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Future: The Canadian Economy
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some waygug-in



Joined: 25 Jan 2003

PostPosted: Thu Nov 29, 2007 2:21 pm    Post subject: Reply with quote

Well, I wish I shared your optimism. For the present, Alberta has a bunch of Oil boom jobs that pay high wages, but most of the housing prices have gone sky high, so in the end workers can't save much ....it all goes to rent, car insurance, repairs, gasoline, etc.

Saskatchewan's oil reserves (if I remember correctly) are largely heavy oil in the south and some tar sands in the north. The problem with both of these is that it requires a sustained high crude oil price to make recovery and refining feasable.

So workers and trades people may earn more, but they will be paying a lot more in expenses. Confused
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blaseblasphemener



Joined: 01 Jun 2006
Location: There's a voice, keeps on calling me, down the road, that's where I'll always be

PostPosted: Thu Nov 29, 2007 3:19 pm    Post subject: Reply with quote

Quote:
But this is definitely one place we don't have to worry about a housing bubble.


famous last words...
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Ilsanman



Joined: 15 Aug 2003
Location: Bucheon, Korea

PostPosted: Thu Nov 29, 2007 4:46 pm    Post subject: Reply with quote

No one can really predict what's going to happen. But I like how Saskatchewan came up in the discussion. That's where I am from, and I bought a house there last year for $150,000. We could sell it now for $260,000 or more. But no matter how much prices go up, our mortgage won't.

The strong dollar is affecting my salary here, but only about 10%.
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Justin Hale



Joined: 24 Nov 2007
Location: the Straight Talk Express

PostPosted: Thu Nov 29, 2007 9:45 pm    Post subject: Reply with quote

Has nobody mentioned uranium?
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Captain Corea



Joined: 28 Feb 2005
Location: Seoul

PostPosted: Thu Nov 29, 2007 11:54 pm    Post subject: Reply with quote

Ilsanman wrote:
No one can really predict what's going to happen. But I like how Saskatchewan came up in the discussion. That's where I am from, and I bought a house there last year for $150,000. We could sell it now for $260,000 or more. But no matter how much prices go up, our mortgage won't.

The strong dollar is affecting my salary here, but only about 10%.


I've been tempted to buy in some small town in Sask for 50k... and just sit there for therest of my life. lol
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Ilsanman



Joined: 15 Aug 2003
Location: Bucheon, Korea

PostPosted: Fri Nov 30, 2007 1:22 am    Post subject: Reply with quote

If you are more than an hour away from Saskatoon or Regina, you can get a decent house for less than that.

Captain Corea wrote:
Ilsanman wrote:
No one can really predict what's going to happen. But I like how Saskatchewan came up in the discussion. That's where I am from, and I bought a house there last year for $150,000. We could sell it now for $260,000 or more. But no matter how much prices go up, our mortgage won't.

The strong dollar is affecting my salary here, but only about 10%.


I've been tempted to buy in some small town in Sask for 50k... and just sit there for therest of my life. lol
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Faunaki



Joined: 15 Jun 2007

PostPosted: Fri Nov 30, 2007 1:48 am    Post subject: Snow Cake Reply with quote

Snow Cake. All the way.
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peppermint



Joined: 13 May 2003
Location: traversing the minefields of caddishness.

PostPosted: Fri Nov 30, 2007 6:07 am    Post subject: Reply with quote

There's a huge housing bubble in the Fort McMurray area. A former roommate moved there in August, and she's paying well over a thousand bucks a month for a room in a house, and to hear her tell it, the city is like that HBO series Deadwood, except set in 2007
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mindmetoo



Joined: 02 Feb 2004

PostPosted: Fri Nov 30, 2007 4:10 pm    Post subject: Reply with quote

Captain Corea wrote:
I've always thought of Canada as being fairly pegged to the US economy. If the US is down, Canada follows (a year or so behind sometimes).

Canada may not have the 'sub-prime bubble' , but I wonder about any other problems lurking under the surface.


Well, things change. It's a global economy now. If you notice, America had a recession in 2000 but Canada kept on growing. A first in history, certainly. But the current US softness isn't affecting Canada at all.
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