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Stories Tagged - downturn

Inn from the Cold donor relations director Janeen Webb said the organization is seeing similar usage numbers this year when compared to 2015. Photo by Michelle Hofer/For CREB®Now
News

June 07, 2017 | Kathleen Renne

Hope is on the way

Inn from the Cold reports consistent number of bed stays to 2015

A haven of hope – that's how many guests at Inn from the Cold describe Alberta's only barrier-free shelter exclusively for families, which continues to see capacity-like numbers leading into one of its busiest times of the year.

"One of the things we're doing here is restoring dignity," said director of donor relations Janeen Webb.

In the face of Alberta's ongoing economic downturn, Inn from the Cold has reported about 30,000 bed stays so far in 2016. Webb said that's consistent with 2015 when the organization saw almost 40,000 stays by year's end.

CBRE managing director Greg Kwong said Calgary's commercial market is likely to see vacancy rates peak in 2017. Photo by Wil Andruschak/for CREB®Now
News

Dec. 23, 2016 | Cody Stuart

Core issues

Downtown office commercial market to see higher vacancy rates in 2017

Despite setting a third-quarter record with a reported $11.2 billion in sales, Calgary's commercial real estate sector will likely see vacancy rates continue to soar this year and next, predicts real estate firm CBRE Ltd.

CBRE Calgary-based managing director Greg Kwong said the downtown market will feel it the hardest, with vacancy rates that are expected to close in on 30 per cent.

Allan Dwyer, assistant professor of Finance at Mount Royal University‚Äôs Bissett School of Business, believes the current downturn has similarities to others in history. Photo by Wil Andruschak/for CREB®Now
News

Jan. 12, 2016 | Alex Frazer Harrison

Here we go again

Comparing Calgary's current downturn to history

Calgary's infamous boom-bust economy is at it once again.

Just as it did in the 1980s and late-2000s, economic conditions have once again turned sour.

But does this downturn feel different from those that came before?

Yes, says CREB® chief economist Ann-Marie Lurie.

In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, Lurie notes that while some have tried to compare this year to the early 1980s – in terms of its perfect storm of low oil prices and high unemployment – the underlying conditions are, in fact, much different.


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