Well the West is certainly a great place to call home; and not just because of the Rockies, the beautiful prairies, or the BC Coast. It’s a great place to live because of great people and some very sound economic times. It is not a common occurrence these days to speak to someone who has lost a job or who is finding it a challenge to find a new one. Home prices have been stable in most markets and rising in others, and the key economic indicators (GDP growth, new jobs, housing starts etc.) are all quite strong. Here are a few examples of what we’ve seen recently across the western provinces.
At the premiers’ conference (being held during the week of July 20th in Vancouver) BC’s Christy Clark, Alberta’s Ed Stelmach and Saskatchewan’s Brad Wall have all been talking extensively about exporting Canada’s energy riches to new markets and looking to increase ports and pipeline capacity to help feed an insatiable energy appetite from countries like China and India. Clark said “Asia-Pacific … of course is going to drive the economic success not just of British Columbia or the West, but the entire economy of Canada.”
On the topic of jobs, did you know that Alberta created more jobs in June 2011 than the entire United States?
But don’t say BOOM! Even Ted Menzies, junior federal finance minister, doesn’t want to use that word. He stated at a news conference in Calgary in July 2011 “I always try and avoid the boom word in Alberta because we all know what follows the boom….the other B word…it’s slow and it’s steady (growth). I think that’s very important.”
Hop one province east, Saskatchewan, and you will find the fastest growing city in Canada – Saskatoon.
And with interest rates set to only rise gradually, according to the Bank of Canada, we don’t expect any rash changes in the current course of the cost of money. I guess the one question mark might be in what is going to happen with the Canadian dollar against the greenback. There sure are many opinions on where it will go as it currently sits at the highest level in three years.
All these positive economic signs are good for mortgage companies like us. We pride ourselves on being an opportunity lender and when the Western Canadian opportunities are bountiful, it works well for us.
Alta Pacific Mortgage Investment Corp. publishes newsletters and updates throughout the year. We hope to provide a balance of news about our mortgage fund (Alta Pacific Mortgage Investment Corp.) as well as our thoughts and views of the economy and important news from the western provinces.
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Did you know?
These are the types of mortgages Alta Pacific is funding now…
- Residential & Commercial properties
- Urban areas (Vancouver, Burnaby, Langley, Edmonton, Calgary, etc.)
- $50,000 to $750,000 loan amounts
- Max 1 year terms
Articles of Interest
“Ontario premier decries ‘subsidies’ for Western Canada’s energy industry…”
Read more…
“Alberta adds 22,000 jobs in June…”
Read more…
“Saskatoon fastest growing city in Canada…”
Read more…
“Bank of Canada: Interest rate hikes will likely be gradual…
Read more…
• ”Canada’s dollar at almost three-year high on Carney rate stance…”
Read more…
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If you are interested in learning how you can share in the returns generated by mortgages, we invite you to learn about Alta Pacific MIC. We focus on consistent returns for registered investors (those with RRSP, LIRA, RESP, TFSA etc.) or open investments (for folks with cash on hand). Alta Pacific works with Western Canada’s best Exempt Market Dealers and we can introduce you to folks that will work to understand your current situation and future needs; and who can assist you in choosing the right Alta Pacific options for your investment. Or feel free to contact us directly with any questions you might have.
Security. Growth. Transparency.
Posted by altapacific 
