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March 2015 | Issue 111 Cover

March 2015 | Issue 111

Oil slump dampens market forecasts

The plunging oil prices are certainly bringing plenty of gloom in the Calgary housing market, but not everyone is panicking. Some analysts even think the correction may ultimately be healthy for the market in the long run. We cover the possibilities of what the housing market in Calgary and Alberta will look for the year in our annual outlook feature, this time brought to you by CHBA – Alberta with a sidebar on what Calgary developers and builders think will happen in the market this year.

There are plenty of factors at play; lower oil prices will cause a downturn in the local economy, which will probably slow net migration to the city resulting in fewer home sales. However, the surprise lowering of interest rates by the Bank of Canada will support the housing market. Bucci Developments’ Mike Bucci also told us that builders can likely benefit from a lower labour costs that this scenario may bring with savings they can pass on to consumers. But Canadian Home Builders’ Association – Calgary Region President Wayne Copeland warns the weakened Canadian loonie may also hurt their buying power of materials sourced from the U.S. “That’s one factor that we didn’t have during the 2008 downturn, and we just don’t know how much this will affect the market down the road,” he says.

But it’s business as usual in most show homes that we visited for this month’s coverage of the latest and best new home models. We start in the new southeast community of Legacy where we find our cover feature of the month: Innovations by Jayman’s new single-car front attached garage homes. The Exud and The Azul, put simply, are the best way to accommodate single-family living with all the perks at an affordable price, they are a stylish alternative for buyers who might not like the idea of living in a condo but has a budget to stick to.

Next, we have McKee Homes in Ravenswood who are announcing the start of sales of their laned home products in this popular southeast Airdrie neighbourhood. Last but certainly not least is Trico Homes’ newly reopened Fairmont 2 in Beacon Heights in Sherwood.

But New Home Living is more than just homes, we also have a bunch of lifestyle features that help you make the most of life in the city. We have David Crosson giving us a taste of the emerging STYLEs from the International Design Show in Toronto he attended. While Kathy McCormick gives us the low-down on kitchen faucets in her Shopping story.

We also talk about Resolve and the battle to end homelessness in Calgary in our Around Town section. While Marty Hope gives us his take on how the market will unfold this year based on his interviews with experts and told in his own authoritative voice gleaned from decades in the business.
It may be a while before we see the level of new home development activity we saw in previous years, but you can be sure that New Home Living will still be here to show you the best of what help you pick the best one for you.

Pepper Rodriguez
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In This Issue

Modern legacy

Modern legacy

Innovations by Jayman has made a name for itself as a top move-up and starter…

Read more about Modern legacy

Beacon Heights beckons

Beacon Heights beckons

It was a case of being too successful. Trico Homes had such a tremendous response…

Read more about Beacon Heights beckons

Timeless beauty

Timeless beauty

From a one-bedroom condo to million-dollar mansion on a ridge, Legacy has a home to…

Read more about Timeless beauty

Hope at Large: Pump slump

Hope at Large: Pump slump

The oil industry and government at all levels aren’t alone in trying to decipher what…

Read more about Hope at Large: Pump slump

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