As you have probably heard, Irving Shipbuilding will be finalizing agreements with Ottawa in the new year. Irving Shipbuilding expects that "cutting steel" will begin in late 2012/early 2013. This means plenty of jobs for Nova Scotians (here or returning). I experienced this kind of thing in Alberta when the boom hit a few years back and as the timeline moved closer for the oil companies to open the facility doors, the Edmonton area went crazy. To purchase a home, you had to offer with no conditions at all and offer on the spot. It was a huge sellers market. I am not saying that the same with happen in Halifax but nothing is for certain. I have seen homes double in price in no time at all and become unaffordable. I expect that there will be a few phases that investors will invest in HRM:
1) Now - while prices are still affordable and properties are available.
2) After the agreements are finalized.
3) When employees start in late 2012/2013
No matter which way things go with the real estate market, aquiring this contract is great for all Nova Scotians. We may have our families and friends returning to this beautiful province. Congratulations Nova Scotia!
Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah