Q: Should I be concerned about the declines in office usage as reported in US and Canada. What does this portend for Colliers going forward through this rocky landscape
5i Research Answer:
The office market is a big concern for investors these days. Vacancies are rising and rents will likely fall. There have been some commercial office bankruptcies. CIGI alluded to the weak market in its quarterly release and cut guidance. This resulted in a stock decline and some broker downgrades. While we think it is a good company we doubt the stock does much this year. Please also see our May 5 answer for more numbers on the quarter.