WFT? at vancouvercondo.info February 15th, 2011 at 4:22 pm–
“Just got off the phone with a university friend of mine. He is a surgeon at Children’s Hospital. He took just took a job in Bellevue, Washington. Said he couldn’t have the life he wanted in Vancouver (private schools for kids, nice house with a yard in a good neighbourhood, vacations) because of the insane real estate prices here.
The pay is about the same as here but the real estate is way cheaper. He said that after all his hard work, he can “finally enjoy the good life”.
I asked him if he feels guilty about the government subsidizing his education only for him to leave the country. He said “a little but I’m not sacrificing my children’s future for it”.
pricedoutfornow at vancouvercondo.info February 15th, 2011 at 6:51 pm– “I’ve had two doctors move away on me in the last few years. And no wonder, how would you feel if you were a doctor, after years of studying, and all you can afford is some ugly 60 year old crack shack in East Van? YES!!! All those years of hard work REALLY paid off!”
Sure, we know that people come and go. We are, after all, nomads. But unnecessarily outrageous housing prices systematically disadvantage a city like ours. In addition to those who leave, there are those who don’t come here in the first place, because of the cost of housing. We personally know of such examples: people who travel here to interview for jobs, but then decline the offer after an incredulous drive-around with their spouse. Loss of human capital is initially relatively invisible, and its consequences easily hidden under the superficial and temporary apparent advantages of a housing boom. The RE market is sapping our communities, and interfering with almost all kinds of sustainable growth. Things will equilibrate eventually after the crash, but it will take time. – vreaa