July 09, 2010

Housing Starts up over 40% in Regina and District
Housing starts were up in Regina and district by 40.6 per cent in the first six months of the year, according to Canada Mortgage and Housing Corp, statistics released Friday.

While Regina's numbers are down for June, they are actually up for the first six months of the year with a total of 516 housing s tarts occurred compared to 367 in the same six month period last year. The Leader-Post. read more

June 10, 2010

RBC Predicts Fastest Economic Growth in a Decade
Canada's economy is expected to surge in 2010, according to a new report from RBC Economics, which predicts gross domestic product growth of 3.6 per cent as a result of strong demand and increased job creation. RBC says Canada's real GDP grew at 6.1 per cent in the first quarter, the fastest pace in a decade... "Canada's economy continued to surge ahead as domestic demand was backed by increases in consumer, housing and government spending," said Craig Wright, senior vice-president and chief economist at RBC..."Looking ahead, positive signs in the job market indicate that the recovery will continue in the near term, as private investment increases following a sharp decline during the recession and core inflation remains on target."...RBC suggests Saskatchewan will lead the country in 2011 with a growth rate of 4.4 per cent, followed by Alberta at 4.2 per cent. National Post. Read More

June 04, 2010

Regina on Pace to Set Building Permits Record
May was yet another booming month for building permit activity in Regina, as the city remained on pace to potentially set a new record this year for building permits. Data released by the city indicates that building permits valued at $61.6 million were issued by the city in May, which was up from $49.7 million in May of last year. Since a new record for building permit values was set last year, the statistics so far this year raises the possibility that yet another new record will be set when everything is added up at the end of this year. Values of both residential and non-residential permits are up this year. Regina Leader Post

May 12, 2010

Regina New Home Prices Jump Almost Twice the National Average
REGINA — New home prices in Regina jumped nearly three per cent over March 2009 — almost twice the national average, Statistics Canada said Wednesday.

While the Regina new housing price index showed no increase over February, the 2.9-per-cent year-over-year increase in March was nearly double the 1.6-per-cent increase nationally.

Regina also enjoys the dubious distinction of seeing the largest increase in new housing prices of any major Canadian city since 1997.

During the last 13 years, Regina new home prices have risen nearly 160 per cent or two-and-half times, according to StatsCan's new housing prince index.

The March increase was in line with economists' forecasts.
Statistics Canada said its new house price index was also up 1.6 per cent in March from a year earlier, compared with an annual increase of 0.9 per cent in February. "The growth in March was mostly due to higher prices in Vancouver," the federal agency said.

On Monday, Canada Mortgage and Housing Corp. (CMHC) reported that home construction rose 1.3 per cent in April as Canada's real estate market continued to show signs of recovery.

Housing starts were up by a seasonally adjusted annual rate of 201,700 units last month, up from a revised 199,200 units in March. Read more

April 26, 2010

Prosperity Comes to the Prairies
Saskatchewan is in the early stages of a boom the likes of which it has never seen. It's an economic tide that will only rise as the world feasts on the prairie's rich bounty.

It is a resurgence built on the fact that, at this moment in history, Saskatchewan has what the world wants, whether it’s potash, oil and gas, uranium, diamonds, coal, and crops such as canola, lentils and wheat. Saskatoon, as its major business city with 240,000 people, has a swagger, lording it over Regina, the smaller capital city. Globe and Mail Report on Business. Read more.

April 1, 2010

10 Places to Be in Saskatchewan | A roundup of the province’s economic and business startup hot spots
Alberta Venture:While other Canadian cities reported shrunken GDP and higher rates of unemployment in the face of global instability, Regina’s GDP remained stable, and as of last December, its unemployment rate of 4.5% was the second lowest in the country. As for 2010, the Conference Board of Canada predicts Regina’s GDP will grow 2.8%.

