What can change in 2019? No one can argue that Alberta’s economy is energy based and any energy related improvements are good for our economy. The Line 9 pipeline to the U.S. should be completed. The Trans Mountain pipeline could be approved. And, there will be provincial and federal elections that could have an impact on a number of energy projects. Any of these events will have a positive impact on our economy and more importantly on consumer confidence which is the precursor to a better economy.
Finally, the punishing mortgage rules inflicted on all of Canada as a solution for heated housing markets in Toronto and Vancouver have piled on top of the energy crisis to create a perfect storm for our housing market. Alberta home buyers have lost tens of thousands of dollars of borrowing power as a result. The federal government could easily create regional policies that apply only to the markets that need them. A move like that would immediately have a positive impact on our housing market. Here’s hoping!
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