CMHC Outlook for Q1 of 2011

CMHC issued their housing outlook for 2011 for the first quarter. They expect housing prices to stabilize and then rise slightly this year. This is good news for anyone who has a property they bought at the peak of the housing boom as prices return to what they were at the time of their purchases.
Anyone who wants to renovate will now have more equity in their homes to pull out in a line of credit to finance these projects. Lines of credit are a great way to finance projects or purchases using low interest loans.
Here is an overview of what CMHC had to say about Alberta's economy

Overview
The recovery of oil prices is providing a welcome boost to the Alberta economy. Provincial crown petroleum and natural gas rights were auctioned at record values in 2010, which will lead to higher drilling and energy exploration in 2011. Investment in oil sands projects will also continue to grow, accelerating economic growth in Alberta. The natural gas industry will continue to be impacted by a low price environment and its contribution to the economy will be muted until prices move higher.
In 2011, employment growth in Alberta will recover and exceed the peak level of employment reached prior to the economic downturn. Improved labour market conditions will move the unemployment rate lower and draw more people to Alberta.
The turnaround of interprovincial migration flows in 2010 should continue over the forecast period, as Alberta’s labour market attracts more migrants in 2011 and 2012. International migration will remain elevated over the forecast period. Total net migration to Alberta is projected at 31,450 in 2011, then rise to 34,100 in 2012. Overall, migration patterns are expected to support housing demand in Alberta.