Lay Offs

[Longhorn]

^^^^^
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...

 

[gates559]

Yes deep pockets indeed. Most rental buildings are owned by people with very deep pockets. There are many new building here that have never been occupied. They have high rents and if they dont get their price they sit empty. The big players love tax deferral!

 

[DRD]

More great news.

 

[ABMax24]

More great news.

Well Alberta oil is officially dead, anyone want to buy a lifted diesel truck, sled, rzr, or boat? I think I'm headed to bartend in the Caribean for room, board and unlimited alcohol.

 

[imdoo'n]

^^^^^
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.

wasn't there a truedum at the helm in 79 to 80 also? coincidence!!!!

 

[S.W.A.T.]

Liberals are the reason the oil and gas industry is taking a beating? Not sure I understand

 

[Mike270412]

Well Alberta oil is officially dead, anyone want to buy a lifted diesel truck, sled, rzr, or boat? I think I'm headed to bartend in the Caribean for room, board and unlimited alcohol.

You're probably gonna need an assistant.

 

[DRD]

Liberals are the reason the oil and gas industry is taking a beating? Not sure I understand

I'll type slow, they may not be the root cause but no one is going to invest with uncertain carbon taxes on the table along with the PM doing things like putting a stop to one of the ways the product could probably get to market.

 

[lsone]

You would *think* it would go this way, but even when we had the big slowdown in 08/09 we never saw rents come down. The majority of our rental and commercial buildings are owned by a small group of realtors here in town, and their philosophy is that if they discount one building, it will affect ALL of their buildings. Of course as a renter, I feel if they got a reduced rent, it still makes more sense than NO rent...they however have not seen it the same way. We have some major buildings for sale and rent in the Hat and Redcliff and the majority are still being advertised at $11/ft2 where $4-$6 would be the going rate anywhere else. $8 grand for a 2 bay shop is not feasible in good times, let alone whatever this is now...

It always blew my mind at what bays rent out at. An empty ****ing hole with out of date light fixtures that have ballasts from 1950, a furnace with a belt driven fan from a bench grinder, toilets that use cobbled together piping, etc. All for 6k a month.

 

[summit7]

Got laid off from my job on September 9, have all my honey do list caught up, now I don't know what do to do. Need to find some riding buddies I am thinking!

 

[Boobage]

wasn't there a truedum at the helm in 79 to 80 also? coincidence!!!!

What? This all began well before trudeau got in. I've also seen people lay blame on him for the sewage dump...same story.

this forum should change its name to Fox news forum with all the redneck nonintellectual "facts" being portrayed as truths.

 

[Mike270412]

What? This all began well before trudeau got in. I've also seen people lay blame on him for the sewage dump...same story.

this forum should change its name to Fox news forum with all the redneck nonintellectual "facts" being portrayed as truths.

I'm still blaming the liberals

 

[AreWeThereYet]

I'm still blaming the libtards

Fixed it for you

 

[X-Treme]

I'm still blaming the liberals

You sure this isn't ALL the fault of the Alberta NDP?

 

[Puba]

You sir are correct.

Sent from my SM-N910W8 using Tapatalk

 

[ABMax24]

You're probably gonna need an assistant.

I'm sure I will, how do you look in a coconut bikini? Pictures as proof are required lol

 

[sumx54]

I'm sure I will, how do you look in a coconut bikini? Pictures as proof are required lol

He knows how to work a pole.

 

[d mills]

What? This all began well before trudeau got in. I've also seen people lay blame on him for the sewage dump...same story.

this forum should change its name to Fox news forum with all the redneck nonintellectual "facts" being portrayed as truths.

Please enlighten all of the nonintellectual rednecks what the facts are....... Without quoting Cbc.


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[ABMax24]

He knows how to work a pole.

Perfect, maybe I could be Mike many #s pimp? Or are you talking fishing poles? Either way there's $$$ to be made. Lol

 

[Puba]

He knows how to work a pole.

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