Are real estate prices in Nova Scotia in a boom or merely a bubble????

My province, Nova Scotia, Canada, has been going through something like a real estate boom since this Covid 19 pandemic began. Do you think that this is merely a temporary real estate bubble or will the trend to leave big cities and move to rural America and / or Canada continue over the coming decades and even centuries?



I personally believe that this could become a truly major trend..... but I admit that I am biased.... partly because I take this verse in Isaiah very seriously.

Isaiah 5:8: “Woe unto them that join house to house, that lay field to field, till there be no place, that they may be placed alone in the midst of the earth!”

Although this is merely a blog that explains what has been happening I find this one of the more interesting sources of information on this...... I actually am expecting a long term continuation of people moving out of cities to rural America and Canada to continue partly due to the trend for Artificial Intelligence to replace many careers and.......
..... the introduction of an UNCONDITIONAL INCOME SUPPLEMENT in Canada and America will also free up many people to be able to work as much as they want to work... even from a much less urban setting?!



https://blog.remax.ca/strong-price-growth-across-nova-scotia-real-estate-markets/

Nova Scotia Real Estate Markets See Strong Price Growth

 

To my thinking this article goes into the number one driving force behind the trend for people to leave urban America and Canada as soon as they are financially prepared to do so.

So far..... I personally have used the fully automated aisle in the grocery stores in Antigonish and New Glasgow very, very seldom... but they are there.... and as fewer and fewer Americans and Canadians are willing to work for minimum wage I do suspect that these fully automated grocery check out aisles will become more and more popular.


https://time.com/5876604/machines-jobs-coronavirus/

Millions of Americans Have Lost Jobs in the Pandemic—And Robots and AI Are Replacing Them Faster Than Ever

 

I am actually something of a leader in promoting what I think of as an "expansion of pro-choice" but also an obviously pro-life
way of tweaking the USA and Canadian economies. This idea has not taken off among conservative voters yet.... .but I do think that that time is coming:


Would a Basic Minimum Income dramatically reduce abortions?



?
Will a Minimum Basic Income dramatically reduce the incidence of abortions?

1. 
   
   
   • 
     Perhaps by 1- 10 percent over the present rate.
     4 vote(s)
     50.0%
   • 
     Perhaps by 11 to twenty percent over the present rate.
     0 vote(s)
     0.0%
   • 
     Perhaps twenty one to thirty percent over the present rate.
     1 vote(s)
     12.5%
   • *
     Perhaps by even more than by thirty percent?
     3 vote(s)
     37.5%

Change Your Vote


Based on the ideas of economist Milton Friedman who hated bureaucracy I've been advocating five hundred dollars per Canadian for all Canadians, (regardless of their income levels so that almost zero bureaucracy would be needed to keep track of this measure). I suspect that the idea of an Unconditional but Taxable significantly high income supplement to be like metaphorical blood in the Canadian and USA economy, may take off in the USA before we Canadians catch on..... but hopefully Canadians will set a positive precedent for once?!

Frankly I am kind of surprised that more pro-life thinkers have not caught onto this rather simple idea already?!

 

I have several plans in mind to pay off the national debt of the USA and Canada and Israel and Australia.....
and one of them begins with the following opening gambit....


The Worgl Austria Great Depression Experiment and a real estate boom in rural America?

I admit it... my plan is not entirely without risks.....

The following possible result might not be entirely win - win - win - win - win for ninety nine point nine percent of Canadians and Americans?????

One of the possible negative side effects to my plan could well be the rise of the SUPERCHURCH shown to Pastor David Wilkerson in 1973???????

WARNING.. THE FOLLOWING VIDEO WAS DONE IN 1973 AND IS NOT ENTIRELY POLITICALLY CORRECT BY 2021 STANDARDS....... please do NOT listen to this video if you are easily offended...... on the other hand..... "a film devoid of conflict is boring" (R. W.) and turning Americans into three hundred and thirty million reality film stars is one part of my longer term game plan.........





1973 Prophecy - The Vision by David Wilkerson
1,024,267 views
May 5, 2011

 

Not an anomally, no.

It's happening all over the world. Land is now the ultimate security, and anyone who has the remotest ability to secure some, is doing so.

The writing has been on the wall for years. Property was always going to be the common man's last redoubt against enslavement by the State and/or their Overlords. Anyone who ignored the writing, thus missing the boat in terms of securing cheap land, has only themselves to blame going forward. I can't tell you how many people I've seen miss perfectly affordable opportunities because the property wasn't in exactly the right spot, or because they didn't like the neighbourhood, or because there weren't enough cafes nearby (or any one of a million BS excuses to avoid commitment), and who are now stuck with being rent slaves for life. It's already too late in my country, given prices in capital cities are increasing by up to $3000 a WEEK - let's hope young and working class Canadians are less foolish than those where I live.

 

That was just the trigger for the proletariat. Investors and close watchers of prosaic economics (how wealth moves around amongst the people - and the social attitudes impacting same) have known about it for years, and were buying up well before the pandemic. It's permanent.

 

Don't worry, Dennis, it's like that all around the globe. People are buying like there is no tomorrow because... there will be no tomorrow. Christian eschatology in action.
Ever heard of the German seer/prophet Muehlhiasl from Apoig (1753 - 1830?)? Let's see what he has to say about that global RE bubble:

P.S. Sorry, couldn't find in in English, so I had to improvise a bit with the translation.

 

Nothing to do with ideology. It's the simple reality that land will soon be the determiner of survival. It's already the determiner of your status as a have or a have-not, and is surpassing cash in that regard.

