A new study indicated that spending habits in Saskatchewan were almost triple that of the national average in 2007-2008. I do believe this had something to do with Sasktaoon home owners and Saskatchewan home owners in general finding a new found wealth when their existing houses in Saskatoon essentially doubled in value.
Some of this spending had to do with earning better wages, but a lot had to do with over-exuberance and the negative world market didn’t seem to affect us here until December 2008.
The tallies for 2009 have not been finalized yet but it is the belief that most people held off on the over-spending once the reality of the global economic crisis hit home. During 2007-2008 it appears Saskatchewan consumers were the only ones in Canada who weren’t sitting on their wallets. As a Saskatoon realtor I saw this evidence with my many people looking to buy a house for sale in Saskatoon who were looking to buy 2nd properties for sale in Saskatoon as revenue.
While some of the people spent their money wisely on new houses for sale in Saskatoon or to use the equity from their existing homes in Saskatoon to buy condos for sale in Saskatoon or revenue properties for sale in Saskatoon, there were a lot of low income people younger people who spent their money on things like vehicles and tvs instead of on something with some return, such as a mortage in Saskatoon. It seems the other group was young families with relatively high incomes who were purchasing houses for sale in Saskatoon within their appropriate price range.
I can say that I helped many people buy houses for sale in Saskatoon during that time frame and most had the right idea. If you are looking to buy a house for sale in Saskatoon let me know as I would love to help you with your Saskatoon real estate experience!
Kari Calder
Saskatoon Century 21 Conexus Realty Ltd
Saskatoon, Sk
653-8222