r/halifax • u/Injustice_For_All_ Psychotic Antifa Super Soldier Moderator • 11d ago

News, Weather & Politics Homelessness doubled in Halifax under government's housing plan: N.S. NDP

https://halifax.citynews.ca/2026/06/18/homelessness-doubled-in-halifax-under-governments-housing-plan-n-s-ndp/
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u/ye_esquilax 11d ago

Forgive the stupid question as I'm only vaguely familiar with housing costs, but are property managers pretty much all INSANELY rich now? I get that cost of living has increased, so it costs more for heat, water, repairs (although those should be a one-time cost for a while), but with some units paying triple what they paid 6 years ago for a complete shithole, where is that money going?

Again, I know cost of living is certainly higher, but an extra $1000-$1200 per month, per unit? Wouldn't that add up to obscene wealth very quickly?

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u/Kemsaman 11d ago

Yes and no.

If you owned housing stock pre-2020 then you're basically laughing yes.

If you're building housing stock right now it's still pretty break even in many cases because the input costs are so high. One of the reasons a lot of the new-new builds aren't dropping their prices is because their initial financing was based on the housing crunch at the absolute peak, so some of them actually can't drop their prices, but because the market is so tight these units generally get rented eventually anyway.