Видео

Really appreciate you producing this.

You cherry pick the worst indicators. Everywhere gets storms for instant, but I’ve lived in 5 provinces and the South Shore of NS has the best weather by far. Winters are remarkably mild, there is no rain like Vancouver, and if it snows, it’s gone in a day or 2. The weather in Halifax is even milder. As for transit, you need to get out of Halifax and see the country. No cities the size of Halifax has transit beyond buses (KW has light rail but that’s a region, not a city). Growing pains? It’s the same everywhere, which is uniformly tough in the locals. Cost of living? About middling.

Great info fella !👍👍

Canada will make a great addition to the US of A ❤

Hi, I messaged you on WP

#1 should be oversaturation of "Come From Aways" as this is the cause of "High Cost of Living", "Growing Pains", and "Lack of Affordable Housing". Bonus: Diminishing East Coast culture.

Really enjoy your content, makes a nice change not being focussed on Toronto. I know you are based in Halifax, but I for one would be really interested in a video(s) about other parts of the province. For example, if people can't afford, or want to pay the prices in HRM, where would be some picks for better value an hour plus away? I drive in to Dartmouth for work, it takes me 1hr 15 each way, and find that it is worth it as we got better value for money where are, more space, quieter roads etc. Are there places to watch out for, places to avoid etc?

If City Council REJECTED the concept of Tents on the Commons....WHY ARE THEY ALLOWING AT LEAST 6 PEOPLE CAMPING IN TENTS ????

I see so much wood, so little steel and concrete

Its a cultural deadzone and everyone is broke.

👍👍

Those are very high home prices

Makes me wish you were right about the interest rates. Not excited about buying more American stocks with the exchange rate being this terrible. I'm definitely not selling stock to move them into CAD with this level of market uncertainty.

If investors can't make the numbers work, and rent prices decline, what happens to those units? Will they come to market and help increase inventory? what percentage would you think "may" come to market for sale, via investor owned?

Home prices are never going back to pre pandemic levels, inflation is up so much it just won’t allow that even if you increase the supply of houses in the market.

why the local governments increase over 30% property taxes each year in last 3 or 4 years :my house in halifax property taxes was $3000 in 2022, now $4300, yet, local goverments saying: they only increased 5-7%each year in last 3 years! why they are not including other taxes such as school levels, local transit taxes,,,local fire and emergecy taxes,,,etc.only one tax payer!!!!does any one realize: it is not landlord who increases those expensives???!!!!

The sad thing is that if your budget is $450k an below you are not only in a bidding war scenario, but you WILL end up massively overpaying for what you get. Yes its driven by demand so the price is reflected by that but just on absolute face value of price paid versus amount of house received for that it very expensive. Compared to what you can buy for $555k and up. Its "only" about a $100k difference but it buys you a lot more house.

Really enjoyed this episode!

🙌

The problem is wages HAVE NOT increased while home prices have. We have 4.9 million temporary residents who need to leave to allow wages to increase. This is the problem and the solution.

Most sales now, from the listings data I have access to, show asking price being lowered, sometimes several times. Quite a number of listings expire or get removed, as well, only to be relisted at a slightly lower price. It "smells" like things are going down, not up, and I am staying put for the time being.

I really appreciate the statistics that you had. Thank you.

Are you concerned with the direction that Nova Scotia Real Estate is headed?

400,000 and under buys a shed today. I remember being in Victoria, BC in 2009 looking for homes, and 400,000 bought basically a shed. I was worried I would be buying at the top of the market and spend the next 30 years paying off a 400,000 mortgage on a 200,000 home. Today it's only worse, 400,000 buys you the front door of a shed in Victoria. If you want something that looks more like a home and less like a trailer, you're spending 1.2 mil. If Halifax today is where Victoria was in 2009, its going to just get worse for young people. I hope the government doesn't NIMBY young people into poverty. If supply keeps up with demand, maybe home prices will level off. But we'd need a lot more home starts. Yes it looks like a lot of homes are being built, but it is not keeping up with population growth. edit: Just some numbers.. NS has been building between 5000 - 7000 housing units per year and adding about 20,000 people per year. Most people are single today (meaning they will each require one unit of housing), married with children is a minority moving into the province. If more people got married, we'd solve housing tomorrow. But that is unlikely to happen.

+$250,000 more for a house really is a negative. Affordability across Canada for the average person is out of control. The more people move to Halifax, the prices will go up. Not very positive for locals. I was considering Halifax, but not now. With my budget, I'd get a shack.

Beautifully shot video. I love it, Andrew Stephens. I'm going to send this video to some friends.

Something’s gotta give in Halifax. I make well over 100G a year and couldn’t dream of affording a house on the peninsula or in Cole Harbour. It’s double what I could afford. The average wage in HRM is nowhere near six figures.

Can i just say its my primary address and live there some days when its not rented?

It has cons, not perfect. But I found that it's very much enjoyable city at the same time for the people looking for the balanced life and it's getting better over time.

