Despite our economic troubles, Canada is the best place to ride out a worldwide recession, said Scotiabank's senior vice-president and chief economist Wednesday. And the best place in Canada is Alberta, Warren Jestin told an audience at the Edmonton Real Estate Forum.

Compared to the ailing economies of nations such as the United States, Germany, France, Italy and Japan, Canada is faring very well, he said." Now look at the other provinces. Look at the extraordinary success Alberta has had over the last decade or so, the shift in taxation, the modernization of infrastructure that's underway.

He said the global downturn has already entered a new phase he called "bouncing along the bottom. Clearly as we look forward to the end of the year, there will be good news and the really good news will be a lot less bad news." Canada will benefit next year, when the world economy is expected to strengthen and commodity prices to rise. "In that sort of environment, we're back in the model we were in before this crisis. Canada is a commodity-rich country in a commodity-poor world. Prices are far more likely to go up than down, and the Canadian dollar begins to rise again."

This is all outstanding news for Lethbridge real estate. Our Lethbridge house prices have not been affected very much by this crisis at all, but there's no question, they have come down. A stronger Canadian economy will mean that even more enthusiasm will come to the Lethbridge real estate market than we've seen so far in 2009. Desite proportionally more home sales than most any other city in Canada for the same period ot fime, the Lethbridge real estate market could get even better if jeston's prediction comes true.

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