Vacancy rates have increased and rent prices have drastically declined as supply is high and demand is low. We hope the market will correct itself in 2016 although just today I heard OPEC suspects another 25 years until oil reaches $95.00/barrel again.
Calgary is a tough, resilient and ever changing city, we’ve survived boom/bust type economies for decades and this ‘bust’ is no different. We will remain strong!
From all of us here at Citysearch:
Happy Holidays and Happy New Year!!