Calgary housing market to stay strong

The 2006 Real Estate Investment Network report- despite skyrocketing property values –Calgary remains one of the most affordable cities in the country, based on housing prices compared to average incomes. Only Ottawa, Atlantic Canada and Saskatchewan are rated more affordable. REIN says Calgary’s housing market will stay strong in the years to come. Here is their list Top 11 reason:

No.11: Average incomes are increasing faster than the provincial average.
No.10: Population is growing faster than the provincial average.
No.9: Businesses are creating jobs faster than the provincial average.
No.8: There is more than one major employer in the city.
No.7: Is in the RBC Affordability Index Hot Zone of 25 %to 39 %( 36.2%).
No.6: Calgary will benefit from an economic or real estate ripple effect.
No.5: Political leadership has created an economic growth atmosphere.
No.4: The Economic Development Office is progressive and helpful.
No.3: Major transportation improvements are underway.
No.2: Calgary suits baby boomer life style.
No.1: Increase in labour and material costs in the area.