enough for people to buy a home and even the rental market is a very tight one. Property prices are going up and rental increases are being invoked as often as the law will allow. For Alberta's property owners it is a windfall as we are not subject to rent control. It makes for fierce competition which can enhance or ruin the housing condition with the potential of leaving a lot of people without homes. The influx of people will be good for the retail economy as well.

If you have an opportunity to get in on the real estate market boom it is an excellent time to buy. Even though prices seem exorbitant at present, they are projected to continue rising for another few years before the inevitable slow down starts. Buy now if you can as the upgraders will only add to the economy and you want to get in on the boom while it lasts.

Rhonda Hoffman

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