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April 2015 | Issue 112 Cover

April 2015 | Issue 112

Spring is in the air

Aahh… spring, finally. Not that it’s been a bad winter. Actually, the weather’s been pretty kind to Calgary this past season, and if it wasn’t the constant threat that the sky was going to fall on the city because of plunging oil prices, I’d say this past winter was really good.

But with regards to those news articles looking at the dark side of things, how about we put some perspective in the current economic situation.

Numbers put out by the Canadian Home Builders Association point out economic fundamentals in Calgary today are almost the same in 2005 when everything was coming up roses.

In February 2005, oil prices were $47.96 US per barrel; the Canadian dollar was $.805/US; the Bank of Canada’s overnight rate was 2.5 per cent; the prime rate was 4.25 per cent; a five year fixed rate mortgage was 5.59 per cent; it cost $1,846.92 per month for a $300,000 mortgage at 5.59 per cent rate and a 25 year amortization; the population of workers in Fort McMurray camps was about 10,000.

We were in an economic BOOM!!!

Now fast forward to February 2015. Oil prices are $52 US per barrel; the Canadian dollar is $.8033/US; the Bank of Canada’s overnight rate is 0.75 per cent; the prime rate is 2.85 per cent; a five year fixed mortgage rate is 2.79 per cent; it costs $1,387.31 per month for a $300,000 mortgage at 2.79 per cent rate and a 25 year amortization; the population of workers in Fort McMurray camps is about 44,000.

All the doom-and-gloom talk needs to be balanced out, and this puts some perspective on things. Thanks, Allan Klassen, President of Albi Homes, for pointing that out to us.

Interestingly enough, our community feature on Watermark at Bearspaw in this issue reflects these numbers, as this master planned estate community along Calgary’s northwest border has been doing spectacularly in sales in spite of the slowing economy. Our cover feature of Lifestyle Homes’ show home in Airdrie’s Cooper’s Crossing is also seemingly immune to the malaise and is attracting good traffic. Calbridge Homes’ new Foothills Hospital Lottery grand prize show home is bringing in a lot of interest to the charity and to the community of Artesia, as well. And Wolf Custom Homes does the same with their impressive executive style show home in Watermark.

We have even more special features inside that talk about Calgary’s uniqueness and underlying beauty and the strength of the community, which ultimately is the biggest asset against all the gloomy talk.

Pepper Rodriguez
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In This Issue

Comfort and quality

Comfort and quality

For 18 years, Lifestyle Homes has perfected the approach to creating the most stylishly pleasing…

Read more about Comfort and quality

Howling success

Howling success

Estate homes built with finesse and eye-catching style are the norm in the master planned…

Read more about Howling success

The winner’s circle

The winner’s circle

Residents in the quickly developing estate community of Watermark at Bearspaw must feel like they’ve…

Read more about The winner’s circle

Winning style

Winning style

Quality craftsmanship has been the hallmark of Calbridge Homes in the 37 years they’ve been…

Read more about Winning style

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