Jan. 12, 2016 | Alex Frazer Harrison
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.