titanic
remembering the past
snapshot
Exhibition sails into Calgary with a collection of historical artifacts
City designates three historical sites in celebration of unique character and history
Can you identify this Calgary landmark?
arts A8
heritage A11
where am i? A10
FREE jan 28 to feb 3 2010 issue 01-02 www.creb.com
local recovery slow and steady Employment growth, consumer confidence to drive Calgary’s economy CREB® Staff
T
he key sentiment of the local economy’s expected recovery in 2011 will be long, slow and steady, according to a State of the Economy report released earlier this month by Calgary Economic Development. “For Calgary, a couple of primary factors – continued, depressed natural gas prices and the laggard economy in the United States – have been a constant headwind, creating drag on the vehicle,” said the report. “At the same time, lagging confidence from consumers and businesses has meant pressure on the gas pedal has been weak, particularly as bends in the road appear.” Despite this, there is reason for some optimism with the recovery of oil prices, stronger indicators of foreign direct investment and commercial real estate absorption rates. Moderate employment growth, labour income growth and increased consumer confidence will drive increases in gross domestic product in the region by 3.3. per cent in 2011. The report’s projections include the following in 2011: • Unemployment rate of between 5.2 and 6.2 per cent, • Employment growth of 1.6 per cent, • Inflation at 2.5 per cent. Employment numbers for Calgary have bounced monthly between growth and contraction in 2010. The unemployment rate decreased from 6.9 per cent in November 2009 to 6.1 per cent in November 2010, which can be attributed to the rebounding economy, according to the report. Calgary’s economy has gained 3,500 jobs (a 0.5 per cent increase) since November 2009. “Through the last half of 2010, local employment numbers continued to recover from the losses experienced throughout the recession,” said the report.
economy A3 Average vacancy rates in the downtown market have increased in 2010 from 12.6 per cent in the third quarter of 2009 to 14.5 per cent in the third quarter of 2010. cody stuart, CREB® Staff
MLS AVERAGE DAYS ON MARKET* ®
61 62
SINGLE FAMILY HOMES – CALGARY METRO
59
Tax Credit Costs Less CREB® Staff
52
51
50
48 45 44
47 43
42
40
41
42
52
50
52
45
43 39
33
DEC08 JAN09 FEB09 MAR09 APR09 MAY09 JUN09 JUL09 AUG09 SEP09 OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10
34
36
38
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Carrie Peddie 403-836-1399
169 COOPER’S PARK
RE/MAX Real Estate (Central)
...To A
Airdrie
news briefs mortgage rates Zone mapS listings
zone a
inner city
zone c
zone b
zone d town & country commercial
open houses
$1,087,000
MLS®C3457742
A3 A10 B1 A13 A13 B2 B4 B7 B9 B11 B15 B15
207 APPALOOSA LANE
• Cooper’s Estates • Executive living • On-site cherry hardwood flooring • 18’ stone fireplace • Fully developed • Backing green space
www.CarriePeddie.com
.. oving. M ! p ...Kee irdrie
C
anada’s Home Renovation Tax credit cost the federal government less than was budgeted. Introduced by Federal Finance Minister Jim Flaherty in the 2009 budget to stimulate the economy, the measure cost Canadians $2.27 billion less in taxes. Original estimates by the federal government budgeted $3 billion for the temporary tax credit or about 4.6 million households that would claim the credit. Under Canada’s Economic Action Plan, the initiative was a 15 per cent non-refundable tax credit applicable to eligible labour and material home renovation costs. The tax credit was not extended into the 2010 federal budget.
contents
• Yankee Valley Estates • 2.03 acres • 2736 sq. ft. of living space • Gourmet kitchen • 3 bedrooms • Den + bonus room
$879,900
Committed to Excellence... Driven By Results!
MLS®C3452548