"If I were young again, starting out in this market, I’d be elsewhere. Vancouver is not affordable."

Beatbox at vancouvercondo.info 20 Aug 2010 11:34 am -
“I stay in Vancouver because:
a) I am already settled here.
b) I own my own home and have for 23 years (purchased 1987)
c) I don’t mind the weather.
d) I enjoy all the amenities near me (restaurants, beaches, trails, skiing: downhill and cross country, access to the ocean)
e) My family has been raised here and my children all live within 45 minutes except one who lives in Austin, TX)
f) I know everyone in my neighbourhood except the quiet family down the street who no one seems to know.
g) I’ve gone to the same barber for 20 years and everytime I go it’s a great feeling to get a great cut at a great price with a rousing political discourse at the same time.
In other words, I have roots and they don’t cost me anything financially… but I am also an old fart, living mortgage-free, with adult children. I bought at a much more affordable time and have lived through ups and downs. The current price of my home is of no interest to me. It’s costing me $4600/year in taxes and that’s it.
Were I to be young again, starting out in this market, I’d be elsewhere. Vancouver is not affordable. My 26 year old son in Austin owns his home (purchased for $196,000 last year and he makes $70k a year). My other son (24) and daughter (21) rent here. There’s no way I’d let them purchase anything at this time (not that they could). Both are thinking about leaving. They have dual citizenship so moving to the states is no problem.
I have two investment properties here (both purchased over 10 years ago) and 6 rental properties thoughout Texas (DFW and Austin). Yes, my wife is from Texas. Hence the interest and experience there. We also own a vacation home in Ajijic, MX. I wouldn’t even consider for a moment buying property in Vancouver at the current valuations. Now you know a lot about me and where I am coming from.
I am curious to know why those who complain so much don’t do anything about their status.”