I think house prices will decrease significantly as well, with the following reasons: - A new govertment(conservative) - Lesser population (due to emigration) - Economic challenges - Renewal of mortgages combined with expected higher cost of living - Rental price is starting to go down Renting in the valley for the last 3 years, I have observed that there are more postings on rentals and right now what is surprising is they are dropping the prices from $1500 to around $1200 for a 2 br apartment as I recall. To confirm this phenomenon, I checked with reddit and it seems to happen as well in the HRM. I've also read an article from REIC(Real Estate Institute of Canada) that rental prices and housing prices are closely correlated (0.98 I believe), based on this information I would expect the prices to go down hard(hopefully). I plan to buy a house but not in a rush till I get a good deal. It's better to HOLD if you can for now and try to max out the FHSA or do a low ball offer as I think things will get worse before it will get better. That is my opinion, not a realtor or an expert but someone who reads and analyze the internet postings. lol

Interesting that there is little talk about the effect of lowering interest rates faster than the US. As interest drop in Canada the US becomes a better place to put your money. The effect is lower Candian dollar which causes inflation as the cost of US imports increase. There is a fine line between lower rates and a lower dollar. My thought is unless the US drops it rates quite a bit the Canadian rates will have to stay somewhat were they are. This could take us into a recession but time will tell.

I think the price of houses will decrease significantly in 12 months from now; and it’s a historically bad time to buy a house or any property. If you compare the HRM market to Edmonton house prices (which we should be lower than) you see it’s the worst time to buy right now in the HRM. Be patient, do not rush into buying a house when the value could decrease by 50-100k within two years due to the likely recession. A real estate agent will always want to sell you a house & tell you the best time to buy is now (as it benefits them & is their job) but do your research on the market and make an informed decision if it is a smart decision to buy or not.

If Trumps Tariffs actually hit us at 25% that will slow things down for sure.

What do you think will happen in 2025?

I'm struggling to find anything affordable. To rent, not own.

absolutely great quality of video. definitely underrated

Recently bought a small mini-home on a landlease within HRM. The price is comparable to moving from my one bedroom apt into a new rental. Of course owning a mini home will require repairs which I wouldn't have to make on an apt. But overall I feel lucky I found a 'house' that is affordable. I feel the government should have more incentives for people to buy mini-homes and be on land leases, because they are smaller and one of the more affordable options. New build incentives are nice, but it's because that housing is more expensive (cost of materials / labour). In BC, they waive the land transfer tax. Buying a place made me feel that the NS prov gov can do more. Imo.

Lovely that it is a community not just a short term “ temporary shelter “ wrapped around services absolutely needed. Hats off to you

Thanks for the content. I think it is really important to define what Halifax is as it is not just the peninsula. Average rent for Halifax is actually covering 9 regions (of which the peninsula only makes up 2 regions). The report states rents for two bedrooms for the purpose built rental market ($1707) and the condominium apartment market ($2334) so pretty confusing report in the first place. Rentals.ca has average at $2,477. Zumper rentals is the only site I know that defines what a two bedroom means putting size at 977 square feet and asking at $2477. My point is just stating what average rent is for a two bedroom apartment without specifying location and square footage is unfortunately vague. Also, some rents have sky high condo fees while others don't. Some include parking and others don't. Some include electricity and others don't so these types of reports from CMHC are not very helpful unfortunately.

My price point is $600/mo. I make minimum wage, i do work full time. Since the goal is to save money, I am not looking for a place that consumes all my income. Currently $600/mo gets a 8' x 6' room with shared bathroom, a bar fridge and a microwave. I believe I am currently renting a converted walk-in closet.

What's been your experience lately when looking for a rental?

Halifax in the 1980's was a great place. It was okay in the 90's but slowly after it began to fall apart. After they started tearing down entire blocks downtown to build condos and relocate / uproot the best businesses that were downtown, it was never the same again. After c0v1d lockdowns, it passed the point of no return to it's glory days. Homeless tents, druggies, high crime, DEI / woke college ideology on steroids and overpriced condos being bought up by rich foreigners.

Great channel!

A raging hurricane? We had Juan. Then white Juan. As a constant, c'mon

In the UK nearly 15 years ago the government tried to kick start the housing market following the recession by making it easier for buyers to buy brand new homes with various similar schemes. Sure it kick started the housing market but it meant buyers who took advantage of the various schemes would usually pay more in the long run. What was more concerning though was that construction companies would take advantage of the demand for new housing by squeezing as many units as they physically could on an estate. Many cut corners on build quality and due to lack of parking availability cars would be littered on the side of narrow streets making it very difficult to navigate. I fear Canada will go the same way.

Canada seems to be doomed economy wise. You need to think twice before buying anything with current prices.

Are these changes going to have POSITIVE or NEGATIVE impact on the market?

Just live in Dartmouth like a smart person

Why don't people pay $500 for a professional property appraisal and $300 for an inspection before they sell so they know what their house is really worth and what major things they need to fix?

If they were selling it to their daughter would they be able to serve an eviction?