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Ron Chalmers, The Edmonton Journal+ n0 m8 o7 s) x
Published: Tuesday, April 03, 2007- {; M1 x( U$ ~; @. @
! ]$ [( m. ^- ?& SEDMONTON - Most Albertans think this is a bad time to buy a house -- but a good time to buy major household items.
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: U' B6 U' R9 F+ r4 R) ELeger Marketing surveyed 900 Alberta consumers for PricewaterhouseCoopers, in February, asking about the economy./ ^4 t; p5 h' H& L" ]; ]' S
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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.- i. E) X/ z& L& L
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Is this a good time to buy a house in Alberta?
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/ f* Z# N5 u; p* ]& x, WNo, 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."
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When asked specifically about interest rates, the sample scored 66, with a widely-shared belief that rates will rise.2 B. K+ _: b, m, P) @/ t& W
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A question about household incomes drew a score of 141, as most people expected incomes to rise.* `- B( }1 C9 ]0 K& M+ P
4 h2 z- m6 y9 d$ M/ }9 |( G2 m4 sThe 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.- q+ F' S( ^ n2 J4 z+ o
& \( u Y) G' V/ e: D7 o7 U" LThe prospect for future unemployment was highly optimistic at 127 -- although it's hard to imagine how unemployment could fall any lower.# a/ G% p+ p, e t" }* w
& q" ~) y! S& pA 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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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."
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The business sample, like the consumer sample, expected interest rates to rise.
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9 R2 a4 M1 I' p* dBarry James, PricewaterhouseCoopers' managing partner in Edmonton, urged borrowers to consider the risk of higher rates.
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"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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