Housing market

[Frankenrogers]

I agree with CoalMineCanary and don't see a sharp correction here (speaking of lower city Hamilton). I really think that it is seen as a cheap alternative to Toronto now. Kirkendall is a pricey neighbourhood but at $300-400k its a bargain to Toronto and walkable to downtown, the GO Bus, Go Train station, and has Locke. Throw in some good schools in the district and I can see it holding value although maybe not rising as much as say the Bayfront. Then you look at neighbourhoods like St Clair or Stinson or East of Gage Park or that thread of housing stock between Main and King in the East and the houses are $200-$250 for beautiful homes. And if you can't afford $200k, there is a tonne of stock for under that here that isn't necessarily dilapidated.

And because it is so cheap, I can't see 900 condos being sold at the Connaught. My friends just literally bought a house with brand new appliances, finished attic, and all the character an older home has for $200k. Even with maintenance costs and higher property taxes a $300k condo doesn't seem as attractive.