“There’s the ludicrously expensive housing prices downtown and shortage of young professionals…”
– from Welcome To Vancouver: ‘No Fun City’, Mitch Moxley, Huffington Post, 5 Oct 2012
Headlined largely for the description of the housing prices.
Read the whole article. 867 Comments, and counting.
Also see our own post on this ‘issue': “What’s REALLY Good About Vancouver?”, 14 May 2012
alx at vancouvercondo.info 15 July 2011 1:28pm -
“Got a friend who’s getting married. She and her soon-to-be husband were renting in east Van before and they talked about how rent was reasonable and houses were too costly to buy. But now that they are getting married, suddenly “buying a house” is a given.
He said he prefers a house over a condo because for the extra he pays, he can get a tenant that helps with 1/3 of the mortgage. He hopes the interest rate doesn’t go up too soon. He wants to buy in east Van.
It’s sad and telling of the times and city we live in. No one questions why we should already count on being a landlord by buying a house.
Why should interest rates stay low for a long time?
Why should crappy houses cost $1 million?
Why did this crappy house cost less than half that, just a decade ago?
No, they are not rich. They are not foreigners. Seriously, lots of (local) people buy houses around me, and they all say foreigners are making houses unaffordable. They do not see the irony in this. I did not even try to persuade them to do research. I am mentally exhausted from trying to deter people from taking on a pile of debt on an asset sitting on top of a cliff.”
Another example of a seemingly innocuous ‘family’ primary residence purchase that is based on the expectation of ever continuing supranormal price gains. With forced landlordism to boot. – vreaa
Posted in 08. Overextended Buyers, 18. Spot The Speculator
Tagged Anecdotes, British Columbia, Bubble, Canada, Housing, Life, Real Estate, Relationships, Speculators, Vancouver
bubbles at VREAA 27 Jun 201 6:45am -
“My wife and I are in our mid-30s with what others would call wildly successful careers here. We, however, hate the lack of any real economy or even culture coupled with the insecurity-manifesting-as-egomania of most residents. If I have to hear one more time about how Vancouver is the best place on earth from someone who’s never visited any other major centre in Canada (let alone the world) I’ll scream. Yes, the outdoor activities are nice, but experience living elsewhere has taught me that Vancouver residents do not have a monopoly on their pursuit. Despite the fact that it would mean essentially re-starting our careers, we are seriously thinking about moving to Seattle or San Diego or at least elsewhere in Canada. There is no way we would pick Vancouver as our home if starting again from scratch.”
Posted in 07. Avoiding Vancouver
Tagged Anecdotes, British Columbia, Bubble, Canada, Employment, Fundamentals, Housing, Life, Real Estate, Sentiment, Vancouver
Excerpts from‘Vancouver ranked ‘nicest’ city in Canada’, Vancouver Sun 28 Jun 2011 [hat-tip 'calguy'] -
“[A] survey of more than 1,500 Canadians, commissioned by the Montreal-based Association for Canadian Studies and carried out during the week of June 21, presented respondents with a list of nine major cities from coast to coast and asked them to name their first and second choice for “nicest city in Canada.” …
Twenty-five per cent of all Canadians picked Vancouver as No. 1. Quebec City drew the second most votes as Canada’s nicest city, with 20 per cent of respondents nationally. …
The overall results, noted association executive director Jack Jedwab, partly reflect the fact that Vancouver residents themselves overwhelmingly named their own city the nicest — with 94.7 per cent of those living there convinced there’s nowhere better in Canada.”
“…such “hometown patriotism,” while evident to some degree among residents from each of the cities offered as choices, was strongest in Vancouver.”
“63 per cent of B.C. residents in general chose Vancouver.”
This comment below the article from an individual representative of the 94.7%, full-patch cult member ‘len2′ 28 Jun 2011 2:34pm – “excuse me, I don’t need polls to tell me what a Garden of Eden I live in, of course this is utopia. have you ever seen the moon on the rise standing by prospect point? how about from the cap river looking west, the string of pearls across the Majestic Lions Gate with a full moon in the background or underneath the Lions Gate looking south at the beautiful span, as it disappears into a forest of green. I have had the pleasure of living in this place of breathtaking beauty for over 40 plus years and I am still in AWE and THANKFULNESS when I look around me. nothing compares. I say to all you Vancoverites get out and explore your paradise, don’t just drive around, walk around the sea walls at night, visit the parks through out the lower mainland. to me this will always be heaven on earth. biased, of course I am, who would not be.”
[Note to self: Avoid getting into a bidding war on a Vancouver property with 'len2'. -ed.]
Yes, it’s another one of those almost innumerable polls/surveys/ratings.
We don’t have access to the methodology or raw data; the actual poll results themselves doesn’t appear to yet be publicly available. The poll was “conducted last week via web panel by the firm Leger Marketing”. A “web-panel” is a group of people who have previously agreed to participate in such polls. ‘1500 Canadians’ were each presented with a list of 9 cities (Vancouver, Quebec City, Ottawa, Montreal, Toronto, Halifax, Calgary, Edmonton and Winnipeg) and asked to rank them by ‘niceness’. There also appears to have been an ‘Other’ choice.
It looks like almost all Vancouverites polled voted Vancouver #1, and that is “partly reflect[ed]” in the “overall result”. We take this to mean that the pollster is pointing out that part of the reason that Vancouver did so well is that it got all of its home-town votes. Perhaps Vancouverites actually are more invested in their city than most?
Anybody with access to the actual poll publication, please share it with us. It’d be interesting to know more about the methodology, if only for curiosity sake, and we’d like to see the actual numbers.
And, by the way, what is the rationale for funding such a study? – vreaa
Posted in 01. He Said, She Said
Tagged Anecdotes, British Columbia, Bubble, Canada, Housing, Life, opinion, Ownership, Real Estate, Sentiment, Vancouver