I don’t suppose many people caught this little highlight, from Statistics Canada, regarding interprovincial migration to and from Alberta:
The estimates show a slowdown in interprovincial migration for Alberta, a trend that started in the last quarter of 2006. The province, whose population has been booming since the second half of 2004, had a net inflow of +7,400 people in the first quarter of 2007, less than half the net in-migration of +15,600 people observed between January and March 2006.
This slowdown occurred in large part because more people left Alberta for other parts of the country. As a result, net gains from interprovincial migration increased for most other jurisdictions, except for Quebec and Yukon.
British Columbia and Saskatchewan gained population in their exchanges with Alberta for a second quarter in a row.
. . .
Saskatchewan’s population rose 0.23% as it continued to receive people from Alberta. Saskatchewan recorded its highest first-quarter interprovincial migration net gains since 1976.
You read it right - interprovincial migration, during the first quarter of this year, was just half of what it was one year ago. That’s definitely going to weaken demand for housing.
Why is this happening? People are leaving Alberta as they are priced out of the housing market. I know quite a few people who are cashing out and moving to Saskatchewan and B.C..
You should see the neighbourhood of Grandin - there are for sale signs everywhere.
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Doubting Thomas 08.20.07 at 11:29 pm
I know at least six Saskites that have hied back to the land of potash and potholed roads. High cost of living in Calgary is the reason cited. Six does not a trend make.
Tom
islandgrovepress 08.22.07 at 8:08 am
Just a comment on a post of yours a few months back.
You were so right-on in predicting a near-collapse of the mortgage market in the U.S.
…And well ahead of the recent New York Stock exchange panic.
Keep up the good work.
Ivan
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