If You Build It They Will Come

With the economy going nuts in Alberta and it's capital city being pretty much the best place in the world to be investing in real estate, you have to wonder is there going to be an Edmonton housing shortage? The prices of real estate in Calgary have risen steadily and are now taking a bit of a breather. This means that the prices are dropping a little and more homes are on the market. Rest assured this is just a dip and the trend will continue upward. Edmonton follows Calgary's lead by about eighteen months so we will see the same softening here fairly soon which will be a good time to buy if you can.

Construction is prolific Alberta wide calling for workers and trades people and even with an influx of over 52,000 people in 2005, we will still have a labour shortage over the next ten years with more jobs than there are people to fill them. According to Alberta Economic Development Alberta gained 25,900 people in the first quarter of 2006 which is a record high for the province. All of these people need somewhere to live in order to enjoy the great economy and do well in their jobs. They aren't as interested in investing in real estate as they are in just finding a home to buy or even rent in a very tight market.

The construction jobs market will be great which encourages people to support the booming economy and buy homes if they can. While Alberta is investing in industrial construction we need to search out housing for those coming.

Rhonda Hoffman

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