September 15, 2016 10:16 ET
CALGARY, ALBERTA--(Marketwired - Sept. 15, 2016) - Canada Mortgage and Housing Corporation (CMHC) released its latest Housing Market Insight (HMI) report on the economic structure of the Prairie Provinces and the impact of low oil prices on Alberta, Saskatchewan and Manitoba housing markets.
The decline in oil prices will impact each Prairie province differently. Alberta's economy and to a lesser extent, that of Saskatchewan make these two provinces vulnerable to an oil price shock. Manitoba's economy, which is more diversified with a relatively smaller oil and gas industry, tends not to experience as much of an impact on its housing market.
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"The structure of Alberta's economy makes it vulnerable to oil price shocks which can cause considerable swings in the economy and housing market."
Lai Sing Louie
Regional Economist, Prairie and Territories
Canada Mortgage and Housing Corporation
Renee Nat, CMHC Public Affairs(403) email@example.com
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