You rang?
Full disclosure – I’m from Buffalo, but I don’t currently live in Buffalo. That is telling, I suppose. Like your wife, I want to move back there, and I plan to sometime within the next 2 years.
Jobs – depends on what field you work in. Education and health are big fields in the Buffalo area. Jobs in technology have not really caught up to the national average. Finance is tricky. Buffalo is not a mecca of high finance. This might be a challenge for you, and you may have to think more creatively about job possibilities. People who currently have good jobs in finance are fairly entrenched in them, it’s not a particularly fluid field in Buffalo. I don’t think it’s impossible, I’m just trying to be very realistic.
Living/Lifestyles – one interesting thing about Buffalo is that the city is very much connected with the surrounding suburbs, yet each of the 'burbs retains its own personality. Depending what you like, you could no doubt find a suburb that appeals to you and your lifestyle. Lately, there has been much talk about an exodus from the city proper, the upside of this is that housing within the city is cheap and easy to find.
Schools – I don’t have children, so I can’t really speak to this. I know the quality of schools varies greatly from district to district. Catholic education is still alive and well in Buffalo. Private (which almost always means “catholic”) education is opted for by a fairly significant number of people, including non-Catholics.
In general, the reasons I personally plan to move back there – like your wife, I still have a network of family and friends there. Everyone from Buffalo has a network of family and friends there. I miss living in a city where I know people when I walk into a store, bar, or restaurant. Running into a friend on the street isn’t at all unusual. It’s a city that is large enough to have a variety of entertainment and cultural activities, yet small enough that it’s possible to enjoy them. I’m not describing this very well, but I always feel more like an active participant at an art show, or concert, or parade, or whatever in Buffalo as opposed to a lemming moving through a sea of millions. It’s close to Toronto. It’s close to Lake Erie, which is clean now. It’s easy to be out-of-doors in Buffalo. Boating, hiking, skiiing, skating, etc. Food is excellent, and it’s not all chicken wings and beef on weck. Cost of living is moderate. It’s conceivable that an average income family could keep a boat on the river, or horses in Clarence, or a ski share without feeling financial strain.
Downsides – crime is very high, depending where you are. Parts of the city are still very segregated, racially, culturally, by class, etc. It is almost easy to avoid these issues by avoiding those areas of the city, and I personally find that sad and creepy that so many Buffalonians are happy to go with the avoidance policy rather than try to address these problems. It is not nearly as clean as Toronto, but then again, what is? (I swear I would eat food off the sidewalk in Toronto, it is that clean.)
Things that might be downsides, depending on your personality – architecture in Buffalo can be beautiful, much of the cityscape, however, has a weird sort of “American Industrial” look. Some people find this depressing, some people find it interesting. The winter weather is obviously a factor, but probably not for Canadians. It is not a cosmopolitan city at first glance, certainly not like Toronto. However, the university community is more cosmopolitan, and there is a diversity to Buffalo’s population (although, for the most part, not so much in terms of recent immigration). The population tends to be conservative. People in general tend to like Buffalo (why else would they stay there?) so there is an annoying tendency for people to have absolutely no desire to visit Toronto, or Chicago, or New York. There is some inertia in terms of looking beyond one’s own backyard.
I think it is hilarious that you mentioned the fires. Everyone I’ve ever met from Toronto talks about this, and honestly, Buffalonians don’t even notice it.