Comments on: Canadian Office Vacancy Rate Hits 14%, Highest In A Quarter Century: BMO

By: Ahmed

Ahmed — Tue, 04 May 2021 03:46:00 +0000

In reply to Shawn.

The data is showing literally the opposite of what you’re saying. Companies are scaling back office space, because it’s a huge overhead they don’t need.

The employees don’t rent the office space. The companies do.

By: Shawn

Shawn — Mon, 03 May 2021 20:02:18 +0000

I guess most of employees want to work at home, but employers want us to work in office, and they are hoping us go back to office after pandemic. So I guess the companies will decide but not employees decide if they are going back to office entirely or partially.

By: straw walker

straw walker — Mon, 03 May 2021 16:33:58 +0000

Calgary has 2 office towers completely empty

By: John Marsh

John Marsh — Mon, 03 May 2021 16:05:55 +0000

I work for a large (tech-based) publically traded company in Toronto. They recently did a survey with all employees, here are the results.

4% prefer to work in the office full time
21% 3 days / week
42% 1-2 times/ week
33% come in just for meetings

If this is any taste of what the future for downtown, commercial real-estate looks like on a larger scale then there may be some serious changes ahead

By: WS

WS — Sun, 02 May 2021 16:03:29 +0000

“what makes you think when the entire world is recovering we will purposely tank our economy just so we can make housing more affordable?”

The government erected supports to shore up the economy at a macro level. The by-product is that an already existing housing bubble in some markets got pumped up even aided by the lowest interest in history, and a slick RE marketing machine.
It’s all on plastic, the bills will be coming in, the ponies, houses, and other toys will have to go back.
The divorce battle will be about who gets stuck with the underwater mortgage.

By: Itchy Bear

Itchy Bear — Sun, 02 May 2021 14:55:14 +0000

So business bankruptcies were way down during the pandemic due to all the government money thrown around and a huge percentage of millennials yolo’d all their money into super expensive housing. Inflation is going way up, in the least short term, and that’s what all government policy is pushing (without wages going up, how is that different from a tax increase).
How does this not get worse when corporate bankruptcies go back to normal levels, and where’s the money in the system for people to feel comfortable or confident enough to start new businesses?

By: Holton

Holton — Sun, 02 May 2021 04:26:34 +0000

Most office jobs can be done completely remotely. The pandemic just exposed this reality faster. Companies can save tons of money by not paying high rent. This is not an indication of economic downturn, its an indication of future trends.

If the government didn’t allow housing prices to drop during the pandemic, what makes you think when the entire world is recovering we will purposely tank our economy just so we can make housing more affordable?