real estate prices in Canada sustainable?
#721
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Re: real estate prices in Canada sustainable?
You know I don't think the whole, just move somewhere cheaper method really works, all it does it drive up prices in more locations, domino effect but like dominos eventually you kind of run out of options eventually.
I remember when Halifax was one of the affordable options, seems these days they also have a housing problem.
"the average rent for a one-bedroom apartment in Halifax went up by 20 per cent between January 2020 and January 2021, and the average price to purchase a home went up by more than $100,000 between June 2020 and June 2021."
Wasn't even that long ago that Halifx area was one of the places to move to because it was affordable, now getting there where unless you sold a house somewhere, its losing its affordability too.
Now wait for the complaints about homeless people increasing and tent city's popping up, and local governments thinking the solution is to just kick homeless out of parks, well that isn't a solution once people are in tents in parks, they probably have no options for housing at that point.
I remember when Halifax was one of the affordable options, seems these days they also have a housing problem.
"the average rent for a one-bedroom apartment in Halifax went up by 20 per cent between January 2020 and January 2021, and the average price to purchase a home went up by more than $100,000 between June 2020 and June 2021."
Wasn't even that long ago that Halifx area was one of the places to move to because it was affordable, now getting there where unless you sold a house somewhere, its losing its affordability too.
Now wait for the complaints about homeless people increasing and tent city's popping up, and local governments thinking the solution is to just kick homeless out of parks, well that isn't a solution once people are in tents in parks, they probably have no options for housing at that point.
Last edited by scrubbedexpat091; Oct 14th 2021 at 10:14 pm.
#722
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Re: real estate prices in Canada sustainable?
There are around 70 new highrise tower blocks being put up in Hamilton over the next little while - plus a load of mid-rise buildings and town houses... so that will no doubt go towards them! https://urbanicity.com/hamilton/real...ower-projects/
- the ones in the link are just for the 'downtown core' - not up the mountain or outskirts of the all encompassing 'City of Hamilton' - which now includes Stoney Creek, Dundas, Ancaster etc.,
https://www.buzzbuzzhome.com/ca/plac...lton-county-on
- the ones in the link are just for the 'downtown core' - not up the mountain or outskirts of the all encompassing 'City of Hamilton' - which now includes Stoney Creek, Dundas, Ancaster etc.,
https://www.buzzbuzzhome.com/ca/plac...lton-county-on
Ouch, but maybe not forever. Work-from-home arrangements, whether for gold-collar, white-collar, or pink-collar, are becoming more prevalent, and entrenched, in the post-CoVid environment.
And Hamilton, whether central core, "mountain", or even (to some extent) "outskirts", is recently a more interesting place to be. I have no skin in that game, but do have several close friends who are quite happy there, and more and more so recently.
#723
Re: real estate prices in Canada sustainable?
There are around 70 new highrise tower blocks being put up in Hamilton over the next little while - plus a load of mid-rise buildings and town houses... so that will no doubt go towards them! https://urbanicity.com/hamilton/real...ower-projects/
- the ones in the link are just for the 'downtown core' - not up the mountain or outskirts of the all encompassing 'City of Hamilton' - which now includes Stoney Creek, Dundas, Ancaster etc.,
https://www.buzzbuzzhome.com/ca/plac...lton-county-on
- the ones in the link are just for the 'downtown core' - not up the mountain or outskirts of the all encompassing 'City of Hamilton' - which now includes Stoney Creek, Dundas, Ancaster etc.,
https://www.buzzbuzzhome.com/ca/plac...lton-county-on
#724
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Location: SW Ontario
Posts: 19,879
Re: real estate prices in Canada sustainable?
From the previous census - 6 years ago; wages haven't increased by a lot over the years - but housing has. https://wowa.ca/hamilton-housing-market
Median total income in 2015 among recipients ($) 32,917
Median total income of households in 2015 ($) 69,024
Median monthly shelter costs for owned dwellings ($)1,227
Median monthly shelter costs for rented dwellings ($) 892
https://ca.finance.yahoo.com/news/ho...190115267.html
#725
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Re: real estate prices in Canada sustainable?
