Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years

Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years (ZeroHedge, Jan 14, 2015):

For the 2nd month in a row, home prices in Calgary – corporate hub of Canada’s oil industry – have fallen. This is the biggest 2-month-drop in almost 2 years (and comes on the heels of yesterday’s news that Suncor is slashing jobs and capex). As Bloomberg reports, Bank of Canada Deputy Governor Tim Lane said yesterday development of the more expensive deposits are threatened by lower crude oil prices. “The dive in energy prices will put pressure on house prices in the Western provinces in the coming months,” warns one economist and as the following chart shows, more pain is likely...

 …

Leave a Comment