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Impact of oil values felt across the country

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Real Estate Professional | 30 Jan 2015, 09:35 AM Agree 1
Sales reps in Canada’s oil-producing provinces are already preparing for the impact of sinking oil values, but agents on the opposite side of the country are also concerned with what happens out West.
  • Matt Johnston | 30 Jan 2015, 11:18 AM Agree 1
    Slightly misleading title. Here in southern Ontario, I'm not seeing any affect at the moment related to oil prices. I don't expect to either. Chicken Little won't get me!
  • Brad Hawker - Broker - Canmore Alberta | 30 Jan 2015, 11:42 AM Agree 1
    Time will tell where the effects of lower oil prices will be felt but interesting that NB is thinking about it as well as oil producing Alberta, Sask and BC! One thing I would like to see is an environmentally accepteable Energy East pipeline approved to allow for Canadian producers to hopefully be able to get a better market price as most are not trading WTI, they get paid the Select rate which is much lower and puts further financial pressure on ALL those affected.
  • | 30 Jan 2015, 12:08 PM Agree 0
    Ontario has a lot to benefit with lower oil prices. The consumer will save with lower fuel prices, giving more money to spend in the other sectors of the economy. The lower oil price is causing our dollar to plummet, if this trend hangs on we will see more output in our manufacturing industry. This will help create more jobs and build the Ontario economy. Lower interest rates will keep the real estate spark burning, the lower they go, the dollar will continue to drop and keep Ontario very attractive to business. I'm hoping oil drops to the $30 mark and stay's there for years to come. As big as the energy sector may be, it's still only one sector of the economy and not the largest. We were due for a deflation in oil, since in 2000 it was sitting at $12-20 a barrel. Call it the oil bust.
  • EddieN | 30 Jan 2015, 02:29 PM Agree 0
    I am getting quite bored with media and so called experts blabbering on that the drop in oil prices is bad. Yes, it is bad for Alberta and other oil producing provinces and nations. Its bad for the federal government. They all got used to collecting billions in taxes from oil, and not that the free ride is over, they are confused. They need to figure out how to cut waste, eliminate dumb programs and do with less. Wait! I forgot I was talking about government. They will just go borrow more money and then pass on the expense to us in a way of taxes. But let's get back to oil prices. I agree with the other comment that provinces such as Ontario, and the consumer in general, will greatly benefit from lower oil prices. More cash spent on fuel means more money spent elsewhere, inluding the reduction in debt. The dollar is down. Its good and bad, but generally speaking - good.

    And who came up with the ridiculous idea that the drop in oil prices causes causes consumer confidence to faulter? That's just plain dumb! If I am not spending half of my income on gas (the other half is stolen by the government as taxes), then I definitely feel MORE confident then with higher prices.

    Now, let's back up and consider the real reasons for the drop in oil prices - 1. boost consumer spending and confidence worldwide, thus improving faultering economies in europe and elsewhere; 2. prevent ISIS from making a buck from stolen oil that they had been selling off for $30/barrel when prices were higher; 3. bankrupt Russia and kick Putin down to the ground.

    Now, that was my "expert" opinion.
  • M. manes | 30 Jan 2015, 03:26 PM Agree 0
    hold on to your pineapples folks we're in for a helluva blow - the arabs and Esso and Aramco, Rockefellers all, make money at $26.75 U$ per barrel - think about it - they don't wanna eat sand !!!
  • Jackie Laurin | 01 Feb 2015, 02:47 PM Agree 0
    Hear yeh! hear yeh! Absolutely in agreement with all you wrote and happy to see realtors are not only passionate about real estate but the welfare of our country. Well written .. Jackie Laurin, Ottawa
  • Jackie Laurin | 01 Feb 2015, 02:51 PM Agree 0
    Dear Eddy,
    Please do run for politics, our country needs a man/woman with the common sense you wrote here, wherever you are you'd have an excellent rally to put you in our government that looks what's right for "all the people" instead of continuing gouging the tax payer.
    Giving 47cents on a dollar earnt in our industry is outrageous, and how many other burdensome tax payers in other professional industries running out of this country so they can actually keep some of their hard earned dollars.
    Sad, very sad for the majority of CanadiansJ
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