Current Events > My city's housing crisis is giving me stress.

(+) Yeah! (+)

Vancouver BC, Canada. Rent is high. Buying is unrealistic unless you are from a wealthy family that can help out. I just want stability. I have a good job, and get paid very well but even I am not in a stable situation. My housing is not long-term.
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Thats why i moved rent was too damn high. Really though it is just out of control there i mean the rent for a single bedroom there is more than a house in most cities.

Sigh. v_v
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Knew it was Vancouver before I clicked this topic. Yeah, you guys are fucked.
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that's capitalism for ya
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I heard China is buying up a lot of property up there.

They are doing the same here in socal
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spudger posted...

I heard China is buying up a lot of property up there.

They are doing the same here in socal

doing it in Boston and NYC too.
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Paper_Okami posted...

spudger posted...

I heard China is buying up a lot of property up there.

They are doing the same here in socal

doing it in Boston and NYC too.

they really are trying to own the usa
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mech dragon posted...

Vancouver BC, Canada. Rent is high. Buying is unrealistic unless you are from a wealthy family that can help out. I just want stability. I have a good job, and get paid very well but even I am not in a stable situation. My housing is not long-term.

everyone living in high rent places understand your pain :(.
would like to go back to the old times when rent was 750$.
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But honestly, will this get better? Its stressing me out.
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JustMyOpinion posted...

mech dragon posted...

But honestly, will this get better? Its stressing me out.

Work hard and it will.

What? Are u serious
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Is moving an option?
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Just move inland a bit. I live in Burnaby, and it's not great, but at least it's stable.

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Dash_Harber posted...

Just move inland a bit. I live in Burnaby, and it's not great, but at least it's stable.

there's the problem. they'll start coming to Burnaby buy up all the houses. send housing prices high. we're fucked.
now i'm paranoid.
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Same thing all over, man. The market is the same in the US. Rent costs are actually more expensive than a mortgage payment for a house of the similar size and location. The only reason that everybody in the country isnt mortgaging a house is because we dont have the $60-100,000 average cost that it would take to make the necessary deposit.

With rent costs what they are, people are lucky to keep 10% of their paychecks, so saving for a down payment is almost unrealistic.
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There's no hope. Even 100km to the east of Vancouver housing prices have been pushed way up for the last 2 years. Commuting on the highway everyday is painful too.

kingdrake2 posted...

Dash_Harber posted...

Just move inland a bit. I live in Burnaby, and it's not great, but at least it's stable.

there's the problem. they'll start coming to Burnaby buy up all the houses. send housing prices high. we're fucked.
now i'm paranoid.

Not necessarily, as Burnaby is not the only option. There are basically three or four cities that could absorb the overflow (Surrey, Richmond, Burnaby, Coquitlam) and some that are further out (Langley, Abbotsford, Maple Ridge, Port Moody, New Westminister, etc). Vancouver is actually really small, but Metro-Van is massive. It's not a matter of too many people, it's a matter of too much concentration.

Ex-Kefiroth posted...

Canada and the US need to restrict the purchase of investment real estate by foreign nationals.

agree
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Flockaveli posted...

https://www.youtube.com/watch?v=bDhRBkGesLQ" data-time="
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Damn_Underscore posted...

Ex-Kefiroth posted...

Canada and the US need to restrict the purchase of investment real estate by foreign nationals.

agree

I don't really think it should be restricted to just foreigners, though. It's an issue with locals, too. Lots of investors actually use undeveloped real estate as a tax haven. They can't charge you taxes on property that isn't built, so you put your money in that and it's tax free for like five to ten years. Then when it gets built, sell it, and do it all over again.

Dash_Harber posted...

kingdrake2 posted...

Dash_Harber posted...

Just move inland a bit. I live in Burnaby, and it's not great, but at least it's stable.

there's the problem. they'll start coming to Burnaby buy up all the houses. send housing prices high. we're fucked.
now i'm paranoid.

Not necessarily, as Burnaby is not the only option. There are basically three or four cities that could absorb the overflow (Surrey, Richmond, Burnaby, Coquitlam) and some that are further out (Langley, Abbotsford, Maple Ridge, Port Moody, New Westminister, etc). Vancouver is actually really small, but Metro-Van is massive. It's not a matter of too many people, it's a matter of too much concentration.

My office is set in downtown, and my partners is in Richmond. While I could move, I havent had much luck finding cheaper rent in New West, Burnaby, Richmond, or Coquitlam near the transit line. Abbotsford, Surrey, and the rest of the Tri-Cities besides Coquitlam are our last resorts but my partner depends on Transit to get to Richmond. Im fine to drive but there is also no parking in downtown if I drive.

I guess there isnt really a solution. Just wanted to vent.
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mech dragon posted...

Dash_Harber posted...

kingdrake2 posted...

Dash_Harber posted...

Just move inland a bit. I live in Burnaby, and it's not great, but at least it's stable.

there's the problem. they'll start coming to Burnaby buy up all the houses. send housing prices high. we're fucked.
now i'm paranoid.

Not necessarily, as Burnaby is not the only option. There are basically three or four cities that could absorb the overflow (Surrey, Richmond, Burnaby, Coquitlam) and some that are further out (Langley, Abbotsford, Maple Ridge, Port Moody, New Westminister, etc). Vancouver is actually really small, but Metro-Van is massive. It's not a matter of too many people, it's a matter of too much concentration.

My office is set in downtown, and my partners is in Richmond. While I could move, I havent had much luck finding cheaper rent in New West, Burnaby, Richmond, or Coquitlam near the transit line. Abbotsford, Surrey, and the rest of the Tri-Cities besides Coquitlam are our last resorts but my partner depends on Transit to get to Richmond. Im fine to drive but there is also no parking in downtown if I drive.

I guess there isnt really a solution. Just wanted to vent.

Yeah, I totally get what you are saying.