Having said that, the working and middle classes still have a few minutes left to secure something. There are still houses on land to be had in most First World nations for less than $200k - and in America there are plenty under that price tag. But it literally is the last hurrah .. right now. Anyone who doesn't act in the next 12 months is ****ed, basically.

 

Yes... the surge in the ability of people to work from home is a huge part of what has been happening here in Nova Scotia.


https://www.forbes.com/sites/caroli...27/this-is-the-future-of-remote-work-in-2021/

This Is the Future Of Remote Work In 2021

Caroline Castrillon

 

You sound like a realtor or a bankster, who wants to drive prices sky high.
OK, if you have spare $200 000 and wondering what to do with them, you can buy a house. But if you have to take a mortgage and lose your job in the coming CRYsis??
How can one be sure of paying that mortgage off?

 

IDK what is driving the Nova Scotia market. Locally here in my US city, the great real estate covid boom has peaked and the market is quickly closing in on normal time volumes again. I see a lot of listings that are people who mistimed the market and their asking prices are now way above what they will ultimately ever be able to get for the properties. Some of them are single family rentals where it took them too long to get their covid era squatters out, but by and large, people in our area even at the peak, were not paying 50% over assessed for 1970's era houses when those assessments were already upped last year.

 

I'm neither. I'm on the other side of the equation - always seeking property, and thus NOT enjoying the massive increase. Anyone who is in the market for property should be across all this stuff, and be across it well ahead of the general population.

Meantime, personal preference on payment methods is not really relevant. People who don't like or can't get mortgages, save up and pay cash (for the very cheapest properties, obviously) - assuming they're serious of course. Most who claim to be, are not. They find endless reasons why it's 'too hard', and almost every one of those reasons will be BS.

 

Well, prices are too high. That's a good reason.
If everyone starts to seek property, guess what - prices are going to rise.

The only reason to buy now is if you believe the U.S. will default on it's 28.8 trillion debt on December the 3-rd and hyperinflation would follow. Are we going to believe that?

 

You can still buy houses in America for less than $10k. Even someone on welfare can save that much if they team up with family and do serious frugality. There is no good reason not to, there are only excuses for preferring not to.

The only reason NOT to buy as soon as humanly possible, is if you believe you'll be able to keep paying high rents (and rents will increase in response to purchase prices) til the day you die. Unless you're middle-class, very healthy, and have a high paying profession .. good luck with that. Because that's what it will take to be a life renter.

 

$10K? Where is that, I want to buy one myself. It's not in a hut in the woods or a shed in the Mojave desert, is it?

Come on, man, RE is a bubble, overall. Did you forget the subprime crisis of 2007-2008? Now it's much worse because the can was just kicked down the road. Not a real solution.
On the other hand, you're right. Because on December 4-th the U.S. will default on it's debt and the party will be over. The $ will be assassinated and lose it's value. So, yes, in that sense, buy now.

 

Why would where it is and what standard it is matter? If it does matter to you, you're clearly not poor enough to be concerned about your ability to keep yourself housed when you no longer earn money.

It's not a bubble, and it's worldwide. The Rubicon has been crossed .. there's no going back.

 

I'll go along with it, if only to see a $100 bill with the Pope on it.

 

Location, location, location. Isn't that the mantra that sells property?
If the home has 100 miles commute to work, I just don't want it.

It it a bubble and it's huge. The coming crash will convince you, imho. We'll be lucky if we can discuss in this forum 2 years from now.

 

I actually did attempt to talk the Papacy into setting something in motion along that line back in 2009 and 2010.

http://greendesertstoreducecarbon.blogspot.com/

 

If you're sufficiently poor, you don't work .. thus it doesn't matter where your property is.

Having a location preference at all, is an indicator that you're not poor enough to need a rent-free home for life.

No, land will continue to increase in value for ONE reason - they're not making any more of it. The only thing that will make land less valuable than it is now, is finding a habitable planet or terraforming one which isn't.

 

Well, if you put it that way... OK. But even the dirt poor needs to eat, dress, pay electricity, heating, etc. That is to say, a roof over your head does not suffice. And even if you live in a cabin deep down the woods, imagine the gas price you have to pay just to go to Walmart. After all, can't eat just mushrooms and raspberries. Or work from time to time for that matter.
Anyway, I think we made our statements. The coming CRY-sis will decide who's right and who's not so right. Cheers!

 

Or... success of a general plan for depopulation as some
influential people seem to be advocating.......
depopulation would certainly decrease DEMAND for real estate everywhere.....



Innovating to zero! | Bill Gates
3,895,842 views
Feb 20, 2010
31 k Likes
11 k Unlikes


I am on a very, very, very different page than Bill Gates for largely philosophical reasons......


My two somewhat humorous submissions for $25 million Virgin Earth Challenge.

Turning deserts green is an altogether different goal than "innovating to zero!"

Then again... I suppose if a vaccine could greatly increase the rate of STERILITY perhaps the Bill Gates and Al Gore plan could be achieved over the longer term?????

More and more information is coming out related to graphene oxide and fertility rates.....

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7926437/

Graphene and Reproduction: A Love-Hate Relationship

 

Which still have to be paid if you RENT. Owning the place cuts your costs in half - at the very least.

 

Check what they're REALLY suggesting.

They're not spruiking private property for individuals .. they're spruiking the opposite. They want a small group/Govt to own all the land, and see all of us as life-renters. That's what's behind the buy-up of huge swathes of your country and mine, by the 1%. They want to convert those millions of acres to decentralised housing to RENT to you and I. The very last thing they want is the little people owning property. It messes with their grand plan, big time.