One other factor to consider is the end of a lot of Temporary Foreign Worker contracts. The numbers on the news said 16,000 workers in Alberta had to leave as of yesterday; so I'd say Calgary likely has 1/5 to 1/4 of those workers. If that's 3000 workers, given home sharing that is easily an extra 500-1000 rental properties hitting the rental market.
I know the two markets aren't directly related, but there has to be some spill over if demand decreases.
|