So says Mike Percy, dean of the Faculty of Business at the University of Alberta. According to a recent article in the Edmonton Journal, if you live in Alberta “you’re living in the right place to ride out the recession.” Percy says there will likely be more impact in the long-term on southern Alberta than the north due to Calgary’s large number of head offices and investment bankers who focus mainly on the energy patch. And he further states that Red Deer may take the smallest hit of all from the current economic slowdown.
Percy contends that many of the oil projects are more closely tied to the price of oil five or ten years from now rather than the price of oil today. And he fully expects the price of oil to rebound significantly. That sounds like a promising economic future for Alberta to me!
So the next time you’re feeling a bit annoyed at the rising cost at the pump, think of it as a small price to pay for the long-term economic strengh of our province. Personally I am very grateful to live in the the best place in the world right now!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group
2 Comments
Thanks for your comment, Danielle. Too many people focus on the negative and as a result miss all the good that surrounds them. I believe that what we focus on expands, and there is lots of good news to focus on in Alberta!
The sad thing is if you ask the average person on the street they’ll tell you how bad it is!
It’s such a golden opportunity for purchasing real estate with the great interest rates and soft prices.