My anecdotal experience suggests otherwise, e.g. a small cluster of friends and acquaintances who have cashed out of Toronto real-estate (on average not rich, but now mostly mortgage-free in Hamilton), retired from their previous GTA-style careers, and established (with frankly varying degrees of success) craft-related, internet-based businesses which sell back into their GTA-based social networks of like-minded craft enthusiasts. And their young-adult children have mostly relocated with them, and have pursued mostly service-related careers in the wider SEO region (not necessarily Hamilton, but never Toronto--too brutal a commute).
An unrepresentative sample to be sure. But your own post, as quoted above, has the opposite problem. "Blue collar" seems an overbroad generalization about today's Hamilton. And I'd even suggest your "I doubt very much if people who buy those will work here" deserves more data backing it up, as well.
(Relative income data isn't sufficient. What is the evidence of actual commuting distances undertaken by Hamilton-area residents?)
Last edited by abner; Oct 18th 2021 at 7:07 am.
#726
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Location: SW Ontario
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Re: real estate prices in Canada sustainable?
It would be interesting to see some data about that, if you can provide it.
My anecdotal experience suggests otherwise, e.g. a small cluster of friends and acquaintances who have cashed out of Toronto real-estate (on average not rich, but now mostly mortgage-free in Hamilton), retired from their previous GTA-style careers, and established (with frankly varying degrees of success) craft-related, internet-based businesses which sell back into their GTA-based social networks of like-minded craft enthusiasts. And their young-adult children have mostly relocated with them, and have pursued mostly service-related careers in the wider SEO region (not necessarily Hamilton, but never Toronto--too brutal a commute).
An unrepresentative sample to be sure. But your own post, as quoted above, has the opposite problem. "Blue collar" seems an overbroad generalization about today's Hamilton. And I'd even suggest your "I doubt very much if people who buy those will work here" deserves more data backing it up, as well.
(Relative income data isn't sufficient. What is the evidence of actual commuting distances undertaken by Hamilton-area residents?)
My anecdotal experience suggests otherwise, e.g. a small cluster of friends and acquaintances who have cashed out of Toronto real-estate (on average not rich, but now mostly mortgage-free in Hamilton), retired from their previous GTA-style careers, and established (with frankly varying degrees of success) craft-related, internet-based businesses which sell back into their GTA-based social networks of like-minded craft enthusiasts. And their young-adult children have mostly relocated with them, and have pursued mostly service-related careers in the wider SEO region (not necessarily Hamilton, but never Toronto--too brutal a commute).
An unrepresentative sample to be sure. But your own post, as quoted above, has the opposite problem. "Blue collar" seems an overbroad generalization about today's Hamilton. And I'd even suggest your "I doubt very much if people who buy those will work here" deserves more data backing it up, as well.
(Relative income data isn't sufficient. What is the evidence of actual commuting distances undertaken by Hamilton-area residents?)
My point was, the people who live and work in Hamilton (as opposed to commuters) are likely to have low to mid range income (particularly those that originate from here)... and not able to afford the new increased prices of housing... unlike those who have sold up in the GTA and bought out the cheaper housing here! Your friends were very fortunate.
The information is readily available online on stats Canada.. if you are that interested, to look.
Hoisted by your own petard, lol..
Last edited by Siouxie; Oct 18th 2021 at 3:31 pm.
#727
Re: real estate prices in Canada sustainable?
#728
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Re: real estate prices in Canada sustainable?
.https://www.stelco.com/about-us/our-facilities
https://dofasco.arcelormittal.com/
Firestone closed in 2012
Last edited by Siouxie; Oct 18th 2021 at 3:38 pm.
#729
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Re: real estate prices in Canada sustainable?
Your anecdotal information is an example of how GTA people are moving to Hamilton but are not likely to be working here (your examples work from home online business- or if they are, then working in 'service industry' at minimum wage jobs - i.e. the same as the standard 'blue collar workers' (there are a lot of factories/manufacturing/steel jobs here too).
Moving to Hamilton, and starting up businesses out of Hamilton-based homes is still very much "working in Hamilton".
And the three adult children of the family I know best in this little arts'n'crafts cluster work as:
- a veterinarian
- a cop
- a civil engineer
...i.e. all service-industry workers, none on minimum wage, and only the cop arguably "blue-collar".
