Longhorn
Active VIP Member
- Joined
- Dec 19, 2009
- Messages
- 3,809
- Reaction score
- 415
- Location
- Medicine Hat, AB
- Website
- www.longhornenergy.ca
^^^^^
That's what I thought . It is a group that is keeping prices up.
Good for them but this time is going to be way worse than 08/09.
Hope they have deep pockets.
That was a levelling off and no down turn.
Time will tell I guess . Have been in the oil and gas since 1979 and this one stinks like 1979-80. IMO
Only thing this time is interest rates are low.
Going to be tough for folks that are carrying big payments.
Their pockets are deep enough that some of these brand new buildings have been vacant 7+ years, and they are building more. Mind you, one project is a condo-style multi bay that has 50+ bays in it. Entire project was pre-leased, and as of today, 100% backed out, not one singe renter or buyer. We have made offers on a number of shops in the last couple weeks, all offers in the $5-6 range, we will see what happens.
And yes, I agree, this is far different that 08/09, and does feel so much like the 80s without the high interest. Its gonna be a long haul for most of us...