Comment 33345

By rusty (registered) - website | Posted September 10, 2009 at 11:19:06

"It seems the main problem was that you couldn't find employment in Hamilton in your line of work and had to commute, adding to your costs and travel time."

Well let's be honest - there were a lot of problems! But one pivotal moment for us was learning what our TO house was worth, and chatting with a Gage Park neighbour who was about to lose money on the sale of his house. For the sake of our future we had to get out.

For sure property values are tied to the type of neighbourhood, but the neighbourhood values are also affected by the town as a whole. A bankrupt, un-safe, 'unlivable' town will always drag down the values of the neighbourhoods that are tied to it. I expect the areas that have done well in Hamilton are the usual suspects - the well fed middle class ghettos around Westdale, Aberdeen Ave and the outlying well to do suburbs. But in Toronto even the mixed neighbourhoods continue to do well.

I would not underestimate a. the importance of house value trends in people's purchasing decisions and b. the affect of the town as a whole on all property values.

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