April 1, 2010

This Boom Goes On | A lesson from Saskatchewan on building a recession-resistant economy
Alberta Venture: Several forecasters back that up. CIBC and RBC are predicting Saskatchewan will lead the nation in economic growth in 2010, while BMO has placed it second to British Columbia with its Olympic-sized economic boost. Read more

March 5, 2010

White City - Future Population
With all the developments such as, Stone Point Estates, West View Place, Garden of Eden and Crawford Estates, occurring in White City and vicinity, the area is booming. Currently the combined population of the three towns and surrounding RM is estimated to be between 8,000 and 9,000. Predictions peg the population to be approximately 25,000 in the next 10 to 20 years. Much of that new population could come from Clear Vistas, south of White City, a proposed development which could eventually house as many as 10,000 people. Many residents are hoping to see a permanent RCMP detachment and a new elementary school. Since the start of the 2006 school year, enrolment at White City’s elementary school has jumped 23 per cent to 463. (Enterprise Saskatchewan website as quoted by Leader Post, February 27, 2010) Read more.

February, 2010

East of Regina, it's Boom, Boom, Boom
One of the most flourishing areas in all of Saskatchewan is the area just east of Regina, along the Trans-Canada Highway. New developments are steadily underway and population projections are sky rocketing. As Tim Switzer pointed out, “Much of that could come from Clear Vistas south of White City, a proposed development which could eventually house as many as 10,000 people.” The Leader-Post. Read more

February 2010

Construction starts continues to rise.
According to Statistics Canada, Saskatchewan posted an 18% increase in non-residential construction investment in the fourth quarter of 2009; the highest increase in Canada.

The Conference Board of Canada predicts 2.5% economic growth in 2010 and 2.9 %
The Conference Board of Canada predicts 2.5% economic growth in 2010 and 2.9 % in 2011 for Saskatchewan, sustained by a stronger domestic economy and the recovery of the potash and energy sectors.

January 2010

Regina construction activity set a new record
Enterprise Saskatchewan reported, “Regina construction activity set a new record of $458 million in building permits in 2009, smashing the previous record of $342.5 million set in 2008. According to the City of Regina, this is the seventh consecutive year of record building activity in the Queen City. (Leader Post, January 6, 2010)

The average selling price for homes in metro Regina soared to a new high in 2009 and the number of properties sold was the second highest ever. Year-end statistics released by the Association of Regina Realtors indicate the average selling prices of homes sold through the multiple listing system was $244,328, which was up seven per cent from the previous record high set in 2008. There were 3,691 residential properties sold in metropolitan Regina last year, which was 10 per cent above the 2008 total. (Leader Post, January 7, 2009)”

December 2009

Building permits way up in Saskatchewan
“On a provincial basis, Saskatchewan had the largest percentage permit increase year-over-year in Canada on a seasonally unadjusted basis. In October 2009, permits were up by 99.2 per cent over last October. Nationally, building permits were up by 14.6 per cent. The October 2009 non-residential permits were up by 302.1 per cent over last October, almost 30 times the national increase of only 11.4 per cent.” (Enterprise Saskatchewan News Release, December 7, 2009)

November 26, 2009

Saskatchewan’s New Immigration Strategy Strengthens Communities and the Economy
In 2009-2010, the province is investing an additional $2.69 million in immigration, to better attract entrepreneur immigrants and skilled workers, and to provide them with enhanced settlement and integration supports, both before and after their arrival.
CIC Canada Immigration Newsletter June 2009 more

October 5, 2009

October Shatters Records Yet Again
Home sales in Regina and area in September shattered monthly records in several categories, the Association of Regina Realtors said Monday. There were 292 residential properties sold inside the city, up 18 per cent from 248 sales in 2008, while the Regina region saw 343 homes sold, up 23 per cent from 280 in 2008. September home sales in the Regina region surpassed the 300 mark for the first time, exceeding the previous high of 289 recorded in 2007. It also marked the seventh consecutive month sales have been above the 300 level -- the longest streak in the history of the MLS (multiple listing service) system in the Regina area. For the year-to-date, 2,586 homes have sold in the city, up 13 per cent from 2,298 sales recorded in 2008 and behind only 2,679 for the same period in 2007. "September exceeded all of our expectations for sales," Gord Archibald, executive officer of the Association of Regina Realtors, said in a press release. "Demand levels continue to be very strong for this time of the year, as evidenced by the record number of sales occurring during the month."
The Regina Leader-Post

