Foreclosures are up in Alberta, by about 54 percent from the 2 years prior.
And the spike in foreclosures is being blamed on joblessness and debt. Seems reasonable. With the amount of people on employment insurance right now, paying a mortgage is tough, sometimes impossible.
It’s the jingle mail days of the 1980’s back to haunt us again, when so many people were mailing their keys back to the banks during Trudeau Senior’s national energy program that the mail in Alberta was said to jingle.
Except this time it isn't the national energy program being foisted on us by the feds against our will. It’s carbon taxes from right here in Alberta, crazy regulations and additional business costs that make job creators pass over Alberta.
You know what could turn this sour stalled out economy around? One single pipeline.
A year ago North Dakota was in the same place as us here in Alberta. They had a busted oil economy with a crisis in their real estate market. North Dakota had a pipeline that was protested and opposed by environmental NGO busybodies and their useful idiots in the Hollywood left wing protest movement and the federal government was listening to the NGOs instead of oil and gas experts and economists.
Sounds familiar, right?
Then Trump happened. He ignored the protests and signed an executive order restarting DAPL which brought the Dakota Access Pipeline to completion just 3 months later. Now, just 8 weeks after the first oil flowed through line, North Dakota is seeing a boom time and DAPL isn't even at capacity yet!
But Notley and Trudeau aren't going to change course. They actually think social license - trying to satisfy the SJW crocodile so it eats you last - is a legitimate way to govern. And things are going to get even worse for us here in Canada. The more stable the US looks for investors, the less investment we will see in Canada.
Until things change in Canada, the mail will keep jingling but our pockets won't.