Housing Prices in Edmonton Soar
"High energy prices and resource development in Northern Alberta continued to drive a strong housing market in Edmonton, with all three housing types experiencing substantial price appreciations in the quarter. A tight labour market leading to high income growth and corresponding consumer spending has helped stimulate much of the growth in the housing market."
"The country's economy is operating at full capacity and isexpected to do so through 2007. A tight labour market will mean highersalaries and more money in people's pockets. That money will continue to findits way into housing, as the family home continues to be one of the soundestlong term investments a Canadian can make. Balancing this, we will seemoderately higher interest rates to thwart inflation, which will help keep alid on house price increases in most of the country."
Full article here.