E.G. at VREAA 25 June 2011 at 1:56 pm-
“My family and I moved to the interior of BC years ago, and we aren’t looking back. We have friends and family in Vancouver, and we like to visit. But we can’t imagine living there anymore.
Yes, we get more snow in the interior. And the temperatures are colder for about four months of the year. But during those cold months it’s raining continually in Vancouver. So pick your poison. And during the rest of the year we’re as warm, or warmer. And the sun is out so much of the time in comparison… even when it’s cold.
We can’t imagine trying to buy a house in Vancouver. And we know that if we did both my wife and I would have to work, rather than having the option of one of us home with the kids. And, not only work, but commute a couple of hours a day as well.
So we decided to live in a city where we could have time with our family and time with our community – where we wouldn’t be slaves to our mortgage in terms of our money and our time. And lots of other people here have chosen the same thing. And because of those choices by others and ourselves we can enjoy neighborhoods that are much like south Burnaby – and so many other parts of the Lower Mainland – used to be.
On top of that, people here have well-paying jobs and, with lower mortgages and lower fuel costs, they have the extra money to go to Maui for a couple of weeks in the winter. Or to get that cottage by the lake. Or… well, you get the picture.
Of course, the average Lower Mainlander will read this and say, “well, yes, but we’d have to live in the Interior.”
Yup, you would. Either the Interior or some other part of Canada.”
Most Recent Comments:
- 604x on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- Molasses on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- James on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- Nemesis on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- 4SlicesofCheese on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- LadyInWaiting on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- LadyInWaiting on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- bailinginbc on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- Real Estate Tsunami on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- Real Estate Tsunami on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- LadyInWaiting on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- Nemesis on “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
Type of Anecdote
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- 19. BlastRadiusPostCards (17)
- 20. The Limitless Demand Argument For Ongoing Market Strength (70)
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- 07 Greater Fool
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Latest Anecdotes:
- “My neighbours, in their late 60s, just put their house on the market. They had said they would die in that house, but now they are worried that with the housing market going south they may be losing a lot of equity and they better sell now before it gets worse.”
- 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.”

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and the Quote ‘O The Day?….
“I think the one thing is we need to get a message out to these young people that there is not as many jobs out here as people think. We do have Mexican workers coming in and I believe there was some from the Caribbean a couple of years ago. There needs to be a message delivered, but where and how do you deliver it?” – Osoyoos Mayor Stu Wells
[PentictonWesternNews] – Region attempts to get a handle on illegal camping
http://tinyurl.com/3kzdhnj
Sure why not? I wouldn’t buy a house there though. I still think houses are overpriced. And I know too many people in the Okanagan who have gorged on real estate debt in the past decade. Those who have been prudent may fare better, though from what I hear the economy’s not the best.
You heard right, PricedOut…
““The market is full of multi-family developments at the moment which are either under construction or built but unoccupied or unsold…” – Penticton City Planner Anthony Hadad [NemNote: & abandoned/incomplete/subject to court ordered sale]
…”City building permit reports show Penticton’s development sector booming in 2006 with an annual construction value of roughly $143.2 million, followed by $117.6 million in 2007. However, by 2009 that number had dropped to under $32.6 million…. as of May 31 the year-to-date value of construction in Penticton was only about $13.3 million, down from roughly $54 million by the same date last year.”…
[PentictonWesternNews] – City feeling effects of drop in developments
http://tinyurl.com/6xya7ru
Well, the “Interior” does not only consist of the Okanagan… contrary to the perspective of many Lower Mainlanders.
Good point, thanks!
How about the Northern Regions of BC. Man we live in a beautiful province.
I was so surprised to hear that one of the biggest problems up here is convincing high school students to stay in school. The reason: they don’t need an education to make really good money and afford to have a life, a wife, house kids, toys, etc…Night and day from what I experienced growing up in Vancouver…where a BA will get you a job at Starbucks. Living up here is a step back to a different time. When one income was sufficient to afford a good life. Where you had time to know your neighbours.
We bought our first house up here and are having a great time. The only negative would be that if we ever move back to Vancouver we will have to learn to live in a much more confined space than what we have now. 75 X100 foot lot…my garden is amazing.
Pardon me, that should have been 75 by 200…oops
i was born 800km north of whitehorse
my brother recently returned and he said he knew when he stepped off the plane in WH “i was home”
i am tempted to try it out or at least take a boot up there in the honda – my buddy was in the peace on the rigs for 14 months and made a killing.. not really my thing (i’m a huge pussy) but i make a mean latte.
Tell me more. I’ve seen Fubar II (The Mac) but other than that I don’t know too much about life up there. The snippets I have hear sound both revolting and fascinating. Seems like a rich topic for documentary but I haven’t seen it yet.
And how much do they really make up there? Is coming home with a nasty drug habit a foregone conclusion? Do they have fresh fruit?
wow..
lots of civil loyalists up there – didn’t you see the reception the royal couple got?
not that i’m a big fan of those krauts, but you know what i mean.
DerpDerp…if your buddy came back with all his fingers it was definitely worth it. And YES!, truth be told – there is so much more to ‘Beautiful BC’ than the region[s] which are normatively the focus of our discussions…
That said, the fascinating [as Spock/Nimoy would have parsed it] thing about the Okanagan is that’s it the LML in microcosm [and on fast-forward]. ‘We’ don’t call it the BlastRadius fer nuthin’…
As for the TrueNorth [ever strong&free]… it certainly has its attractions – provided you have the ‘constitution’. The last tiime I was on the shores of the Beaufort [Deadhorse Alaska] – it was minus 30F, in a blizzard… about mid June. And let’s not talk about Fort Smith NWT in January. But it is beautiful… and the natives are certainly friendly… [in their own, utterly charming, eccentric way].
I miss it.
while i’m not a fan of the extreme cold, there’s not much else i like better in the winter than a sunny day with deep snow. it’s the total silence that really gets me.
he came back with all his fingers save for the incident where he got his middle finger caught in the power tongs and it broke the tip off and pulled out his finger nail. was quite the mess, but he’s still got all of it. he went traveling in asia and latin america for ** 2 ** years and still had enough left over to go to bcit for two years and not work – he ran out of cash after year one, got in co-op employment for surveying over the summer, had to get loans for the second year, but now he is working, making a high income (not as much as the rigs, but lower-risk) and he’s choked, he can’t afford to buy a home.
when my close friends start leaving in droves, that’s a big indicator for me. of what, not sure..;)