Most of Alberta had been seeing a general decline in economy for several years prior to covid. Increasing vacancy rates, downward pressure on wages, and many workers who immigrated from other parts of Canada, moving back home. It is a cyclic market based largely on oil pricing. Think of realestate investing in Alberta as investing in oil. I would be cautious investing in Alberta from afar. Of course, cycles produce opportunity, particularly for those abreast of current market values.
Sherwood Park is unique, only because I had lived there for many years. Rental rates are not particularly attractive, but prior to covid, some good deals could be found.
Covid has created some anomaly in all markets. Where it falls is anyone's guess, but I'm going with markets will reattach themselves to local demand over the next year.
