Quote:
Originally Posted by Drybrain
No, they lived here for several years, had jobs and social networks, and had planned to move here permanently. This was their home. But they moved here in part for financial reasons, which ended up no longer making sense. So they moved elsewhere. We have a highly mobile society, and that's the reality.
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As people and jobs become more mobile there will be a new equilibrium. I don't think Halifax will end up being a bargain city compared to Edmonton or Winnipeg or Ottawa. I think it will be considered more attractive than average because of its coastal location, much like Vancouver or Victoria. And maybe for its history and character too if those aren't wrecked too much. Halifax as a "discount" city was an artifact of the hangover from the 1990's.
Areas like the South End, Northwest Arm, and some of downtown are definitely starting to be priced as prime national level neighbourhoods and have buyers that show up from all over. I could see this surprising some people who are used to what the city was like 10 or 20 years ago. And I think this is just beginning, and that the North End is going to be a premiere urban district in Canada.
One open question is how much cheap suburban land will continue to be quickly developed into housing along the lines of what you find in Sackville or Cole Harbour. That will have an impact on affordability for a lot of people. My impression is that it hasn't kept up with population growth, and that the share of construction has gradually shifted upmarket over time. We saw this years ago with regional council trying to ban trailer parks and cut down on unserviced rural subdivisions. People like to make fun of trailer parks but they were a way for people even on minimum wage to own property.