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Vacancy rates in Calgary have spiked as companies lay off

Vacancy rates in Calgary have spiked as companies lay off

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Chris Bolin for National Post

... and 2018 shows how big a spike in office space vacancy Calgary's downtown core experienced as the recession sparked tens of thousands of layoffs.

At the end of 2014, the office vacancy rate in downtown Calgary was a relatively low 9.8 per cent. (Altus Group)

The downtown office space vacancy rate had reached about 20 per cent by the middle of 2016. (Altus Group)

By March 2018, there's a lot more blue and green, indicating available space, with the vacancy rate having shot up to 27.7 per cent from roughly 10 per cent ...

This graph shows downtown Calgary Class A office space vacancy from the first quarter of 2011 to the first quarter of 2018. (Altus Group)

Vacancy rates are at levels not seen in over a decade. Crystal Schick / Calgary Herald

Office towers in downtown Calgary, where rising vacancy rates have pushed the tax burden onto businesses outside the core.

The data table for this graph is located below

With so many layoffs in downtown Calgary, the streets can feel empty and staff can feel disoriented from the changes. (Drew Anderson/CBC)

The data table for this graph is located below

Calgary Chamber of Commerce survey finds business beleaguered by rising costs

The data table for this graph is located below

People leave the Penn West Tower in Calgary Sept. 1. Penn West Petroleum and ConocoPhillips laid off hundreds of employees in Calgary.

As Mark Thornton of the Mises Institute points out, in a report from the Financial Post shows that Calgary in Alberta Canada now has 1.7 million ...

Homes under construction in a new Calgary subdivision.

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Office vacancy rates in Calgary will peak at almost 18 per cent by the third quarter of 2016, according to an annual forecast from U.S.-based real estate ...

The data table for this graph is located below

Pictures of Calgary's impressive skyline don't reveal that more than a quarter of the office space in those gleaming towers is available for lease.

Survivor's guilt can plague many employees after companies lay off staff, as you're not only losing your co-workers but also your friends. (Getty Images)

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AB jobless rate

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Alberta has attracted workers from other parts of Canada for decades, but a Finance Department memo highlights the scale to which their numbers had grown ...

Brandon MacKay works on this motorbike in his trailer turned into a make shift garage,

For the first time Canada's biggest city has been flagged as one of the country's riskiest markets by the housing authority as prices soar above growth in ...

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... Rental Rate office submarket review MARKETBEAT; 8.

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... Real Estate Brokerage; 2. Submarket Inventory (SF) Vacancy Rate ...

Calgary's downtown vacancy rate remained constant throughout 2017 at 26%. This equates to approximately

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Condo prices in Calgary and now down more than 7% from last year, and back at 2013 levels. After factoring in closing costs and commission ...

OTTAWA ...

Meanwhile, back in the real world the HELOC bubble has gone parabolic and is broadcasting a crash of substantial magnitude is in our near future.

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The company landscape can look desolate after layoffs, just like an empty Macleod Trail. (Drew Anderson/CBC)

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Seems people are still flocking here:

Brandon MacKay, pictured in Fort McMurray Alberta, November 14, 2015. Brandon MacKay

... we're under-demolished'” link=”https://business .financialpost.com/news/property-post/landlords-scramble-to-fill-near-empty-skyscrapers-dotting- calgary- ...

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Ontario Electricity Prices Are Out Of Control | News | Pinterest | Electricity prices, Ontario and Statistics

As Alberta's oil patch continues to feel the pinch from plunging oil prices, some Calgary staffing agencies say they have noticed an unprecedented spike in ...

“Monetary support in Europe over the last five years has allowed companies with weak profitability to continue to refinance their debt and stave off ...

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The data table for this graph is located below

63. Ottawa Downtown Vacancy Rate ...

... 6. The vacancy ...

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The data table for this graph is located below

The premium is reflected in the gap between China's seven-day repurchase rate fixing and the weighted average rate, which, by Bloomberg notes, widened to as ...

Available Space Available Space H Rental Rate High-Tech; 16.

Homeowner Vacancy Rate

Homeownership Rate

... 24.

So whether it's the total number of stocks or the amount of shares for each company outstanding, the stock market is shrinking. Or as Dark Bid's Daniel Drew ...

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Rental Vacancy Rate

About half of economists think a rate is coming next week. A majority believe one will materialize sometime this year. Everybody got a little rattled last ...

In era of trade uncertainty, the Bank of Canada's Stephen Poloz was made for this moment in history

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Calgary Real Estate Board's chief economist Ann-Marie Lurie. File / Calgary Herald. “

An empty floor in an office building near Calgary City Hall.

Watch'Market has bottomed out': Housing prices in Toronto region set to climb again after brief slump

Hotel Occupancy Rate

Todd Korol/Reuters

I must be misunderstanding, because there's no way you're not aware of the answer to this. There's actually a very good reason the ratio has been increasing ...

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“The deceleration in price gains largely reflects trends among Greater Golden Horseshoe housing markets tracked by the index, particularly for single-family ...

Ron Kneebone, a professor of economics at the University of Calgary's School of Public Policy. (Robson Fletcher/CBC)

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2) Oil prices have rallied from the lows reached earlier this year, giving some highly indebted energy companies more time to survive after seeing their ...

... Rental Rate**; 22.

No fixed address: What's causing soaring prices in Toronto's condo rental market

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Zombies shot up to as high as 11% in June 2016 before easing in recent months. Energy companies, thanks to weak oil prices, and those based in southern ...

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Source: Toronto Real Estate Board

Windsor's Unemployment Rate Puts Calgary's To Shame

I have not mentioned the gross overbuilding of condos that's taken place in Toronto, Calgary or Vancouver. Not the tightening of lending regs as ...

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BMO CHART modified

“Why has PCE Inflation fallen below 2%?” from Janet Yellen speech, September 24, 2015.

That's because a “significant amount” of the lowest-rated unsecured bonds of energy companies are pricing in oil at ...

The tax is ginormous – 1% annually of assessed value, which is $14,700 on the average detached house, or $1,230 per month. This is on top of normal property ...

Half-empty office buildings on the rise in Calgary, Edmonton amid oil price plunge | Financial Post

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