“Edmonton – Where’s the Boom?”
By Graham Hicks
January 17, 2023
We live in strange times here in Edmonton.
Every other time we went through high energy price cycles – when oil was running between $100 Cdn to $130 Cdn - Edmonton boomed.
Restaurants and clubs were opening every week, packed from the moment they opened their doors. The fun zones of the city – Old Strathcona, the west end of downtown – pulsed with energy. Money gushed through town. If you wanted a job, you got a job. Well-paying too.
At times Edmonton and Calgary led the country in rising real estate prices, low vacancy rates and expensive rents.
It’s been a year now – since the start of 2022 - that oil and gas prices had the big rebound.
But the city still seems to be in a post-pandemic lethargy. Pedestrians in the party zones are few and far between. A depressing number of quality restaurants have gone out of business. The “for lease” ...
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