Rentals are tight - something like a 0.5% vacancy rate in Saskatoon, maybe 1% vacancy in Regina. There’s been several articles about it over the past six months.
Housing is booming, but pricey. Lots of new houses and construction, but it can take a long while before you can get a new house built, because there’s so much demand. Older houses are selling well, although the market has cooled off since the really hot period about a year to 18 months ago.
We’ve not been affected by the mortgage issue in the US, because our banks tend to be very conservative in their lending, as mentioned earlier, so the housing market is still strong.
and an update on the weather - Enviro Canada has issued a weather warning for Regina and the south-east corner of the Province for tonight. With windchill, the temperature is going to be below -40 until about noon tomorrow.
The main thing I’ve noticed is empty shopping windows d/t and lots more going-out-of-business-sales, so the next couple of months will be lethal for many, many shops if nothing happens. Unemployment has, as previously mentioned, increased about 10-fold since Janury -08 and most of those who still have a job (and work for private companies) have had to take pay-cuts of 10-15% to keep them.
This means far fewer people are going abroad this summer and nobody is going to Copenhagen/Glasgow/Minneapolis for a weekend shopping spree like people did quite often, just two years ago. So there’s a lot less boasting of that aswell
There was a poll that was done in November -08 in which more than 30% of Icelanders said they wanted to emigrate. The figure is probably lower now, and as you say, most people can’t move anyway since most of them are stuck with a far-too-high mortgage they can’t get out of unless they declare bancrupcy. I do, however, know quite a few people in my position (university educated, in their 20.s, childless, renting) who are getting ready to haul ass and leave for greaner pastures. And most of us have enough money to pay for the flight and the set-up in a new place, as long as there’s a job waiting for you.
Hey WormTheRed, I haven’t followed all of your threads re the crisis and your wish to move abroad so I don’t know if you’ve already brought this up, but the UK allows Icelanders freedom to visit, live and work here. Scotland will have you: the economy is hurting a little but not too badly, the drink is cheaper, the countryside is a lot greener and it’s a similar climate but a bit warmer (and there’s not many places us Scots can say that of).
I’ve actually been looking into Scotland quite a bit, mostly the oil-biz around Aberdeen though. Any ideas on industries that might be hiring (I’m a logistics and purchasing guy)?
And let me just say that I’m sooo glad to be out of the country for awhile
Saskatchewan is still hiring. I wouldn’t try Ontario at the moment unless you’re in a guaranteed niche. I know all sorts of people who have gone through layoffs or pay cuts. Maybe things will pick up in six months with all the ‘stimulus’ funding (we have a lot of streetcar lines and subways and roads to build and fix.)
In fact, things are booming so much in Saskatchewan that the Premier and the mayors of Regina and Saskatoon are going to a job fair in Ontario to attract young workers, and are offering grants to pay off student loans if they move here and stay for a certain number of years: Premier Brad Wall heading to Ontario to lure workers to Sask.
