We all realize that the Edmonton economy and land business sector is influenced by the cost of oil.
Well here is some sustenance for thought.... Quite recently the cost of oil was around that $100/barrel mark.... Yet remember about the same time the Canadian dollar was comparable to the American dollar.
With the cost of oil being at $52.78 USD/Barrel that is equal to $65.72 CDN/barrel.
Furthermore, the oil market does not straightforwardly influence the destiny of the Edmonton real estate market. Amid the 1980s oil emergency, the biggest shopping center in North America was constructed – the West Edmonton Mall.
Much the same as then, the Edmonton housing sector keeps on growing. The present oil emergency will do nothing to stop the housing market's development and we unquestionably won't be seeing a drop like the 2007 retreat. Edmonton real estate business sector is stronger than you might suspect.
HOW IS THAT FOR PERSPECTIVE!
Do check out our complete list of available Edmonton homes for sale on our new Edmonton MLS listings.
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