Your assumptions about "service-industry", "blue-collar", and whether either or both are necessarily "minimum-wage" are out-of-date, and frankly insulting.
Hoist on your own petard, indeed.
Last edited by abner; Oct 19th 2021 at 9:43 am.
#730
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Re: real estate prices in Canada sustainable?
Oh, bullshit.
Moving to Hamilton, and starting up businesses out of Hamilton-based homes is still very much "working in Hamilton".
And the three adult children of the family I know best in this little arts'n'crafts cluster work as:
- a veterinarian
- a cop
- a civil engineer
...i.e. all service-industry workers, none on minimum wage, and only the cop arguably "blue-collar".
Your assumptions about "service-industry", "blue-collar", and whether either or both are necessarily "minimum-wage" are out-of-date, and frankly insulting.
Hoist on your own petard, indeed.
Moving to Hamilton, and starting up businesses out of Hamilton-based homes is still very much "working in Hamilton".
And the three adult children of the family I know best in this little arts'n'crafts cluster work as:
- a veterinarian
- a cop
- a civil engineer
...i.e. all service-industry workers, none on minimum wage, and only the cop arguably "blue-collar".
Your assumptions about "service-industry", "blue-collar", and whether either or both are necessarily "minimum-wage" are out-of-date, and frankly insulting.
Hoist on your own petard, indeed.
Working for a company in Hamilton, as opposed to being self employed and working from home are 2 very different scenarios. You stated in your previous post that the adult children of your aquaintances worked in the service industry = service industry is generally understood to be trade / retail / hospitality etc.
- a veterinarian
- a cop
- a civil engineer
- a cop
- a civil engineer
I suggest you might have a better idea of the reality if you actually lived here and had expienced living and working here personally.
I find your response dismissive and insulting.... but you are entitled to your opinion, as am I... but if you care to look at stats canada for the income levels for the majority of workers in this city, you will see that the majority earn far below what a professional will earn..
Last edited by Siouxie; Oct 19th 2021 at 3:47 pm.
#731
Re: real estate prices in Canada sustainable?
It's this sort of price escalation that leads people like, say Adele, to have to move to cities that are their second choice, LA in her case, because Lahdons too pricey, innit?
Aren't you a home owner in Hamilton? Soon to be a member of the bourgeois.
#732
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Re: real estate prices in Canada sustainable?
Maybe we need to build like this in Canada. The NIMBY's of Vancouver would lose their collective minds, but that is also an example of why nothing gets solved in Canada, the policy makers cave into homeowners demands rather than doing what is best for society as a whole, and SFH in a land limited place like Vancouver is poor use of land.
Last edited by scrubbedexpat091; Oct 19th 2021 at 5:41 pm.
#733
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Re: real estate prices in Canada sustainable?
Isn't that the whole issue? Many people in Canada would not be able to afford the house they now live in, if they hadn't bought it years ago. In the case of Vancouver, "years ago" is 2015. People who owned houses at that time suddenly had lots of equity and were able to buy more houses to rent to the new "working poor", people like newly qualified CPAs, associates in law firms, doctors and dentists, the kind of people who nominally have "good jobs' but who will never be able to catch up with those who had the same jobs in 2015.
It's this sort of price escalation that leads people like, say Adele, to have to move to cities that are their second choice, LA in her case, because Lahdons too pricey, innit?
Aren't you a home owner in Hamilton? Soon to be a member of the bourgeois.
It's this sort of price escalation that leads people like, say Adele, to have to move to cities that are their second choice, LA in her case, because Lahdons too pricey, innit?
Aren't you a home owner in Hamilton? Soon to be a member of the bourgeois.
Last edited by Moses2013; Oct 19th 2021 at 5:39 pm.
#734
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Re: real estate prices in Canada sustainable?
service-industry I would not consider a doctor, lawyer, vet, or cop to be in, it generally refers to lower level front facing positions, at least in this part of the world, nobody uses service-industry for high paid professional jobs even if they are providing a service.
#735
Re: real estate prices in Canada sustainable?
<goes off in search of giant hod man>
https://www.alamy.com/stock-photo-ma...-84181197.html