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Ron Chalmers, The Edmonton Journal
$ c) |, e+ X: J d' A$ RPublished: Tuesday, April 03, 2007
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1 [) z# E9 [8 h9 t3 m4 q- TEDMONTON - Most Albertans think this is a bad time to buy a house -- but a good time to buy major household items.9 f' H% x9 k+ m# h% y
: x( o1 c: s1 t( W6 M3 L1 I# tLeger Marketing surveyed 900 Alberta consumers for PricewaterhouseCoopers, in February, asking about the economy., c" L9 E5 a) q1 i2 R/ k
; h) X! {( o$ W$ ]3 w. W6 R# \0 X6 TResponses 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.9 T2 w! e9 N+ w4 k5 J( R
4 Y# v' i( b1 e LIs this a good time to buy a house in Alberta?
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: X2 w! R- J' u5 D9 ~: H& r9 i* JNo, not according to the sample's composite score of 71, showing significant doubt.; f) w- S2 _+ V
$ x" x5 W4 W. |1 KLeger'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."
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When asked specifically about interest rates, the sample scored 66, with a widely-shared belief that rates will rise.! @' m7 i. i# U) N; h( S! X5 O- ^
6 J4 @9 W3 B' r: z" L. t* nA question about household incomes drew a score of 141, as most people expected incomes to rise.
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( o5 |# F! _) c& P4 Y- \6 vThe 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.: i% ^+ `7 s- c) c& g
9 ?! h- K" }& Z9 vThe prospect for future unemployment was highly optimistic at 127 -- although it's hard to imagine how unemployment could fall any lower.1 A3 h `- C5 y0 `* L, }
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A 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. ?" K1 X( o+ O+ A
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Among 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.": n! B; f# d- w" C9 w* C% l- ^
+ L# \5 Z5 T: ~# mThe business sample, like the consumer sample, expected interest rates to rise.) t( e1 o6 R& B
1 A2 W! j. l! i5 s$ w" t! `Barry James, PricewaterhouseCoopers' managing partner in Edmonton, urged borrowers to consider the risk of higher rates.
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5 [2 c3 p* k: D s6 X* b"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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