September 3, 2009

Commercial, Iindustrial, Iinstitutional and Government Construction Drive up Building Permit Values
Construction activity in Regina maintained its record pace in August, with $28.4 million in building permits issued, compared with $20.2 million in August 2008, according the City of Regina's monthly building permit report.
The August report bring the total value of building permits for the year to date to $275.8 million, well ahead of last year’s record level of $225.3 million.
The lion’s share of the construction activity was in commercial, industrial, institutional and government buildings and alterations, which totaled $20.3 million last month, compared with only $2.5 million for the same period last year.
Residential building permits totaled $2.5 million in August, up from $1.8 million in the same month last year.
The Regina Leader-Post

September 02, 2009

August Another "Exceptional" Month for Real Estate Sales in Regina
Real estate sales in Regina jumped by 46 per cent last month, to the second highest level ever recorded in August.
Statistics released Wednesday by the Association of Regina Realtors indicate there were 312 residential properties sold in the city in August, which was up from 214 in August last year but below the all-time August record, of 397 sales, which occurred in 2007.
“August was yet another exceptional month for sales,’’ said Gordon Archibald, the executive officer of the real estate association.
“There continues to be solid demand for housing and consumer confidence in a home purchase, particularly in the first time buyer price ranges,’’ Archibald added.
But the supply of houses on the market is tightening, Archibald said.
And that good demand for homes combined with tightening supply could push house prices a bit higher later this year, Archibald said, in a telephone interview.
Regina Leader Post

August 5, 2009

July Shatters Sales Records
Residential sales through the Regina and area Multiple Listing Service® System in July surpassed 2008 levels by a substantial margin while shattering records in many key measurement categories, said the Association of Regina REALTORS® Inc.
For the year-to-date 1,982 homes have sold in the city, up 8% from 1,836 sales recorded in 2008 and behind only 2007’s 2,084 for the same period. YTD dollar sales volume in the city was $488.7M, another new high and an increase of 11% from the previous one of $439.3M set in 2008. There have been 2,220 sales posted in all geographic areas, a decrease of 1% from 2008’s 2,240 sales. YTD sales-dollar-volume of $543.0M for all areas was up 7% from the previous record high of $509.2M set in 2008.

“July certainly was an exceptional month by setting the high for sales for the year so far. Typically this would occur in the late spring months. It’s an indication of the continuing solid level of demand for housing in this area and that our market has been buffered from national and global economic downturns by the strength of the local economy”, said Gord Archibald, Executive Officer of the Association of Regina REALTORS Inc.
“We are anticipating strong demand for housing going into the late summer and believe that sales will likely surpass 2008 figures for many of the remaining months of the year. Of course, this will be dependent on the economy continuing to perform well for the rest of the year”, concluded Archibald
Multiple LIsting Service

June 23, 2009

STILL GROWING – POPULATION HITS HIGHEST LEVEL SINCE 1988

Saskatchewan's Population Grows By More Than 15,000 in Past Year to More Than 1,027,000

Even during a global economic recession, Saskatchewan's population continues to grow according to the latest population figures released today by Statistics Canada.

Saskatchewan grew by 3,282 in the first quarter of 2009, bringing the population up to 1,027,092 - its highest level since July 1, 1988. Saskatchewan's population has grown by 15,048 over the past year (April 1, 2008 to April 1, 2009).

Premier Brad Wall said the growing population numbers are one more sign of the strength and resilience of the Saskatchewan economy.

"People are still looking to Saskatchewan for opportunity," Wall said. "We lead the nation in employment growth, and that means more people staying in Saskatchewan and more people moving to Saskatchewan to work, live and raise their families.

