Commercial real estate in Calgary, the epicenter of the Canadian oil bust with 1.2 million people, is collapsing at a breath-taking rate.
Signs of a bust pile up.
“All it takes is a couple of big tech companies folding and the floodgates open, causing the sublease market to blow up, rents to drop, and new construction to grind to a halt.”
So who is getting hit?
Watch the banks.