BlueSolstice wrote: ↑Personally, I wouldn't make Ottawa RE predictions based on tech. Tech in Ottawa is nowhere near the same level of importance compared to the Nortel era. Ottawa RE would be fine if another tech crash happens but Trudeau stays in office. Ottawa RE would not be fine if O'Toole brings in DRAP 2.0 while tech is not affected. Shopify just don't have enough Ottawa employees to save the local RE, despite its market cap.
I would have to agree with that as well. Although IT / High Tech is a big part of Ottawa's economy, it's still under 10% of Ottawa's workforce so doesn't have that much affect on it. Furthermore, a large portion of Ottawa's IT community is offering services to the Federal Government and cuts to the Government have a significant impact on the health of IT industry in Ottawa.William W wrote: ↑ And it doesn't even have to take a mass layoff to put a damper on the Ottawa RE market. Just a simple hiring freeze will do the job as promotion opportunities become scarce and all federal employees will have to count on a below inflation pay increase of 0.25% to 0.5% per year from a deficit fighting government.