Jeff at VREAA 19 May 2010 7:34 am -
“You can add me to the list of people considering leaving Vancouver. Moved here 3 years ago, have a good middle class job, partner has the same (together manage to hit 6 figures), currently renting a nice condo withviews of the North Shore mountains and False Creek. However, seems so many people we meet are struggling so it’s hard to find people to do anything with, nobody talks to you (unless it’s to ask for money), and even with $80,000 saved for a down payment, not seeing anything for sale at a price we’re comfortable paying. As beautiful as aspects of Vancouver can be, we’re starting to think other cities can offer us a much better quality of life.”
have u considered lowering ur expectations or moving out to the burbs? there are alternatives you know.
genxr I have been watching your comments and you are obviously a realtor.
While this is a democracy and everyone is entitle to his opinions can we stick to the facts ?
You are painting a different picture (I am not referring to this post specifically); after all…the bubble will burst and there is absolutely nothing you can do.
So let it be…
genxr-> Fair comment. However, you must realize that, with humans having the capacity to move, the Vancouver market has to compete with markets elsewhere. This couple have realized that they could have “a better quality of life” in other cities.
Why should they “lower (their) expectations”, as you suggest? Surely they should seek out the best quality of life that their income affords them. Isn’t that what people do?
It’s not so much that they have unrealistic expectations, but rather that they have realized that Vancouver is unrealistically overpriced, compared with other places.
One thing that I find interesting are all these people are saying the bubble will burst, and many think fairly soon … so why are so many packing up and leaving? Shouldn’t there be places at a 40% discount around the corner?
Who wants to stick around a place where property values are down 40%? That’s gonna be a lot of seriously broke people, failing businesses, no fun to hang around.
@BigE – Prices take a while to slide (as shown in the US); plus, income potential here isn’t fabulous. Given these factors, and depending on a person’s age and career placement, it may make way more sense to leave now rather than wait 3,4, or more years.
@Absinthe – Hey, I’m with you (I guess my sarcasm doesn’t come through in text). Just pointing out that the sudden and massive crash that some are predicting may not happen quite as they envisioned. Agree somewhat re: earning potential here. If I didn’t have such deep roots here (plus I do alright), I’d consider leaving for that reason alone.