Vancouver Ex-Pat writes via e-mail to VREAA 21 Apr 2010 -
“I’m born and raised in Vancouver. Grew up in the lower mainland and went to UBC. I was a big booster of my City. I was one of those folks who would tell anyone who asked, and even those who didn’t, how great Vancouver was. Real estate and the free money was never part of my thinking back then in the 80′s or 90′s, I just knew I loved the town. I also knew I hated eastern Canada, the eastern media, and really hated Toronto. Typical Vancouver stuff….
Then I came to see no future for myself in the area. Salaries were low, industry was stagnant, and houses were expensive. An “average” middle class life with a detached house seemed like a pipe dream back then. Now? Fantasy… That equation didn’t work for me, so I left.
I moved to Toronto. I completed an MBA, found work at a bank and make some good coin.
You know what? Vancouver isn’t that great after all… All those years watching Tony Parsons brainwashed me to think how great my hometown was… Well, its not.. I moved here with that chip on my shoulder. Funny thing is, people here in Toronto actually like Vancouver. People here think BC is a great place. They like the Island, love the Okanagan etc… I was shocked to see how my hatred of all things eastern wasn’t matched by a hatred for all things western. Locals here in TO would ask me why Vancouverites hated Toronto. I couldn’t really answer. I very quickly came to realize how brainwashed I was. Living here, I now realize that Vancouver isn’t really all what it’s cracked up to be. Sure I miss my family, friends, the Canucks, Douglas Fir. Other cities have even more to offer their citizens. TO has an amazing theatre scene. Tons of festivals and cultural events. Imagine, the police don’t tell the citizens to stay home on New Years… And Sports? Pretty sweet… I have Blue Jays season tickets for $100. How is kool is that? I have season tickets to the Buffalo Bills for $450. Awesome. There are real things to do here, and I mean things that don’t include gore-tex. Real activities, not just the mythical ski, sail and golf on the same day crap we get fed from kindergarden onwards. But, Toronto is a fantastic city. Not only is the city alive with people and culture, but the standard of living is much higher. The salaries are better, and RE is lower. That’s an equation I can live with. Other cities in the area… Chicago? Awesome. Montreal? Fun. Ottawa? Great. Who knew there was a whole world outside of the “Greatest place on earth”?
If things ever return to normal in Vancouver, maybe I’ll move back. Until then, count me as one of the many professionals who left the West Coast for greener pastures…”
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Type of Anecdote
- 01. He Said, She Said (247)
- 02. Profiting from the Boom (441)
- 03. Changed my Life (103)
- 04. Changed my Career (38)
- 05. Where do Buyers get the money? (958)
- 06. Held my Nose and Leapt (96)
- 07. Avoiding Vancouver (375)
- 08. Overextended Buyers (1182)
- 09. Delaying Buying (315)
- 10. Demoralized Renters? (362)
- 11. Regrets about Investing in RE (417)
- 12. Effects of Development (274)
- 13. 2010 Olympics Related (74)
- 14. Social Effects of the Boom (1255)
- 15. Misallocation of Resources (958)
- 16. Missed The Boat? (236)
- 17. The Froogle Scott Chronicles (27)
- 18. Spot The Speculator (171)
- 19. BlastRadiusPostCards (17)
- 20. The Limitless Demand Argument For Ongoing Market Strength (70)
- 21. Vancouver RE-Verse [Found Poems] (8)
- 22. RE References In Popular Culture (41)
- 23. Jumping The Shark (1)
- 24. Policies On Housing (10)
- 25. Epigrams For The Bubble (1)
- 26. Premature Calls Of "Bottom" (3)
- 27. Seller Panic (3)
- 28. Erroneous Causation Theories For Falling Prices (7)
- 29. Bubblespeak (1)
- Uncategorized (176)
Blogroll
- 01 Vancouver Condo Info
- 02 AmericaCanada [retired, no archive]
- 03 Housing Analysis
- 04 RealEstateTalks BC
- 05 Vancouver RE and then some
- 06 Whispers from the Village on the Edge of the Rainforest
- 07 Greater Fool
- 08 Canada Bubble
- 09 Rob Chipman's blog
- 10 YatterMatters
- 11 condohype [retired; archives available]
- 12 vancouver (un)real estate
- 13 Agent Will's Stats [retired]
- 14 Landlord Rescue
- 15 The Economic Analyst
- 16 Canadian Housing Price Charts
- 17 Hoodsurf [retired Jun 2011]
- 18 World Housing Bubble
- 19 Vancouver Price Drop
- 20 North American Economics


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Latest Anecdotes:
- Chat Thread
- Taking A Break
- “My best guess: this property is now an ‘investment hold’ and will be built ‘when prices recover’. Good luck on that!”
