“In Vancouver, I can’t afford to buy in an area where I would actually WANT to live. Guess what? There are lots of other highly desirable places to live, especially on the west coast of North America.”

HomelessinSD at REtalks 14 Apr 2011 1:02pm“I couldn’t afford the Dunbar home 7 years ago and I can’t afford the Dunbar home now. You can’t buy what you don’t have money for… [In 2004], I was a few months away from getting married and my future wife was homesick.
At the time, I was working in southern California and would only consider moving back to Vancouver if the situation was right (like having a chance to own a home in a good neighborhood). I saved lots of money from 2004 and I bought in San Francisco in 2007 and we are quite happy here. I’m not bitter about not owning in Vancouver and I have absolutely no desire to live anywhere east of Main – there are better options elsewhere in the lower mainland.
So, it’s 7 years later and I like Vancouver considerably less than I did in 2004 – to the point where it’s likely I’ll never move back. You might argue that I won’t move back because I can’t afford to. That’s partially true: While I could purchase a shit-shack on the east side, I can’t afford to buy in an area where I would actually WANT to live in Vancouver. Guess what? There are lots of other places to live, especially on the west coast of North America that are highly desirable.
Homes tripling in value in 7 years is not healthy or sustainable.”

One response to ““In Vancouver, I can’t afford to buy in an area where I would actually WANT to live. Guess what? There are lots of other highly desirable places to live, especially on the west coast of North America.”

  1. You know, even for WetCoasters who CAN afford to buy what they want, where they want… the mythic idyll of ‘ownership’ has apparently lost its sheen…

    [BloomBerg] – Americans Shun Cheapest Homes in 40 Years as Owning Loses Appeal

    “Victoria Pauli signed a one-year lease last week to stay in her rental home in Fair Oaks, California. She had considered buying in the area, where property prices have slumped 57 percent since a 2005 peak. In the end, she decided it wasn’t worth it. “I know people who have watched their home values get cut in half, and I know people who are losing their homes,” said Pauli, 31, who works as a property manager for a real estate company. “It’s part of the American dream to want to own your own home, and I used to feel that way, but now I tell myself: Be careful what you wish for.” …

    http://tinyurl.com/3c2pgg8

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