Quote:
Originally Posted by GGG
Why do we attribute every failure to the bust in the economy. I'd say the huge increase in lease rates during the boom is the primary cause.
Calgary has lots of mediocre over priced food out there. This economic slowdown should push lease rates and menu prices back down to something more reasonable.
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Yep. Lease rates were set for a crazy boom when patrons gushed discretionary spending. That's not hapening anymore, but the lease rates haven't fallen fast and far enough.
And you would think prices would start coming down at some point. It should be getting cheaper to hire people than it was during the boom. Of course, the minimum wage legislation could throw a spanner in that natural adjustment.