I just think people are in full FOMO and you are setting people up for failure. It doesn't feel right that I would need to pay 2-3x for something someone bought a few years ago. They usually didn't do any maintenance either, something that has doubled. It's hard to justify when most people are tapped out, we see this by looking at the decreased spending. Property taxes and insurance are increasing.. It's cool people feel rich but those who buy are likely a bag holder that will lose everything to reits. But for the government forcing banks there would be sell offs and foreclosures.

I built a 5 bedroom 5 bathroom single family home in BC over 3300 sq.ft as an owner builder for 575K. So a 3 bedroom 2 bathroom or 2 bedroom 2 bathroom starter home would be much less to build, but there is no money to be made by a general contractor. So people, need to start building their own homes if they want ones badly that they can afford, like we did, and my grandparents did after WW2. All the people on my grandparent's street in Saskatoon built their own homes on discounted land lots offered to veterans at the time. My grandmother built the kitchen....truly a different time with a different character of people willing todo what it takes to get ahead...

Dartmouth is on the right of the harbour.

Halifax is becoming over run with homeless people because it's a liberal city. Truro and Moncton police are directed to move people along. Truro police actually go out and tear down tents in the middle of the night. Net result, no homeless people in those places camping in parks and they all end up here. Between people being stupid enough to hand money to homeless people jaywalking in traffic and letting them camp for free wherever the hell they want and do whatever the hell they want with no repercussions....Halifax has become over run with homeless people doing whatever they want. I pay 10k in property taxes to live here and if they're going to liberal it into a Los Angeleseque Liberal dump I'm afraid I'm going to have to sell out and leave. I/we work 16 hour days to pay for those parks with our tax money. If I were to pull on to the Halifax commons with a 300k camper and refuse to leave I would be towed within the hour, receive $2000 in fines and a $10,000 bill to fix the "mess" I made. Double standard much? I have to ask...why the F do I pay 10k annually to live on a 10,000 sf plot of land when Joe Homeless can go out and claim the park for his own that I supposedly paid that 10k to fund and make it so that I can't use it anymore. The way things are going the homeless are going to end up owning all of the green spaces the tax payers own thru squatters rights. As soon as a homeless camp lands in an area petty crime goes thru the roof. The west end used to be like a small town with no crime. Homeless camp sets up in Flynn Park...now everything that's not locked or nailed down vanishes. It's now progressed beyond that to car windows smashed and people trying the doors to homes to see if they're locked. It 's about time for a taxpayers revolt. Everyone stop paying your taxes until Halifax deals with this issue how it should have been dealt with in the first place, moving everyone found in a green space after 10 pm along and a I don't give a f where you go..its not my problem...get a f'ing job like the rest of us or die. You would be surprised how quickly a government faced with no money coming in changes their tune. Extremely unliberal, but when you stop catering to homeless people like houseguest relatives the problem magically disappears.

Do you think this is serious or to wake up the provincial and federal governments? This problem is so out of hand all the way across Canada it’s disgusting this is happening. Starting to feel like the dirty thirties in this country.

Hi Andrew, I might be coming to Truro with my family soon. I would like to know how much i can get for a two bedroom apartment. Thanks

To me, this program feels like it requires significant privilege to qualify first. To afford and be preapproved for a 570k home and to have an income of less than the max seems unrealistic and doesnt really help savings for people who are closest to being able to buy a home unless you have the privilege of things like no debt etc and have family money

Hello, I am a large bus driver. I have experience in this field. I want to... the job

Who wants to live downtown anyway but still absolute stupidity At this point they just want the city and country to a greater extent to fail. Youre going to make all those parks homelessness shelters lol good bye tourism money for the downtown core and good bye places for families and kids to go enjoy their childhood and make memories. Braindead

The fact that the city reacts to homelessness by suggesting public parks for the homeless to camp on, instead of providing unused buildings or other structures, or building shelters and affordable housing is most shocking. One would think that if the homeless problem becomes so bad that you are looking at parks then the city missed the mark completely to address the issue to let it get this bad.

HRM council made this list to wake up the provincial government. Politics!

What do you think of this list? 😬

We use Bissett Road Park very often, and it is a very high traffic area and lots of people use it. I would hate to see it go to waste, because the second it becomes an encampment, is when we stop going there. Although it is very far away from everything, so Im hoping that it will be a deterrent

No offense, but Dartmouth is the ugliest city I've ever seen in my life. I'm from Europe btw

Personally I think that we've got a massive shock of sea levels rising and many residences near water inundated with water. So, my feeling is that as houses get destroyed the ones that are higher up will become even more valuable. We moved to the province in 2023 and bought on a hill in Lucasville. I did not want to be anywhere near water. I really hope that peoples houses aren't destroyed but the rate at which glaciers are melting it's not going to take long for a few inches rise in sea levels to cause massive damage along the entire Eastern North American coastline and elsewhere, obviously.

Thanks for great insights and data. I don't think I've ever seen the analysis you did but I agree, seems insane pricing. The growth of HRM and Nova Scotia alone is significantly outpacing home building and apartments for that matter. We bought our home in Dartmouth in 2018 for around $220. If I put it on the market today it would pretty easily go for $400K I'd think or more. Sounds like I'll be a millionaire in no time unless something breaks. lol

Love your videos lately! And you sure make a fella want to do everything I can to buy my next property!!

