Calgary's trusted source of real estate news, advice and statistics since 1983.
Stories Tagged - national energy program
News
May 06, 2021 | Alan Tennant
My First Home: Alan Tennant, CREB® CEO
By CREB® CEO Alan Tennant (as told to Terence Leung)
I remember being 23 years old. The year was 1981. I was a Medicine Hat banker with my new wife, Rona, and a new job in Calgary, staring down a brand-new, three-bedroom, one-bathroom bungalow. Oh, and a mortgage to pay.
We had two cars (with no garage to put them in) and no way of knowing that four years later, mortgage rates would hit a whopping 18 per cent.
We asked the question many people do now when they contemplate their first home purchase: can we afford it?
I remember being 23 years old. The year was 1981. I was a Medicine Hat banker with my new wife, Rona, and a new job in Calgary, staring down a brand-new, three-bedroom, one-bathroom bungalow. Oh, and a mortgage to pay.
We had two cars (with no garage to put them in) and no way of knowing that four years later, mortgage rates would hit a whopping 18 per cent.
We asked the question many people do now when they contemplate their first home purchase: can we afford it?
News
Dec. 21, 2016 | Cailynn Klingbeil
55 Years of Calgary Real Estate: 1985 CREB® President Jim Moore
Current economic challenges harken back to past president's term
The early 1980s in Alberta were a memorable and challenging time for anyone who lived through them.
Characterized by a severe global recession, widespread housing foreclosures, bankruptcies and unemployment, by the time Jim Moore was president of the Calgary Real Estate Board in 1985, market conditions remained difficult but some changes were afoot.
The early 1980s in Alberta were a memorable and challenging time for anyone who lived through them.
Characterized by a severe global recession, widespread housing foreclosures, bankruptcies and unemployment, by the time Jim Moore was president of the Calgary Real Estate Board in 1985, market conditions remained difficult but some changes were afoot.
News
Dec. 21, 2016 | Cailynn Klingbeil
55 Years of Calgary Real Estate: 1988 CREB® President Jerry Roberts
1988 CREB® president Jerry Roberts recalls Winter Olympics arriving at the right time for Calgarians
Like many Calgarians, the first thing Jerry Roberts remembers about 1988 was the Winter Olympics.
The international sporting event transformed Calgary, as 1,423 athletes from 57 nations competed in 46 events over 16 days in February 1988.
But perhaps more importantly, it put Calgary, then a city of 675,000 and the first Canadian city to host a Winter Olympic Games, on the world map, said Roberts, who was president of CREB® that year.
Like many Calgarians, the first thing Jerry Roberts remembers about 1988 was the Winter Olympics.
The international sporting event transformed Calgary, as 1,423 athletes from 57 nations competed in 46 events over 16 days in February 1988.
But perhaps more importantly, it put Calgary, then a city of 675,000 and the first Canadian city to host a Winter Olympic Games, on the world map, said Roberts, who was president of CREB® that year.
News
Nov. 19, 2016 | Cailynn Klingbeil
55 Years of Calgary Real Estate: 1981 CREB® President Kent Lyle
Former CREB® president Kent Lyle remembers impacts of National Energy Program like it was yesterday
It's perhaps the most contentious three words in Alberta's history: National Energy Program.
The early 1980s in the province are synonymous with the controversial federal initiative, which redistributed Alberta's oil wealth and, in turn, lead to a regional recession that few have since forgotten.
It's perhaps the most contentious three words in Alberta's history: National Energy Program.
The early 1980s in the province are synonymous with the controversial federal initiative, which redistributed Alberta's oil wealth and, in turn, lead to a regional recession that few have since forgotten.
News
Aug. 08, 2016 | Cailynn Klingbeil
55 years of real estate: 1990 CREB® president John Fraser
Former CREB® president John Fraser recalled new sense of hope in 1990 after decade of challenges
A fresh start: that's how many viewed 1990, recalled then-CREB® president John Fraser.
"We had just come out of an extremely difficult period," he said, referencing a decade defined by the National Energy Program, soaring interest rates and growing unemployment in the province.
"In about the mid '80s, things started to improve. And by about 1990, if you can believe it, almost 10 years later, we were almost back to where we were in 1981 in terms of house prices."
A fresh start: that's how many viewed 1990, recalled then-CREB® president John Fraser.
"We had just come out of an extremely difficult period," he said, referencing a decade defined by the National Energy Program, soaring interest rates and growing unemployment in the province.
"In about the mid '80s, things started to improve. And by about 1990, if you can believe it, almost 10 years later, we were almost back to where we were in 1981 in terms of house prices."
News
June 30, 2016 | Cailynn Klingbeil
55 Years of Real Estate: 1989 CREB® Past President Greg Houston
Former CREB® president Greg Houston remembers 1989 as the year it all started to turn around
The boom came back.
After a lengthy slump in the early 1980s, Calgary's real estate market began a resurgence in 1989 – and not a moment too soon, recalls Greg Houston, who was president of CREB® that year.
"1989 was a great year," he said. "Things were looking up. There was stability in the business, after years of foreclosures and people declaring bankruptcies. As far as I was concerned, things were finally turning around."
The boom came back.
After a lengthy slump in the early 1980s, Calgary's real estate market began a resurgence in 1989 – and not a moment too soon, recalls Greg Houston, who was president of CREB® that year.
"1989 was a great year," he said. "Things were looking up. There was stability in the business, after years of foreclosures and people declaring bankruptcies. As far as I was concerned, things were finally turning around."
