Well, it is the last day of 2008 - a year of tumultuous markets and plenty of talk of a global recession.  While some countries in the world are reeling, our situation here in Canada - especially in Western Canada - seems and feels quite different from what we read about in the news. 

Lets talk real estate at home for a brief moment.  In Western Canada (BC, Alberta, Saskatchewan) we saw a strong 1st and 2nd quarter in housing prices and then a softening in the 3rd and 4th quarters as the financial markets took their tumble in October and November and consumers around the globe - even here in Canada - stayed glued to the business news.  Many held on for the unknown ride ahead and real estate transactions came to a grinding halt in the closing months of the year.  While transactions slowed in western Canada, the future of real estate here certainly feels much less volatile than in other parts of the country.  The founders ofAltaPacific Mortgage Investment Co. - along with many western Canadian real estate experts - are confident in the outlook for 2009.  We are excited by the new opportunities that a changing economy brings to the real estate industry.  We forecast and expect strong and healthy returns for our investors in 2009 and are already seeing quality mortgage needs from real estate owners in the western provinces of Canada.


Our confidence and expectations are not baseless either.  Today (December 31 2008), news broke from the Mortgage Bankers Association that may shows a glimmer of hope for our friends in the United States.  Mortgage applications in the U.S. last week reached a five-year high!  Pardon!?  While real estate prices plunge in many parts of America the application for mortgages is reaching a 5 year high?  This morning's news article from Bloomberg - U.S. MBA’s Mortgage Applications Index Rose to Five-Year High states that the rise is in large part to sliding borrowing costs but certainly must shows some renewed confidence by American consumers. The year ahead has signs for optimism even in the USA.


Meanwhile, north of the border Canadian banks weathered the 2008 storms remarkably well and this month showed further signs of stability; including raising nearly record levels of capital.

As we look into 2009 we all want to know where our money is going.  Gone are the days of empty promises and mysterious managers of our money.  Investors want a view - transparency as some call it - into how their investment is being used and what real returns they're experiencing.  At AltaPacific Mortgage Investment Co., investors provide this transparency and investors know that the folks entrusted to manage it (that's us) are accountable.  When was the last time you could actually meet the individuals face to face that would be directly responsible for your money?  An investment inAltaPacific allows you to do just that; have a regular open line of communication to the parties directly responsible for your investment. Please feel free to contact us if you're interesting in learning more.

All the best in 2009! 

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