Comment 30787

By jason (registered) | Posted May 05, 2009 at 16:58:46

more people 'want' to live in Burlington, but so far only 100,000+ have made the plunge?? Great theory.

I'm glad to hear Everson speak about quality of life issues finally. He could have clued in about 10 years ago, but whatever.... I'm sure it'll be the status quo for a while still.

While there is some truth to higher house prices indicating 'desirability', it's not always the case. Sometimes it indicates people's ability to be sold something by developers.

For example, an identical home just over the Ancaster border along StoneChurch Rd costs over $100,000 more than the identical home at Stonechurch and Omni. It's 30 seconds away.
There's a reason mortgage brokers have made jokes about the 'meadowlands mortgage' over the past several years. They, and anyone paying attention, could see that home values were grossly overpriced. Hence, last year the meadowlands and upper stoney creek saw the largest decrease in home values in the entire Hamilton area.

People can get sold a bill of goods by anyone looking to make a buck. That doesn't necessarily make their area more desirable. It means they have bought into some advertising....a quick recession quickly corrects that.

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