Thank-you for explaining the landlords side of things. It IS helpful for my mind to understand. It still, however, doesn't make my fixed income go any higher. My stats and your stats aren't adding up. In my world prices are still going up and nothing is going "down". In your world something is going down? Interest rates, which I don't come close to to benefitting from. What else?
@ewetubin1 Thanks for the feedback. Can you elaborate on your question? I don't remember stating things were coming down but for the most part rents are climbing slower than they were. Similar to inflation coming down, but that doesn't mean prices are coming down, they are just going up slower. Hope that makes sense.
The government has no choice but to keep the rent cap else the housing crisis blow up massively. Many people will have no choice but to leave HRM to a more affordable area and work remotely. Or just leave the province completely. Worse, they may end up technically homeless having to crash with friends or house share. All these are bad for the city. At this point the "market rent" is artificial, driven by a severe lack of housing. Its not sustainable by income levels in the medium to long term. Till wages catch up I expect people to start leaving the province. The issue however is that immigration numbers are higher than people leaving so this rent demand just keeps rising. New immigrants are out of touch with what real rents should be so will pay whatever out of necessity and generally bring life savings with them. And so the circle goes. Government doesn't care because these people bring cheap labour and all their saving to spend and artificially stimulate the economy.
@stefanmuller9653 I agree with some of what you said, however Nova Scotia still has strong net interprovincial migration (more people coming than leaving) and that doesn't factor new immigration numbers.
Thank-you for explaining the landlords side of things. It IS helpful for my mind to understand. It still, however, doesn't make my fixed income go any higher. My stats and your stats aren't adding up. In my world prices are still going up and nothing is going "down". In your world something is going down? Interest rates, which I don't come close to to benefitting from. What else?
@ewetubin1 Thanks for the feedback. Can you elaborate on your question? I don't remember stating things were coming down but for the most part rents are climbing slower than they were. Similar to inflation coming down, but that doesn't mean prices are coming down, they are just going up slower. Hope that makes sense.
Please make video for springhill and amherst or for near by area can i get job there i want to know ?? Please reply😢😢
The government has no choice but to keep the rent cap else the housing crisis blow up massively. Many people will have no choice but to leave HRM to a more affordable area and work remotely. Or just leave the province completely. Worse, they may end up technically homeless having to crash with friends or house share. All these are bad for the city.
At this point the "market rent" is artificial, driven by a severe lack of housing. Its not sustainable by income levels in the medium to long term. Till wages catch up I expect people to start leaving the province. The issue however is that immigration numbers are higher than people leaving so this rent demand just keeps rising. New immigrants are out of touch with what real rents should be so will pay whatever out of necessity and generally bring life savings with them. And so the circle goes. Government doesn't care because these people bring cheap labour and all their saving to spend and artificially stimulate the economy.
@stefanmuller9653 I agree with some of what you said, however Nova Scotia still has strong net interprovincial migration (more people coming than leaving) and that doesn't factor new immigration numbers.