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some waygug-in
Joined: 25 Jan 2003
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Posted: Thu Nov 29, 2007 2:21 pm Post subject: |
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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.  |
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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
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Posted: Thu Nov 29, 2007 3:19 pm Post subject: |
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| 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
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Posted: Thu Nov 29, 2007 4:46 pm Post subject: |
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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
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Posted: Thu Nov 29, 2007 9:45 pm Post subject: |
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| Has nobody mentioned uranium? |
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Captain Corea

Joined: 28 Feb 2005 Location: Seoul
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Posted: Thu Nov 29, 2007 11:54 pm Post subject: |
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| 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
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Posted: Fri Nov 30, 2007 1:22 am Post subject: |
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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
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Posted: Fri Nov 30, 2007 1:48 am Post subject: Snow Cake |
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| Snow Cake. All the way. |
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peppermint

Joined: 13 May 2003 Location: traversing the minefields of caddishness.
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Posted: Fri Nov 30, 2007 6:07 am Post subject: |
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| 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
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Posted: Fri Nov 30, 2007 4:10 pm Post subject: |
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| 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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