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Originally Posted by Simpseatles
Looks like yet another sprawl centre is coming to the intersection of Highbury and Fanshawe. Was up there the other day and the construction in that area was relentless.
My question is, who is moving into these new subdivisions? As much as I detest sprawl, at least it's a sign that a city is growing, and doing well economically, but London's economy is in the tank, and our growth rate is nearly stagnant. And it's not like you see a lot of hollowed out inner city neighbourhoods a la white flight. So what gives?
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Since I live not far from the Southdale/Wonderland intersection, I wonder too about all the new retail and residential construction going on, considering the state of London's economy.
I've also seen the same sort of thing going on in my old hometown of Sarnia, and its economy is even worse off than London's, with employment in the petrochemical sector having declined rather precipitously since the late 1970s and little new employment being generated.
The money to support all of this new construction has to be coming from somewhere. I have a theory about where it's coming from. If you look at demographic patterns, there are two major shifts going on in our population.
The first is coming from immigrants, and this trend is likely to continue since the government is trying to attract immigrants to cover critical skills shortages. The second is coming from retirees with relatively good pensions, and that trend is liable to continue as well, with large waves of retirements of those aged 55+ coming this year and over the next five years.
Those in the middle - that is, people aged 34 - 50 with families are orienting their spending to necessaries and covering the cost of putting their kids through school. There aren't enough of these families to keep the economy afloat, and since the birth rate in Canada has fallen to below replacement levels, there aren't going to be many new families coming, except in the immigrant class.