While I don’t expect the Alberta economy to suffer the same fate, here is what I’m expecting in this category.
Ontario, Quebec for sure will suffer from an inflated unrealistic housing bubble price.
So too will Vancouver and surrounding areas.
If other provinces do have high prices that are not inline with logical realistic economic policies when interest rates are normally higher, then they too will suffer to varying degrees the impact of housing price crashes. Whether that is with a thump, bang, thud or what the hell just happened, you can rest assured that people will be upset.
And then Alberta will face even more pressure from ex-home owners who walk away, default and exit their provinces for the golden goose economy.
At worst, Alberta may just have a stalled housing economy. Oil prices may have to come inline with the new reality.
Bank of Canada heads up – Mr. Carney
Start raising interest rates slowly to bring them up to a more reasonable level so that they maybe adjusted accordingly in national economic policies. No sense keeping our heads in the sand and pretending it ain’t gonna happen. Sooner or later rates have to go up. While it may make exports less attractive due to a raising loonie, a stronger economic long-term vision is needed in the face of all the other global stalwarts around the planet. Waiting will only make matters worst.
And adding insult to injury in this case, all the major lending institutions and banks are in a circle of conspiracy when they know full well what’s ahead on the housing prices horizon. They’re in the mortgage lending business and have analysts up your Yin/Yang crunching numbers day & night practically. No one can convince me that banks will be caught by surprise when this happens.
Live~NRGY 
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