Here’s a trivia question for you: What city has the third highest residential house prices in Canada?
Montreal? Nope. Calgary? Uh-uh. Give up? Fort McMurray.
Yes, I said Fort McMurray. For my non-Canadian readers (and the geographically-challenged Canucks), here’s a map that shows Fort McMurray’s location (with apologies to anyone from north of the 55th parallel):
The price of the average home in Fort McMurray, a burg of 50,000 cold, cold Canadians, is CAN $333,000. I learned this from a TV news piece, in which a couple bought a mobile home for about CAN $250,000. A mobile home! Rent is pretty steep too, running at near-Vancouver prices.
Why the sudden interest in a town where the average January temperature is -20 degrees? Oil and gas. It’s the gateway to Canada’s vast fossil fuel resources. Where there’s oil, there’s work. The city’s population is booming, and has increased by 20% in the past two years.