How the future of oil and gas in Alberta will affect Calgary's housing market

The plummeting price of oil is unlikely to affect Calgary's housing market in the immediate future, but a prolonged slump could eventually leave its mark on the local landscape, say Canadian economists.

"If the recent slide in oil prices turns down the migration taps, construction activity could begin to soften again in Calgary," said BMO senior economist Robert Kavcic, noting that, in the interim, Calgary's housing market remains red hot.

Once rundown community emerging as residential magnet

* Old neighbourhoods, new Calgary: A look at some of Calgary's earliest communities and how they're evolving with the times

Once home to the city's early elite, the historic community of Victoria Park is back on the map for Calgary homebuyers.

The Beltline neighbourhood has seen resurgence in its housing market this year, with several newly announced high-profile condo developments complementing a dramatic rise in resale activity over the last 10 months.

Understanding how they affect rates, penalties
Pre-payment privileges are the single-most overlooked aspect of a mortgage by borrowers.  Consumers, for whatever reason, seem to gloss over them as if they are a feature of the  mortgage that will never be used.

However, pre-payment privileges are important. They are what allow a borrower to reduce his or her amortization from 25 years to 10 years. They can also affect interest rates and payout penalties, which is why a better understanding of how they work, is important.

Bowness Park partially reopens to public after two-year closure

Two years after being closed for renovations – with some added delay due to flooding in June 2013 – Bowness Park is partially reopen for business.

The City said the entire west side of the park – including the parking lot, picnic areas and a new central square – is now open to the public. The east end of the park will remain closed until next year.

New guidelines aimed at encouraging travel by foot, bike and transit

A new policy approved by council could have more Calgarians ditching their daily drive in favour of greener transportation.

Seen as a way of encouraging Calgarians to travel by transit, bike or by walking, the Complete Streets Policy and Guide is expected to "improve both measurable and perceived safety, provide attractive streetscapes, provide transportation options, improve universal accessibility, promote economic well-being of both businesses and residents, and increase civic space" while reducing the total amount of paved space in the city, said council.