"As I've said before, Saskatchewan is a great place to make a living, and an even better place to make a life.
News Release - June 23, 2009 Gov't of Sask. more

Dec. 11, 2008

Good Luck Finding an Apartment to Rent in Regina
Apartment vacancy rates in Regina have plummeted to a minuscule 0.5 per cent while rents have soared upwards by about 14 per cent, according to statistics released Thursday...An industry standard suggests that a three per cent vacancy rate would be a balanced apartment rental market that would provide customers with a reasonable choice of suites while at also giving apartment owners an opportunity to make a decent return on their investment, Caton said. While CMHC doesn’t necessarily subscribe to that three per cent vacancy rate standard, Caton said there is no dispute that the vacancy rate in Regina is exceptionally low by any standard...The CMHC information indicates rent increases also occurred in many areas of Saskatchewan, as the economy remained strong and the supply of apartments remained tight.
Source: The Regina Leader Post

December 3, 2008

Three Megaprojects Key to Regina's Future, says Mayor
Infrastructure projects, like Canadian Pacific’s intermodal facility, the Co-op refinery expansion and the revitalization of Evraz Place, are the foundation of the city’s future success, Mayor Pat Fiacco told the Regina and District Chamber of Commerce Wednesday. In his annual ‘year in review’ address, Fiacco updated chamber members on three major projects that will provide the impetus for job and economic growth in the city for years to come.....Work has begun on the multi-purpose facility at Evraz Place, which is part of an $180-million expansion plan...Another major project in the works is the $1.9-billion expansion project at Consumers’ Co-operative Refineries Ltd. (CCRL), which is expected to create 100 new permanent jobs and 2,500 during construction. According to CCRL, the project will be the largest capital project — in dollar terms — in Regina’s history. The project will increase refinery’s nameplate production capacity from 100,000 barrels of oil per day to 130,000 BOPD , while reducing the refinery’s water and natural gas consumption and air emissions...But the “most significant project ever seen in southern Saskatchewan is the Regina Inland Port and multi-modal facility,’’ Fiacco said, referring to CP’s intermodal facility (IMF), located west of the city near Pinkie Road... “The development of the multi-modal facility and the subsequent expansion of the goods sector will create hundreds or even thousands of new jobs and significant capital investment,’’
Source: The Regina Leader-Post

Nov. 04, 2008

Saskatchewan’s Future Rosy
Scotiabank's latest provincial forecast, released Friday, shows Saskatchewan leading the pack in 2008 and 2009, with projected economic growth of 2.4 per cent and 1.3 per cent respectively. That compares to a national economic growth forecast of 0.5 per cent in 2008 and negative 0.2 per cent in 2009. Scotiabank is just the latest chartered bank to predict that Saskatchewan will lead the nation in economic growth this year and next. RBC Financial Group recently forecast the province would post 3.9 per cent growth this year and 3.5 per cent next. Warren Jestin, Scotiabanks chief economist is confident Saskatchewan will escape the current economic maelstrom for two reasons. The first is a growing population due to in-migration from other provinces, reversing a 20-year pattern of net out-migration. That, in turn, will boost job growth by 1.7 per cent in 2008 and 0.6 per cent in 2009, well above the national average job growth of 1.5 per cent this year negative 0.3 per cent next year. The second reason is Saskatchewan's diversified economy, which draws strength from energy resources, as well as agricultural commodities...Besides, any kind of positive growth is good at a time when the world is facing "a global economic outlook that is very challenging,'' Jestin said.

Nov. 03, 2008

Strong Interest in Saskatchewan From Many Countries
Ambassadors and high commissioners from 24 countries gathered at the Petroleum Technology Research Centre (PRTC) Monday, as part of the province's diplomatic economic mission, which takes place in Regina and Saskatoon from Sunday to Wednesday. Energy and Resources Minister Bill Boyd said the mission shows there is strong interest in Saskatchewan from countries across the globe."Countries from all over the world now know about Saskatchewan and the very exciting things that are happening in terms of energy recovery, uranium recovery (and) our general energy profile," Boyd said..."We've talked with a number of folks already about opportunities here in Saskatchewan. There are also opportunities in terms of jobs for people coming to our province, so I think you'll see some very specific things coming forward in the not-too-distant future,"..."The message is really quite simple," Boyd said of the economic mission. "What we are saying is that we have world-class, leading technology in a number of areas in energy. (The delegates) are quite excited at the potential there is for that type of technology being transferred to whichever country they represent. "We're also talking about Saskatchewan being an energy powerhouse going forward. So there's opportunity to invest here in Saskatchewan for business activity and for immigration into our province as well."
Source: Regina Leader-Post

