Lower City Housing Thread

[craftbeerdad]

Welcome to the brand new, spectacular housing thread! We can discuss all things housing: rental, ownership, infills, permit fun, etc., and keep other threads on topic (apparently).

Anyways housing is nuts, and hopefully more listings come on-line, an increase in mortgage rates (banks raising above 2%), a tax or minimum holding time on flippers, and increased coordinated government action towards affordable housing, new builds and help for first-time buyers will steer us away and avoid a massive housing crash. I worry for new buyers as polls suggest both buyers and sellers assume a continued rise in housing prices, driving more demand. Fun fact: Hamilton and KW are the only two major cities/metropolitan areas in Ontario that have not had a buyers market in 15 years.

[johnnyhamont]

Some interesting charts I saw posted to twitter last week

[craftbeerdad]

Some startling numbers in that first table. Burlington colours the Hamilton average as well as Dundas, Waterdown, Flamborough and Ancaster but even lower city and to a lesser degree the mountain (which we can admit is quite different than the original city and naturally stronger) have really increased in the last year. 2017 was the previous peak market for the city, looks like we're going to smash that.

The second chart is quite worrisome as the federal government totally left that party (like healthcare) to the provinces to deal with.

[Innsertnamehere]

Lower Hamilton has experienced far greater gains over the last 5 years on a percentage basis than the rest of the city.

[craftbeerdad]

For sure they have, I just meant the dollar average gets pulled up by the outlining areas. The Lower City was so undervalued other than pockets in general.