High immigration is killing the Canadian dream

At what point does the housing and rent prices and overall cost of living force people to look to live elsewhere. While Nova Scotia and even HRM still have relatively affordable housing compared to the rest of Canada, wages are lagging far behind and I dont feel that wages have been increasing nearly at the same rate. On top of that I am pretty sure the cost of living here went up way above official inflation numbers. Plus some of the highest taxes. At the moment the only thing that still keep people here is the rent cap. Without that in place I would likely have to leave because I cant pay $800+ per month more for rent. And neither do I want to search for a downgrade just so my increase is $400.

Interesting video! Thanks for putting this together. I am not local but pay close attention to what is going on in HRM. I'd also add that 1) Halifax has a lot of governmental support (such as universities, hospitals, navy, etc.). 2) There is not a subway or highway into the peninsula. 3) As one of your videos mentioned, there was just an approval of the upzoning by-laws. These factors tend to support prices. From an owner's perspective, you would want real estate to appreciate "quietly" at 5% per year. Nothing wrong with that as the big gains are what will result in often unwated/unnecessary governmental changes.

Thank you for your content. IMO The projection of what the actual average Halifax house price will be in ,say, 2030 ,and then 2040,( despite being hard to look at in terms of affordability ) is not the real issue. Like you say, it has always kind of been this way in HRM. Even during stages of N.S.'s DEPOPULATION during 2000s /teens there were modest annual price gains that resulted in substantial cost increases when looked at in one decade chunks. What IS changing is the whole narrative that house price increases will somehow slow down enough or level out while the wages/ industry salary standards of the general populace will "catch up" with the cost of everything. Sadly not happening. Equilibrium has been lost. This disproportionate gap between peoples wages and actual costs is what is opening wider and wider past the" breaking point". Unless there are real turnarounds in terms of attracting productive industry to the province we will only see further societal problems that have just started to spiral , mostly due to an exaggeratedly house-centric economy. The government cupboards are bare, and we are caught up in a vicious cycle. As you know , once you pass a certain price point there is no necessary correlation between it and quality of a city's life, no matter the worth on paper. As a Haligonian raised here in 70s and 80s but lived in big cities in Asia throughout my life unfortunately I feel the sufferfest is just beginning. I hope for the best , but expect the worst unless there some truly innovative interventions. Thanks again for the channel!

One of the biggest catalyst for the recent dramatic price increases in the HRM is definitely the supply and demand. As Andrew mentioned at the moment there is a rather large discrepancy between housing supply and demand which is being fuelled by the population growth. Hard to envision a scenario where prices decrease when this is the case. Also, this new reality has created a lot more new investors, who may be willing to pay a premium for properties that offer the potential for rental income which is currently also higher due to demand, with the added benefit of future capital appreciation (5% year over year). Just my opinion of course.

did prices drop during the 2008-2009 Great Financial crisis? We’re about to go through something much, much worse as the credit bubble pops. Fed to start cutting interest rates>>>>>>recession.😮

Great content, thanks.

Great content, thanks.

Are we about to hit the breaking point? 🤷🏻‍♂

They are destroying Halifax😢

All boils down to to many people per house to much demand

Unreal

I'll add lots of rippers, homelessness and down on their luck folks around down town Dartmouth, tell it like it is, I like it there but be honest!

Would be interesting to know the stats for first time home buyers. How many of the sales were to fist time buyers, what is the average price sd to first time buyers etc.

I enjoy your videos, but the constant clicking makes them unwatchable for me. Thanks for all you do!

In the 80's, the south end used to be the best but now it's full of wokeness, radical left students, blm racists, antisemites and far left lgbtq radicals. Steer clear of any areas that are close to any of the big universities. West End Halifax is way better than south end now. Less radicals and more peace.

Halifax is extremely expensive so Dartmouth is where all the thugs and lesser desirables live just for the simple fact that they cannot afford to live in Halifax. That usually means the crime rate in Dartmouth is MUCH more higher. It's almost comparable to Spryfield (which is also a sh*thole)

👍👍

What is Number 3?

$570k is still a little light based on housing trends. Maximum household income could also be increased as $145k doesn't go far especially if kids are involved. If you can't budget 5%, you shouldn't be allowed to participate as you are already too risky of a buyer (5% of $570k = $28,500). As you indicate, being considered a second loan really hampers its potential due to extra leveraging.

Great video as always Andrew! Does this down payment program help people who already have some money saved up? Like if somebody already has $50,000 saved up can they get another $25,000 from this program for a total of $75,000. Or does it only help people who have $0 saved up for down payment. Thanks!

Very professional and well said. Keep up the good work as I always enjoy your presentations.

Dartmouth and Halifax both suck

15 mins walk to the ferry, while being asked 20 times if you want to buy drugs 😢

You forgot about the Traffic!

great video and great changes!

I just stumbled across your channel. I have some questions. I been living in my apartment for ten years. Is apartment insurance mandatory. And is it legal for the landlord to keep raising my personal liability to 2 million

What percentage of properties are unoccupied? I’d be curious to know.

I’m a young person, and I’m not interested in solving the issue with supply. I’m interested in slowing and reversing the demand. But, as long as it’s happening in the city, and they keep this out of our rural communities, I can look the other way. I know plenty of folks that feel the same way. It’s NOT just older folks. That’s spin.

Bye Bye beautiful old quaint maritime city - welcome the globalist highrise concrete and steel. We will own nothing and we will be happy(!?)

I think it's cheaper to buy in Pictou County and then take the bullet mono-rail train to work in Halifax.

That's the problem... I have a land lot in Enfield, project and some downpayment. And I want to build a simple 2bd house to sell it, but no banks or government programs exist to lend me funds as a new developer

China and India NEED housing... not Canada