Despite the beating the economy has been taking, the housing market is slowly rallying. For the second consecutive month, real estate sales have improved in Alberta. That's partly due to numbers coming out of Calgary and Edmonton. Even with those gains, however, activity is nearly 3% lower than at the same point last year.
The oil industry continues to take a beating. Corporate news sites have been heating up with information regarding the current state of the oil industry in Alberta whose arms have far-reaching effects on other areas of the economy. The industry has always had its ups and downs, but analysts say the financial strain caused by the current global climate is leading the the industry into uncharted, dangerous waters.