Don Campbell from the Real Estate Investment Network is one of my mentors. We have been a member of his group for almost four years and he has taught us plenty. Recently he was quoted in an article in the Canadian Real Estate Magazine.
“For those worrying that the Canadian real estate market is in a bubble ready to burst and unleash a U.S. style financial collapse, it’s time to do some economic homework. What the sceptics are missing is that today’s global economic uncertainty has positioned Canada as a “safe haven” for international investors looking for a secure place to store their wealth.
Situations, such as the tsunami and nuclear disaster in Japan, rising tensions in the Middle East and North Africa, and the mounting debt crisis in Europe, along with a slow wobbly U.S. economic recovery, have many investors rushing to put their capital into Canadian Real Estate.”
Campbell speaks of the 3 F’s Canada offers besides stabillity – they are Food, Fuel and Fertilizer. “Canada is uniquely positioned to provide the world with the three F’s and our supply chain is safe. The inflation in these commodities will drive prices upwards and boost jobs into key areas of the country, which in turn will lead to migration of people to these regions, driving real estate and rental demand upwards.”
Campbells says “The growing demand for oil and natural gas sector means more jobs and more government revenue, which means more investment in social programs such as education and health care.”
Saskatchewan alone is expected to produce jobs of between 75,000 to 90,000 over the course of the next five to ten years according to Rob Norris, Advanced Education Employment and Immigration Minister.
“All this translates into more overall economic growth. Canada’s gross domestic product shoulld reach 3.3% in 2011” predicts Campbell.