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Oil industry changing residential real estate picture in Alberta

The oil industry has had its ups and downs, but oil has always been one of the primary commodities in Alberta. It's not surprising that this has had some effect on other areas, including residential real estate sales. The economy works like a machine -- when all parts are oiled, the entire system runs smoothly. So, when the oil industry took a few major punches, the entire province felt the pain.

The workers who made the trek west headed back east when things dried up. Those who purchased homes put them on the market, and those who rented vacated their homes, and no one felt settled about the economy. But that has changed. Things are looking up again. Workers have been learning new skills and trades due to the changes in the gas and oil industries.

There was a more than 18 per cent increase in mining jobs in Alberta at the beginning of 2018. Workers began to come back to the province in hopes of putting new skills to work. The recession may have bruised the province, but it didn't break her. In fact, there are a number of new job openings to be filled by both young graduates and seasoned pros.

Residential real estate sales are affected by so many different factors. An Alberta real estate lawyer knows the laws of the province, and he or she may be knowledgeable about how the economy is reflective of purchases and sales of homes. In any event, a seasoned legal professional would be able to advise his or her clients who are thinking of buying or selling property and represent their rights and interests throughout any transactions. 

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