A closer look at ATB economic outlook

With the province now halfway through a thus-far turbulent year, ATB Financial has released its economic outlook for the forthcoming third quarter.

Providing "the most up-to-date portrait of the province's economy" and ATB's best estimate of what we can expect for the remainder of this year, the latest outlook shows that, at the very least, this year won't be the worst economic year in our recent history.

"While some forecasters continue to call for a recession in Alberta, ATB Financial remains confident that our province will see some growth this year (albeit small)," said ATB economist Nick Ford." But despite the differences in opinion, all of the major forecasts for the province have one thing in common; economic expansion is expected to hover around zero per cent this year."

Calgary inventory levels ease

Despite the 18 per cent year-over-year decline in June home sales, for a total of 2,183 units, transaction levels remain only five per cent below the 10 year average for June and three per cent above levels over the past five years.

"We've seen less concern from consumers lately," said CREB® president Corinne Lyall. "One of the main reasons is that we haven't seen the worst case scenarios play out in the energy and housing sectors.

"Consumers who were waiting for wide-spread price declines have been surprised to see that it just hasn't happened yet, and so they've decided to take advantage of the improved selection and lower lending rates.

Communities of Bowness, Montgomery retain small town charm, big city amenities

Nestled along the Bow River in the city's northwest, the communities of Bowness and Montgomery each enjoy storied histories dating back to the turn of the 20th century.

Even today, their modern-day transformations from towns to neighbourhoods are far from complete, with ongoing development redefining expectations of life in Calgary.
Before the First World War, Bowness was a "suburb perfect" vision of Englishman John Hextall, the visionary behind Bowness Park.

A look at Calgary's development and off-site levies

Hopping in the shower or flushing the toilet is going to take its toll on Calgarians' wallets in coming years.

Calgary's current model for development levies is set to recover 50 per cent of the cost of water drained from your tap or toilet. Storm water is 100 per cent covered by developers.

Yet that's not sustainable for utilities coming to the city down the line – in the form of a $14-million shortfall for new water and sewage infrastructure this year.

Calgary's fledgling communities have plenty to offer

Calgary's growing list of new communities is providing a haven for buyers looking for a little bit of everything.

According to last year's civic census, nine of the city's fastest-growing communities are located in new areas, led by Saddleridge in the northeast, which saw 2,373 residents move within its borders in 2014.

It was followed by Auburn Bay (2,242), Cranston (1,858), Skyview Ranch (1,759), Evanston (1,704) and Panorama Hills (1,384).

Simmons Building now open to public

Calgarians had their first opportunity to break bread at East Village's long-anticipated Simmons Building last week.

The grand opening celebrated three local food and beverage brands – Charbar, Phil & Sebastian Coffee Roasters and Sidewalk Citizen Bakery – and furthered the completion of what's being dubbed Calgary's "oldest, newest community."

New report shows energy uncertainty creating options for buyers

For Calgarians looking for a new home, the financial cloud hovering over the province's oil patch may have a silver lining.

According to RBC's latest Housing Trends and Affordability Report, homes in the city became more affordable during the first quarter of 2015.

The bank's index, which measures the percentage of household income required to service the price of owning a home, showed costs in Calgary fell across all housing types in 2015.

Calgarians drawn to more affordable alternative

After living in southwest communities of Midnapore and Evergreen for 27 years, transitioning to an apartment in Mission was an easy decision for Michelle Norman.

"Condo living was a very easy adjustment," she said. "I like the idea of being surrounded by a good mix of young and older residents as well as not having to worry about such things as yard work and snow removal."

Market sees rise in vacancies, rents

Calgarians looking to find rental housing have been treated to more selection in recent months.

According to a report from Canada Mortgage and Housing Corporation (CMHC), Calgary's vacancy rate in April stood at 3.2 per cent. The number is more than double the rate seen last April, when CMHC reported Calgary vacancies at just 1.2 per cent.
Across Alberta's urban centres, the rental apartment vacancy rate was 3.4 per cent in April 2015 compared to 1.8 per cent in April 2014, according to the report.

Acreages and rural living provide room for growth, sense of community

Alberta's come a long way from its historical roots of buffalo herds and settlers.

More than 600,000, or 17 per cent of, Albertans lived in rural populations in 2011, according to Statistics Canada. That's a far cry from 75 per cent who lived rural rather than urban in 1901.

Yet a pioneering spirit still remains throughout the province, said Alberta Agriculture and Rural Development Minister Verlyn Olson.