Oct. 09, 2008|

Housing Starts Up 48.3%
New housing starts in September rose by 48.3 per cent in Regina but dropped by 30.3 per cent in Saskatoon, according to statistics released Wednesday by the Canada Mortgage and Housing Corp. Regine Durand, a market analyst with CMHC, said high inventories of houses on the market for sale in Saskatoon are among the factors that have discouraged construction of new homes in that city. "In Regina, it is a different story,'' Durand said. High demand for new homes, increases in personal income and an influx of people into the community have helped spur the home construction industry in Regina, Durand said.
Source: Regina Leader Post

Oct. 09, 2008

Sask. to Lead Growth
Saskatchewan's economy will continue to roar while the Canadian and U.S. economies whimper over the next couple of years, according to projections released Wednesday by the RBC. The analysis by the RBC financial services group indicates Saskatchewan will lead the country in economic growth for the next few years. RBC analysts are also predicting the international economic turmoil experienced in recent weeks will dampen economic growth in many other parts of Canada but will stop just short of actually pushing the country into a recession. Saskatchewan "continues to enjoy the effects of recent exceptionally high prices for most of its key exports such as grains, oil, potash and uranium,'' said Craig Wright, the chief economist with RBC. "While these prices have come down from their peaks, they are expected to remain elevated well into 2009." "The continued weakness in the U.S. economy is expected to dampen growth in Canada,'' Wright said. But "the pressure on our growth will be tempered by strong commodity prices and which are contributing to robust export revenues and providing support to Canadian domestic spending and a boost to incomes,'' Wright said. The projections indicate that economic growth in Manitoba will be a close second to Saskatchewan among the Canadian provinces. Housing starts and retail spending in Saskatchewan are expected to remain quite strong, according to the RBC analysis.
Source: Regina Leader Post & RBC

Sept. 11, 2008

New Housing Price Index Shows Prices Still Rising in Regina
Although the rate of increase in new housing prices continued to ease in July for the sixth consecutive month, prices again rose at the fastest pace in Regina, which led the nation with a year-over-year price increase of 29.6%, down from its record increase of 34.0% in April of this year. On a month-over-month basis, new housing prices rose 2.6% from June. Builders reported that higher fuel and steel prices, as well as increased labour costs contributed to the higher prices. Stas Can. Full Story

Sept. 08, 2008

Saskatchewan Records Highest Value of Building Permits Since Figures First Recorded
For residential construction, July permits in Saskatchewan increased by 33.7 per cent, the third-highest percentage increase in the nation. "Record building permits in the province is indicative of the Saskatchewan economy today," Enterprise and Innovation Minister Lyle Stewart said in a press release. Full Story

July 23, 2008

Torrid Retail Sales Growth
For the 11th straight month, Saskatchewan led all provinces in yearly retail sales growth, according to Statistics Canada's report for May, which was released on Tuesday. Full Article

July 19, 2008

Canada West Foundation Cites Saskatchewan Economy as Very Favourable
In a report titled "Saskatchewan's Growth Will Come With Challeges", published in March 2008, Canada West Foundation concludes the the Saskatchewan economy is "favourable in virtually every sector and that overall, Saskatchewan will be the top economic performer in Canada." It declares that the "primary downside risk from outside the province is the US economy which has all but gone off the rails, the shortage of labour and engaging the fast-growing Aboriginal population in the workforce." Synopsis of Article

