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The last time Canadians have seen a bank rate of 1.50% was actually July of 1955 but in August, 1958 the bank rate was 1.51% so that was pretty close. The bank rate is now lower than it was during the 1930's when it sat at 2.5% for 10 years. (Source: Bank of Canada, Department of Monetary and Financial Analysis) The Bank of Canada has now admitted a recession and all eyes are on stabilizing the economy rather than target inflation rates. Policy over rate cuts has drastically changed since the... Read Full Post

Yes I am a real estate blogger but I thought it important to mention the attacks that have happened in Mumbai, India. My concern is for the people who have lost loved ones, been injured or have witnessed others being killed. I think that when terrorists strike in such random attacks we should all be traumatized. Is this something that we are going to begin to witness more and more of? When we look back in time we see that great recessions have typically ended with war. Yes there are already w... Read Full Post

Since my latest blog about Alberta's economy it has been announced that the Albera government will rollback the royalty increases in Albert to stimulate projects in our energy sector. I thought that I would post this article from The Toronto Star to explain this announcement. In my previous post I looked at Calgary's economy and had suggested that with dwindling oil prices we have yet to see the fall out of the economic crisis. I also mentioned that Alberta is in a strong position to stimulat... Read Full Post

I am sure that we have all been watching the markets in the recent weeks. With massive bailout packages being announced by all of the world's largest economies and banks declaring bankruptcy it is something unlike any of us have ever seen. The roller-coaster that is the stock market right now has somewhat taken our eyes off of the current state of the real estate market. When looking at the Calgary Real Estate market we see for the first time in over a year a declining inventory. While we sti... Read Full Post