“The housing situation in the Lower Mainland is out of control and has been for some time. Heck, in Regina you could buy two houses and still be way ahead of where you’d be in Vancouver.”

“The housing situation in the Lower Mainland is out of control and has been for some time.” …
“Vancouver’s median house price was $678,500. Median income was $63,800.
If you can put up with harsh winters, other western cities offer far better value.
In Calgary, median income is $91,499 while the median price of a roof over your head is $353,700.
In Regina, the house price is $244,000 while median income is $74,200, still higher than that of Vancouver. Heck, in Regina you could buy two houses and still be way ahead of where you’d be in Vancouver.
A Royal Bank report on Canadian housing affordability on Monday warned: “Affordability measures for the Vancouver area … are inching ever closer to the worst levels in the annals of Canadian real estate.”

– from ‘Jobs and affordable housing draw young people, families away from B.C.’, Barbara Yaffe, Vancouver Sun, 4 Sep 2012

Noted for being in the Vancouver Sun.
BTW, we’re not sure if we’ll be able to continue to link articles from the Sun: they have announced they will begin to charge for access to online content. The editor stated [22 Aug 2012]: “A growing number of major newspapers around the world, including the New York Times and London’s Times and Guardian, have adopted pay models for digital content. Today, The Sun follows suit.”
This reminds one of the commercial landlords on Robson waiting (with empty stores, it should be noted) for “Rodeo Drive and Park Avenue” rents.
– vreaa

32 responses to ““The housing situation in the Lower Mainland is out of control and has been for some time. Heck, in Regina you could buy two houses and still be way ahead of where you’d be in Vancouver.”

  1. Yeah, if I’m going to pay for online content, it isn’t going to be to the *Sun*. Hilarious.

    • Death throes of the MSM.

    • The NY Times allows inbound blog links past the paywall, some others don’t.

      I’ve always found it mildly amusing that the Sun is the serious broadsheet in Vancouver. Everywhere else (save Baltimore) it’s the tabloid working class paper with the page three girl.

  2. But.. But… If the Sun erects a PayWall and Vancouverites’ personal disposable incomes are in TheDumpster… Who do they think is gonna PeelThePearsons off their roll to read those CharmingAdvertorials their ‘courageous investigative reporting’?

  3. Comparing Vancouver to Regina is just as wrong as comparing it to New York City or Monaco.

  4. The Sun is not worth 8 bucks a month.
    I’m not cheap. I pay 20 a month for NY times access. But comparing the NY times with the Sun is just sad. Just like comparing Vancouver RE and NY RE.

    • On the other hand, I just delete my browsing history and clear my cookies/data every 10 visits to the NYTimes, and I get all my access for free.

    • It’s even easier than that… Just go into “InPrivate Browsing” mode (a.k.a. “Porno” mode) and you can go into the NY Times and the Vancouver Sun without paying.

    • I usually read on the ipad so not sure how to do that on the ipad, as they won’t even let you access the other articles unless you have a subscription.
      Anyway, I’d still pay for NY Times access. It’s worth it to me and I don’t mind supporting quality journalism.

  5. “Heck, in Regina you could buy two houses and still be way ahead of where you’d be in Vancouver”

    Heck, in San Diego I could buy two houses and still be way ahead where I’d be in Vancouver. But I’d have to live in San Diego and be surrounded with Chargers fans.

  6. But then you are in Regina. Can’t be that good considering all the Riders fans that show up at BC Place when Sask is in town.

    • UBCghettodweller

      >all the Riders fans that show up at BC Place when Sask is in town.

      It’s like that in every Canadian city. As best I can tell, they’re some of the most loyal fans out there.

      • I have a soft spot for Riders fans, one game, the last of the season in 2004, had Paul Mcallum, then of the Riders, miss an 18 yard field goal and the Riders were knocked out. He was so hated he left Saskatchewan for… BC, who ended up winning two Grey Cups with him.
        http://en.wikipedia.org/wiki/Paul_McCallum

        “In the 2004 CFL playoffs McCallum missed a crucial 18 yard field goal in an overtime game against the BC Lions. The Roughriders went on to lose the game, and outraged fans vandalized McCallum’s northwest Regina home with eggs, dumped manure on his neighbour’s property, and uttered death threats to his family.”

        Rider nation. They get frozen eyelids. I’ll take the two Grey Cups McCallum kicked for the Lions.

    • I like the part where they dumped manure on the neighbours lawn by accident. Close only counts in horseshoes and hand grenades.

  7. HappyDTVanRenter

    lol paywall for the sun. bye bye web traffic.

  8. Easy to get around that .99 cents if you really want to..here is a list of FREE PROXIES..you can paste the sun on these and surf until you expire..
    http://proxy.org/

  9. I’d like to hear the stats for moves within BC, but out of the lower mainland.

    From what I’ve seen in my little mountainous perch, there seems to be a growing stream of real estate/wage refugees heading into the interior.

    • As seems to be media common practice, however, Yaffe equates “BC” with “Vancouver area.”

      And her stats for unemployment in the interior picked out the two most depressed overall areas without considering the cities (Kelowna, Kamloops, Prince George, Ft. St. John, etc.) within those areas that are doing pretty well… if not almost booming in some cases.

      Vancouver is dead-in-the-water. The rest of BC is not. Because we actually produce something.

      • LM/SW intraprovincial migration
        In Out Net
        96-97 36,299 41,299 -5,000
        97-98 36,432 40,043 -3,611
        98-99 33,008 34,848 -1,840
        99-00 33,518 34,045 -527
        00-01 32,949 33,917 -968
        01-02 33,830 36,126 -2,296
        02-03 33,545 36,334 -2,789
        03-04 32,201 35,831 -3,630
        04-05 32,486 37,172 -4,686
        05-06 30,999 36,008 -5,009
        06-07 32,258 36,514 -4,256
        07-08 31,583 35,234 -3,651
        08-09 28,682 29,742 -1,060
        09-10 30,697 30,932 -235

        These data are delayed by some time because they are based on CRA tax filings. The 10-11 data are estimated at 09-10 values and I haven’t included them.

        If there is an Exodus it won’t show up in these data for another 18 months or so, but one can see the number of people leaving for other parts of the province was higher 6 years ago. Note that immigration dwarfs this.

        Let’s take 2009-10 as an example. The number of people entering Southwest were: Immigrant+returning emigrant: 43500 Interprovincial: 23,262 Intraprovincial: 30697.
        The number of people leaving Southwest were: Emigrant: 6381 Interprovincial: 19462 Intraprovincial: 30932
        Total incoming: 97448 Total outgoing: 56775 Net: 40673

        The number of people leaving the Lower Mainland for other parts of BC was higher than outside of BC. By far the most number of people leaving the Lower Mainland were for other parts of Canada. There were more non-international migrants moving to the Lower Mainland than international migrants.

        So… who’s wagging the dog?

    • Net inflow 6,465 persons in Q1. Watch for Mr. Kenny to crank it up soon.

  10. It won’t be long before vreaa could worry the Vancouver Sun, by threatening to cut of ITS content

  11. When I was young, I rented a room from a guy who’d made some money from a land sale, come to the big city to buy a house, and the realtor said “with that downpayment, you can buy TWO houses.” So he bought a brace of townhouses. When I came on the scene he’d sold one and was trying to sell the second, with a special assessment coming up and a lousy market. Watching him sweat was a powerful lesson in the illiquidity of real estate when push comes to shove.

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