- Man Loses $745,000 Vancouver Condo Deposit
- Graphic – Degrees of Housing Overvaluation in Canada
- The Rare Individual With A Negative Ownership Premium
- Advice Regarding Renting In Vancouver, Please – “Unfortunately, the Vancouver rental stock is absolutely atrocious. It just seems like every landlord is looking for someone to pay 100% of their mortgage on a crappy place through rental income.”
- “I just visited Manhattan for a week, and happened to snap some real estate ads on both the Upper West and Upper East sides of the island. Compare to Vancouver. It simply doesn’t compute.”
- Ben Rabidoux In Vancouver Next Week
- “The mortgage company told me they were calling in my 40-year, 0-down mortgage. I have paid nearly sixty thousand dollars towards it, but, nearly five years in, I have yet to touch the principal.”
- ‘Vancouver City Hall: Housing Report Card 2012′; Plus Revised Version
- “My folks find themselves at 65 still owing half the value of their home and recreation property to the bank. After almost 30 years of ownership in the BPOE and a number of boom markets, they have very little to show for it.”
- “Rent for $2,200 a month or buy and have a mortgage of $4,310 per month. Why would anyone buy?”
- “They were talking about two couples they knew who had recently bought a lot and planned to each build a house on it and live as neighbours.”
- Greater Vancouver Home Builders’ Association Annual First-Time Buyer Seminar Attendance Plummets
- Mom and Pop Get It Wrong In All Markets, Time And Again
- The average British Columbian homeowner is not going to pay off their mortgage by the time they retire.
- “He’s sold all his properties except his current one, which is now for sale. He explained that the market’s currently in crash mode, worst that he’s ever seen.”
- “One of my old high school buddies finally got her mother to sell the family home in Kitsilano – sold for over $1M, monies realized after debt paid off $185K.”
- “I know someone who just declared bankruptcy because her condo was assessed at $150k and she bought it presale north of $250k in 2005 or 2006.”
- Sturdy, With Views – “Calling Froogle Scott!… Is Dr. Scott ‘In The House’?” [Not In This One, Certainly]
- “She said the market was dead in Victoria and that it would remain so for a very long time. I asked how she knew. Her answer was fascinating and should scare the pants off the real estate crowd.”
- Kits Notes – “I’m pretty sure that this is the first 3+ bedroom property of any type that I’ve seen in the 5 years I’ve lived here that is priced below $700K.”
- “A beautiful Belfast home, in the equivalent of 1st Shaughnessy, bought at their RE peak in 2007 for £3.5 million, has now sold for £800K, almost 80%-off. The market didn’t suffer any significant economic shocks. Rates & unemployment didn’t skyrocket. They didn’t build more land. Sentiment just changed and the prices fell and fell.”
- “Two family members of hers are trapped, underwater, in condos on the East Side.”
- “Interprovincial migration is not saying good things about BC’s economy.”
- Vancouver RE: Not As Expensive Provided You Don’t Think – “It’s clear that our perception of affordability has been coloured by living on a continent where housing is unusually inexpensive.”
- More Undisclosed RE Industry Insiders Publicized As Clients – “In 1995, Allan and Karin Hoegg were mortgage-free. But no more. Today their Vancouver home is a valuable source of income as they plan for full retirement.”
- Rumor that some OV units will be reduced by 20%.
- Downside Weights On The Vancouver RE Market – “One of the older guys (over 60) mention to the guy beside him that he and his wife were thinking about selling their family home, and renting, in order to get some of the money that was locked up in the house.”
- “My buddy was looking to upgrade to a house in the Coquitlam area. With 200k extra for a home, that’s half of lifetime saving between him and his wife.”
- “I was walking in the Fraser neighborhood yesterday, I noticed that the population, on average, seem to be composed of workers. I belong to the top 5 percent in terms of income. Nevertheless, I cannot afford any of the houses for sale in that neighbourhood.”
- “Vancouver is an urban resort whose value mostly resides in its real estate and not much else.”
- “Rogers Communications is expanding into RE; aiming to relaunch website; providing critical data that can help potential buyers assess the value of a property from the comfort of their home computer.”
- I’m only 50 and I can just about retire if I want to, all because of a single simple decision – “When prices rebounded to their former highs, then rocketed another 30% higher to what I considered to be totally unsustainable levels, I decided that only a fool would pass up a second opportunity to harvest such a massive non-taxable capital gain, and in 2011 I sold my place.”
