QUOTE (grayani @ Aug 31 2007, 08:02 PM) I`m interested in knowing if anyone has a notion of how the recent GM announcement will affect home prices in the next 6 months, and in next 3 years based on past experience when such announcements have been made?
Thank you.
Galib
www.DogCountryGifts.com
As a resident here and having seen lay offs in the past few years, I can tell you the price of homes have continued to increase. The majority of layoffs will end up being payouts for early retirement.
Don`t forget Darlington Nuclear Generating Station is going to be getting (unofficially) at least 2 new nuclear builds. This will take up to 10 years to build, then they will need to be staffed. That is a lot of Trades moving here for the build as well as the staffing.
Also, about 60% (I will confirm the percentage tonight) of the current staff at Darlington will be retiring in 6 years. OPG has begun hiring again for the first time in years. Just recently there were 100 new Engineer new hires, 47 new Mechanical Maintainers (Millwrights, Machinists); I could go on.
GM fortunately is not the only large employer in Durham.
Oshawa`s focus on improving it`s downtown core is moving forward and Oshawa, Courtice are still the least expensive housing market along the 401 in the GTA (that is why we moved here from Downtown Toronto; despite the fact that my husband worked in Brampton!).
Hope I provided some valuable info from a local perspective!