July 19, 2008

Resource Boom Puts Have-Nots on Top
"Both provinces (Saskatchewan & Newfoundland) led the country last year in the growth of provincial exports, in the rate of housing starts and in GDP growth...both provinces also reaped a bonanza off commodity royalties.
The Vancouver Sun

July 14, 2008

Saskatchewan Economy Leading the Nation
Saskatchewan ranks either first or second in nine out of 10 key economic indicators, according to the latest economic checklist released by the Saskatchewan government today. Full Story

July 11, 2008

Saskatchewan Will Lead
"Saskatchewan is projected to lead all of the provinces in economic growth for both 2008 and 2009, followed by Alberta". RBC Financial Group July 2008

July 10, 2008

Clear Vistas Development Another Step Closer to Reality
Todays article in the Regina Leader Post describes the latest step Clear Vistas has taken to making the project a reality. Full Story

"More specifically, the Clear Vistas Management Corp. has announced it has finalized the acquisition of 540 acres of land needed for the project which would be developed south of the Trans-Canada Highway and south of the Emerald Park Golf and Country Club in the Rural Municipality of Edenwold...the company is hoping to obtain investments to assist with the costs of the development. An investor information seminar has been scheduled for Regina next week."

June 27, 2008

Saskatchewan Economy Delivered Record Results
Today's release of the 2007-08 Public Accounts show Saskatchewan's economic output last year was firing on all cylinders, with a revenue increase of almost $2 billion over the 2007-08 Budget estimate.

Total General Revenue Fund (GRF) revenues came in at $9.8 billion largely due to increases in non-renewable resource revenue and a growing tax base.

"This is good news for everyone in Saskatchewan," Finance Minister Rod Gantefoer said. "A growing economy means more jobs and opportunities, higher wages, and increased provincial revenues - revenues that can be used to improve the quality of life for everyone in Saskatchewan." Source: Gov't Sask Press Release.

May 14, 2008

Saskatchewan Exports Lead Nation
Saskatchewan enjoyed a 36.3% increase in exports in March 2008 over March 2007. Even better, the province had $2.5 billion in exports in April, which was up 44.8 per cent from April of last year. Enterprise and Innovation Minister Lyle Stewart said the export numbers were great news. Saskatchewan's growth exports are in contrast to most other provinces, who have seen exports decline. Brad Michnik, executive director of trade development for the Saskatchewan Trade and Export Partnership says, "It's the food and energy. They're in high demand around the world. Those are the two strengths of the Saskatchewan economy." Source: Regina Leader-Post

April 11. 2008

Saskatchewan Land Sales Eclipsing Alberta and Generating Over $2600 per acre
Saskatchewan's red hot oilpatch has smashed records for both a single sale and annual sales in April because of the sale of Crown petroleum and natural gas drilling rights of over $462 million. This is considerably higher than sales of $264 million in Alberta so far this year. Many firms are turning their attention to Saskatchewan partly due to the attractiveness of the province's resources and partly due the raise in royalty rates in Alberta. The future economic benefits of this trend are difficult to exaggerate. Full Story

April 10, 2008

Saskatchewan is Expected to Lead Nation in Economic Growth in 2008 and 2009
Both RBC and Canada West Foundation are predicting that Saskatchewan will lead the provinces ahead of past front runner Alberta in economic growth for 2008 and 2009. Stength in the mining, energy and agriculture sectors are cited as primary reasons for this growth factor. As well, the province ranks number one in key housing indicators. Unemployment is now 4%, the lowest rate in 25 years.
Source: Regina Leader-Post, April 3, 2008

Feb. 16, 2008

Clear Vistas Development Planned for Regina Area
Article Regina Post

Jan. 22, 2008

Sask. Sees Highest Increase of any Province in Retail Sales
"Saskatchewan once again led the country in retail sales growth in November, according to the latest numbers from Statistics Canada.

