“I’m in my mid-30s but I feel like someone who is in their 80s saying “in my day…”. The disconnect between income and housing prices is insane.”

HM at VREAA 2 Jun 2011 11:05pm“I’ve been working in various companies in the software industry and I’m seeing that there is a difference in what I’d get paid here versus elsewhere. The disconnect between income and housing prices is insane, and this is speaking as someone born in the Interior who has seen the prices go to crazy levels there. I feel like someone who is in their eighties saying “in my day….” and I’m only in my mid thirties. I remember when the coal harbour condos were just going up and seeing the sell prices at $150 – 200K and the prices they go for now is insane. I’m resolved to pretty well never buy a home, probably stay as a renter or take whatever inheritance I get from my parents (god I don’t want to be that ghoul) or move elsewhere and not buy there as well, prices across this country just seem delusional and out of touch with common sense.”

6 responses to ““I’m in my mid-30s but I feel like someone who is in their 80s saying “in my day…”. The disconnect between income and housing prices is insane.”

  1. pricedoutfornow

    I feel the same way. I have pretty much ever given up owning a home in this city. Oh well. As long as I have a place to live that doesn’t take more than 30% of my income, I am happy. Then I can live the life I want: have a decent car, take vacations, put the kids in activities etc. I know a lot of people are going to be stressed out when interest rates go up in the next few years, since they will have a hard time paying the mortgage on their pricey house. Who needs that? If prices go down (A LOT) I will buy. Otherwise, no. I can always buy a house in retirement (with cash) and get the dog and yard. People in this city have lost sight of what’s really important in life.

  2. as long as you live a happy live, that is the most important. why has to be stress out about owning and renting! and …waiting for 60 % crash!

  3. The local software industry does pay peanuts here.

  4. unclear origin

    better get used to it. People accept less for the privilege of living in this city. Renting here is a trap too. It’ll prevent you from buying a home for so many years that you’ll never catch up.

  5. Don’t you know? It’s a privilage to work for a software firm in Vancouver/Lower Mainland. Everyone wants to work for a local software firm. Frankly I think we are lucky the companies here aren’t expecting applicants to pay the company for the privilage of working for them. :P

    And yes I’m in software industry too. Based on Salaryscope.com, I’m in top 10% locally for pay for my kind of position but only 55% percentile Canada wide…..sad…

  6. We were visiting Vancouver this weekend. Driving around the Queen Elizabeth Park area, we noticed that 1 bedroom condos are going for more than our post-war bungalow would in Hamilton.

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