- The Vacant Lot of Versailles, Richmond.
- “I don’t think that most people think things are going to crash, just that there is going to be a slight correction, but it was amazing to me how sentiment has changed, and the fact Vancouver RE is too high was just understood.”
- “The ‘investor’ who purchased our house put it up for sale two months later, in January 1981, but the bubble had burst.”
- For A City To Have That Kind Of Vacancy, It’s Like Cancer – “Downtown, the vacant unit rate is so high that it’s as though there were 35 towers at 20 storeys apiece – all empty.”
- “What’s the worst that can happen? You can’t pay your mortgage, so sell your house! No fear.”

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sorry but i ‘d choose vancouver over toronto anytime. even with the huge premium. we have MILD weather unlike the extreme cold WINTER weather and the extremely HOT weather in the summer.
this guy is probably trying to justify his move out. =)
I’m also Vancouver born and raised. The scenario described is just like mine…UBC undergrad and MBA grad in early 1980′s. No jobs in Vancouver for my specialty (Finance). so moved to T.O. and found out Toronto has a lot to offer. I like the cold winters and the hot summers. I’ve also live in Hong Kong, L.A., New York, and Dallas…. T.O.’s proximity to Buffalo makes it easy to fly to New York, Myrtle Beach, Florida, Vegas, Europe, etc.
Would I go back to live/retire in Van? No! not after seeing what other cities have to offer and how cheap cost of living is compared to Vancouver. Over the years I’ve found that Vancouverites who haven’t lived anywhere else for a long period can’t see the forest because all they see is the big, whopping Douglas fir in front of their nose. I just tend to tune them out when they start pontificating how Vamcouver is the “best place on earth”. I’ll take New York or Vienna any day.
e-Vancouverite..and proud of it!
My family originally came from Ontario and actually miss the weather: it’s nice to have four distinct seasons each with their benefits and drawbacks, but none so long you go nuts – instead of two seasons Sunny and Gloomy, with gloomy hanging about at least five months and sometimes six.
As I said, I won’t leave Vancouver because my kids need their grandparents, and I like this area for reasons besides people. (Lack of bugs. Abundance of trees. Great hiking.) But to me, weather is the least of what the Pacific North-West has to offer: I throw weather onto the “Cons” side of the pros and cons list.
I noticed that, too, that Toronto doesn’t hate Vancouver. When I moved to B.C. I was so shocked at how much people in Vancouver hated Toronto and thought Vancouver was the best place ever, people that had never set foot east of the Rockies their whole life!!
I’m a CA, my wife is a school teacher. When she’s done her Masters, we’re out of here. Vancouver sucks – too much traffic and too many bad asian drivers, shitty weather and overpriced cost of living. Best place on earth my ass.
It is almost like reading my own story. I miss my parents, my sister and my friends in Vancouver, but I need to make a living and I have a family to take care of. This is my 14th year in Toronto. I started absolutely hating this place to embracing it today. I have more friends in TO now than in Vancouver. As for the weather, thanks to global warming, TO feels more like Vancouver 20 years ago – little snow and truly cold for only a few weeks.
Sounds like the guy is pretty fickle. You can learn to love most cities once you’ve been there long enough to see what it has to offer. Every city has its pros and cons, and Vancouver’s biggest con right now is cost of living.
@genxr: Toronto barely had a winter this year. It was colder and snowier in Washington DC than Southern Ontario. Heck, Texas had more snow.
And the past few summers haven’t been that hot either.
I’ve lived in both cities myself – Toronto beats Vancouver by miles. Not nearly the amount of druggies either.
vancouver is overrated severely – high cost of living, nothing to do unless you are into hiking/skiing and wearing gore-tex 24/4 so it’s impossible to tell whether you are a man or a woman, shitty weather (rain that lasts days weeks, months with clouds that hang so low you can touch them). Best place on earth? whatever, keep telling yourself that.
it’s May 31st and I am wearing my winter coat, cause it’s gray never-ending drizzle and 9C. this sucks.
I hear Windsor is a great place to live. Anyone care to comment about that?
I moved to Vancouver 1.5 years a go and I want to leave this place so bad.
It rains all the time, a lot of people thinks there are not better place than this. (soooo annoying!) they say everybody wants to move to Vancouver
taxes are super high…
real state…not even talk aotut it… WAY OVERPRICED….
Scenario is pretty…but it doesn’t worth it!!!!!
weather is sucks!
I lived in Toronto, Vancouver, Calgary and now I am in Windsor. It’s the best place I ever lived at. Affordable, nice people and better driver.