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Originally Posted by ssiguy
Atlantic Canada will continue to struggle with the notable exception of Halifax. Their quickly aging population and very slow overall population growth will reinforce their reputation as quaint, picturesque, and a place to move from.
Quebec will continue to do well and it`s fortunes will increase led by Montreal which has hit it`s stride. The provincial finances are finally back in order and the province is again seeing more immigrants and crucially more of it`s young are staying put and many returning.
Ontario will do well as it is the natural place for immigrants and it has the fastest growing population in the country. It will ween itself off it manufacturing backbone {although it will still always be important to the provinces economy} but it`s huge high tech sector will more than compensate. Toronto will continue to roar ahead and it will become even more prominent than it is now and it`s over flow of people to other areas will help them which is happening now as many leave for more affordable and liveable alternatives outside the GGH such as London and Windsor. Ottawa with it`s high tech and endless government largess will always do well.
Manitoba and Sask will just conitnue doing `OK` with no big boom or busts but the poverty and crime plaging their huge Native populations will be a challenge.
Alberta I am far less optimistic about. Alberta is a natural resources economy based primarily on oil............the product that everyone loves to hate. It`s glory days are over and though will be needed for at least 100 years it`s primary usage in transportation will decline pricipitously. Alberta and Albertans just can`t get their heads around the idea that oil is a dying commodity and the return of another oil boom will not materialise, ever.
BC is an open book. Certainly the northern areas will boom due to the LNG but Vancouver is in for a rough ride, at least in the short term. It`s reliance on a real estate fuelded economy has greatly hurt the city`s other economic sectors. The outrageous price of housing will coninue to force the young and educated to flee the region and others not willing to move there. BC`s biggest economic challenge is it`s critical shortage of labour made almost exclusively by the fact that workers can`t afford to live there especially young ones. A huge crash in the price of housing is needed to hold those precious workers and entice new businesses but it`s short-term effects could be devestating.
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Interesting, I disagree with a few of these.
For one thing, I think Toronto's growth will end up leveling off. Much as has occurred in New York City (which is growing quite slowly now), eventually size becomes an impediment rather than an opportunity for city's growth. As congestion, costs, and so on rise with the city's population, people begin to look elsewhere. So Toronto will remain the most important city in Canada, but it has a peak to hit. That being said, I don't think it's all that close to its peak yet.
Another thing, you say Saskatchewan will continue doing just okay. This surprises me, considering Saskatchewan is booming right now haha. I have no idea if this is at all sustainable, but just caught my eye.
And finally, I think BC will be okay too. Housing prices are already retreating, and I'm confident this will continue to progress. If anything, I'm surprised at how smoothly it's going. We'll end up with a correction which will help BC attract new companies and industries, and hopefully bring it back to normal - strong, but organic, growth.