Almost every day I hear this sentence from someone: “I’ll do X,Y,Z, but I’m just waiting on the federal election results.”
When I chat with other entrepreneurs, they’re waiting to make business decisions until they can see where the economy is headed. Will they hire? Fire? Advertise more? Expand to a second location? Just waiting ….
When I talk to home buyers, rent-to-own candidates, and tenants, it’s a similar story. “We’re just staying put until the election is over.” And some of the home sellers we are negotiating with will not be setting their final prices until they know … for sure (or so they believe). Real estate investors are also weighing their options in slow motion, stalling until the future appears a little more clear.
At least that’s what everyone seems to think. That’s the current excuse for not moving forward. And that’s the reason I hear for lack of confidence in the economy and the future.
But here’s the thing: Left, right, middle or minority government—it’s not a magic bullet. The election is just one factor in the economy, and in the real estate investing world. Will our federal election do anything to fix the US-China trade wars? Or does anyone in the Middle East care about who is running Canada? Will Canada’s new government have any impact on Brexit? Ironically, one group, flying a bunch of relatively cheap drones, might have a bigger impact on Alberta’s oil and gas companies than our federal election—at least in the short term.
In our opinion, yes the federal election will matter to Alberta and to Calgary’s economic outlook over the next 4 years. But so will a lot of other, sometimes completely unpredictable, factors. The game will continue to change and evolve, and we will continue to grow with it. We’re ready for action today and we’re also preparing for increased action if the federal election suggests more favourable conditions. Whether you’re protecting your stock portfolio, or planning for your real estate portfolio, don’t waste time “just waiting.” Alberta has a fabulous investor’s market today, and it just might get even rosier—in a month or so. Will you be ready to seize the opportunities available?
