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Ron Chalmers, The Edmonton Journal8 b8 c. k* w$ @3 N" x2 V( Z
Published: Tuesday, April 03, 20075 z" Q3 K# K* y- y5 m' O6 g
+ |- m. _/ R% f8 |- B) ?EDMONTON - 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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Leger Marketing surveyed 900 Alberta consumers for PricewaterhouseCoopers, in February, asking about the economy.
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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.! _* r( J+ D+ @ ^0 F5 x) _; B
& W0 v: [/ j$ c9 e" \" _% a! U2 |Is this a good time to buy a house in Alberta?
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No, not according to the sample's composite score of 71, showing significant doubt.
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& R) d5 L/ X! CLeger'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.
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A question about household incomes drew a score of 141, as most people expected incomes to rise.4 F, [5 L$ D2 Y$ K' Z
! H1 g9 x' E$ iThe 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.# j0 J6 U" ]- o
* \" ~7 E- k: v8 N, P9 VThe prospect for future unemployment was highly optimistic at 127 -- although it's hard to imagine how unemployment could fall any lower.$ {* K1 O4 ]) {; \' S o- Z8 ?
) V1 p4 a( v$ `3 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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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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) K8 o9 Z, [: |2 @" [& N! uThe business sample, like the consumer sample, expected interest rates to rise.# Q7 w7 R1 l( L) [1 d1 l! w1 J
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Barry James, PricewaterhouseCoopers' managing partner in Edmonton, urged borrowers to consider the risk of higher rates.7 Q2 w& u0 d" x% S
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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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