Retail sales increased for the seventh time in eight months in Saskatchewan, climbing 1.9 per cent in November and 17.1 per cent year over year -- the highest increase of any province, the agency said in a report released Tuesday." excerpt, Leader Post.Full Story

Jan. 09, 2008

Housing Market Red Hot in Regina
"The housing market in Regina set all kinds of records in 2007, and the fourth quarter of the year was no exception. The average price of residential properties in Saskatchewan rose more than anywhere else in the country for the fourth quarter. From December 2006 to December 2007, some properties increased in price more than 50 per cent, according to the Royal LePage house price survey released Tuesday." excerpt, Leader Post. Full Story

However, it happens to be home to one of the hottest economies in the country, with GDP booming, arguably the most in-demand residential real estate in Canada, and petroleum reserves that are starting to look good to oil tycoons put off by pending royalty hikes in Alberta.
Source: Regina-Leader Post Full Story

Dec. 20, 2007

Saskatchewan Businesses Optimistic About the Future
Canadian Federation of Independent Business (CFIB) has recently released a survey that indicates members from Saskatchewan are the most optimistic in Canada in expectations of how they expect their businesses to perform over the next twelve months. Thirty-nine percent of Saskatchewan businesses surveyed expected to increase employment compared to with only 31% nationally.
Source: CFIB

Dec. 17, 2007

Regina Leads the Country in Forecast Housing Price Increase for 2008
“Canada's housing market in 2008 should continue to thrive on a balanced diet of strong economic fundamentals, including high levels of employment, resilient consumer confidence, modest levels of inflation and the relatively low cost of borrowing money,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services." 

"With the most affordable major market homes in Canada , residents of Regina and Winnipeg are forecast to drive the greatest increases in house prices in 2008, as job opportunities and in-migration continue to soar in each city."

Interest Rates
The move by the Bank of Canada to reduce its overnight target-lending rate by a quarter of a percent in December 2007 will bode well for first-time buyers planning to enter the market in 2008.  The relatively low current interest rates, and the possibility that rates could fall even lower in response to moderating inflation and lower rates in the U.S., will continue to attract new buyers to the housing market.

U.S. Economy
In sharp contrast to the weakening U.S. economy and deteriorating housing market, Canada 's economy and housing market continues to demonstrate staying power.  Canadian mortgage products are markedly different from those offered in the U.S. , and the sub-prime market makes up a significantly smaller portion of the overall Canadian mortgage market.  It is unlikely that the residential real estate industry in Canada will have to endure the kind of sharp correction underway south of the border.
Source: Royal Lepage 2008 Housing Market Forcast

Full Article: http://www.royallepage.ca/CMSTemplates/AboutUs/Company/CompanyTemplate.aspx?id=1684

Dec.13, 2007

Saskatchewan Oil Reserves Become a Strategic Asset
"Saskatchewan is at the epicentre of a 'new world oil order' thanks to its vast reserves of oil sands, heavy oil and other unconventional resources, according to a Washington, D.D. based energy consultant. (Paul Mivhel Wihbey of Global Water and Energy Strategy Team...by 2025, the U.S. will be importing about 70 per cent of it's oil consumption of 28.3 million barrels a day, with Canada its No. 1 supplier. This is where the Canadians - Alberta and now Saskatchewan - will be the pivot of the balance of power in the global oil market, said Wihbey... While the province has an estimated 39 billion barrels of oil in place more than 30 billion barrels are not recoverable using current technology." Source: Regina Leader Post
The Saskatchewan Party Government intends to keep a campaign promise made in this area to increase research funding - Editor.

Dec. 11, 2007

Strong Growth in Residential Housing Starts Continues
"Regina had 147 housing starts in November - up more than 44% from Nov. 2006. For the year to date Regina has seen total housing start of of 1377, the highest year-to-date starts since 1983."

A strong economy and a reversal in provincial migration (more people moving into the province than leaving - editor) is what Paul Caton, CMHC's Saskatchewna's senior market analyst, is attributing to the consistent growth in housing markets. "There is wage growth, low unemployment and our resource based economy is strong," said Caton. This gives people the confidence to make long term investments, such as housing."
Source: Regina Leader Post

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