Why Fort Mac real estate is poised to plummet

Here's what three-quarters of a million dollars gets you in Fort McMurray. Twelve hundred square feet of particle board and vinyl siding on a forty foot lot. Back when I was in the game we used to put that shit up for well under a hundred bucks a square foot. So how does a hundred thousand dollar shack become worth three quarters of a million?

That's what we're talking about when we talk about "real estate bubbles."

Pull the plug on a couple of the big upgrader projects and this place is worth $100 thou again.