More fiction than fact in riches-to-rags tales of Alberta in crisis

Posted on Posted in Money and Financing, Real Estate Market

You mean Alberta’s (and Edmonton’s) future might not be so dire as the media makes it out to be?

It was a catchy sound bite, but patently untrue.

Despite Alberta’s fat budget surpluses and high personal incomes, most national wealth surveys showed Vancouver and Toronto were the richest cities in Canada, and that hasn’t changed.

A recent study by Pitney Bowes Business Insight confirms that real-estate-rich Vancouver is still Canada’s wealthiest city, followed by Toronto, Calgary, Victoria and Oshawa. Edmonton ranks ninth, just behind Kitchener.

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