CREB^®'s annual Forecast real estate event returns on Jan. 26, 2021 with an all-new virtual format. So, grab your ticket, put on your headset, and get ready to immerse yourself in a one-of-a-kind real estate experience.

Apartment sector prompts optimism for buyers

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."

Speaking as part of Calgary Economic Development's (CED) 2016 Economic Outlook, Bank of Canada governor Stephen S. Poloz laid out his forecast for Canada's economy in the upcoming year.
With more than 1,500 on hand for the presentation, Poloz touched on some of the factors that have seen Canada's economy get off to a less-than-stellar start this year.
CREB®Now takes a look at some of the key points from CED's outlook.

GDP
Having seen two consecutive quarters of GDP decline, Canada's economy currently fits the definition of being in a recession. Looking forward, TD forecasts call for an annual growth rate of
1.2 per cent in 2015, followed by two per cent gains in 2016 and 2017.

Employment
Speaking on downsizings in Calgary's energy sector, CED president and chief executive Mary Moran said more layoffs should be expected, calling it the most challenging time for the city since the mid-1980s. ATB economist Todd Hirsch has predicted unemployment rate in the province could reach 7.5 per cent, which would be the highest rate seen since 2009.

Today was CREB's economic outlook for 2015 taking a look at all things housing and economy for the year to come. Here's some quotes from keynote speaker Kevin O'Leary, CREB chief economist Ann-Marie Lurie and more.

Read more about the outlook on CREBnow on Friday.