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Ron Chalmers, The Edmonton Journal4 }9 I6 \3 o2 V- I m) r
Published: Tuesday, April 03, 2007. F* q. @1 Q% d3 ]6 r) t1 D
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EDMONTON - Most Albertans think this is a bad time to buy a house -- but a good time to buy major household items.+ x) r5 X" l& P) T0 W8 x" q6 d
) ^6 {/ r: v6 f3 l$ YLeger Marketing surveyed 900 Alberta consumers for PricewaterhouseCoopers, in February, asking about the economy.
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9 B% O7 R# \+ c; N8 o3 ?Responses were compiled on a 200-point scale, with scores above 100 indicating optimism that conditions are good or will improve, and lower scores revealing pessimism that conditions are bad or will worsen.6 K5 a- P5 J# M/ j% R& N: Q
& U9 g" A. X3 X4 ]. k" SIs this a good time to buy a house in Alberta?
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2 U& [9 r1 t! `& m: J# r4 nNo, not according to the sample's composite score of 71, showing significant doubt.
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Leger's report noted "the relatively pessimistic sentiment regarding interest rates, combined with the fact that the housing market in Alberta has boomed over the last two years."' m+ W9 l% K% z2 X% N( H
5 h! Z- g- B- Q N0 I% u" O% o, \When asked specifically about interest rates, the sample scored 66, with a widely-shared belief that rates will rise.
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A question about household incomes drew a score of 141, as most people expected incomes to rise.& u: s: l5 R+ h0 P
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The sample scored 161 -- overwhelmingly affirmative -- when asked whether this is a good time to buy major household items "reflecting the fact that many Albertans are experiencing unprecedented levels of disposable income," the report said.
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The prospect for future unemployment was highly optimistic at 127 -- although it's hard to imagine how unemployment could fall any lower.: t+ O7 P' D% a6 b
9 h( D6 \6 ?3 q6 vA related online survey of 420 Alberta business leaders similarly found optimism about fiscal conditions, current and future business conditions, and future unemployment -- all pushed by "the hot Alberta economy," the Leger report said.
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1 v, F2 f# H) E& R4 n% OAmong those several measures, it found that fiscal expectations were the least positive, "which may be attributed in part to the fact that Alberta has a new premier in place, creating uncertainty in relation to fiscal conditions if compared to the previous Klein administration."# P r( ?2 b: K/ Q( T+ m) [
, `/ m0 h7 P' K3 I2 GThe business sample, like the consumer sample, expected interest rates to rise.% d4 z% F/ Y3 f. l
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Barry James, PricewaterhouseCoopers' managing partner in Edmonton, urged borrowers to consider the risk of higher rates.
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5 u7 V! U( M1 u3 p# z"If you're going to make a large spend, ask yourself what one or two or three more points would cost," he suggested. |
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