Quantitative easing by key economies is providing much of the needed fuel firing up the Canadian property real estate market. Photo: AFP Houses for sale at a new property development in the oil-sands-rich boomtown of Fort McMurray in Alberta on October 24, 2009. At an estimated 175 billion barrels, Alberta's oil sands are the second largest oil reserve in the world behind Saudi Arabia, but they were neglected for years, except by local companies, because of high extraction costs. Since 2000, skyrocketing crude oil prices and improved extraction methods have made exploitation more economical, and have lured several multinational oil companies to mine the sands. AFP PHOTO/Mark RALSTON
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Concrete Analysis
Canada residential real estate looks risky, but it’s not everywhere
The residential sector is all fired up, but is it staring at a bubble and will it pop?
Quantitative easing by key economies is providing much of the needed fuel firing up the Canadian property real estate market. Photo: AFP Houses for sale at a new property development in the oil-sands-rich boomtown of Fort McMurray in Alberta on October 24, 2009. At an estimated 175 billion barrels, Alberta's oil sands are the second largest oil reserve in the world behind Saudi Arabia, but they were neglected for years, except by local companies, because of high extraction costs. Since 2000, skyrocketing crude oil prices and improved extraction methods have made exploitation more economical, and have lured several multinational oil companies to mine the sands. AFP PHOTO/Mark RALSTON