Brick and mortar small businesses have been forced shut, or face almost no traffic. Wage relief is being delivered, with the government covering up to 75% of payroll costs at impacted businesses. Subsidized wages help, but another very large expensive still needs to be considered – rent. Commercial rents have been soaring, and tenants, even […]
Canada’s restaurant apocalypse is bad, and about to get a lot worse in the next few weeks. Restaurants Canada estimates the industry lost 800,000 jobs in March, and a tenth of restaurants have already permanently closed. The organization is forecasting Canada will lose almost a third of restaurants by month end. Why Do You Care? […]
Canadian restaurants were already getting crushed by soaring real estate prices, and now they’re facing pandemic fallout. Data from Open Table shows the big drop off in traffic for restaurants in Canada’s largest cities. Cities like Toronto were already facing weak traffic growth. However, this was capitulated after COVID-19 cases began to rise. Montreal had […]
US tech firms are flocking to Canada for high quality tech employees, even with pricey real estate. This comes at the expense of wages.
Residential land accounted for almost a third of all commercial land sales in Vancouver, down from 50% the same time last year.
Hong Kong based investors have created a newly formed joint venture to purchase Vancouver’s historic Hotel Georgia, here’s the details.
Canada’s large public pensions are beginning to lower exposure to the Vancouver real estate market, setting off new alarms of the bubble pop.