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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 03-25-2009, 11:18 PM   #1
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Vancouver is Canada's wealthiest city: study

Vancouver is Canada’s wealthiest city, according to a recent study released by Pitney Bowes Business Insight.

The average net worth of households in the Greater Vancouver area in 2007 is $592,851 — beating out second place Toronto’s $562,173 by more than $30,000.

Calgary is in third place with an average household wealth tally of $560,332, while Victoria, the only other B.C. city on the list, is fourth with $544,542.

“The relatively higher value of housing in Vancouver is responsible for driving the 2007 results,” said the report, which tracked household wealth in 16 Canadian metropolitan areas.

The start of the economic downturn last year, however, has driven house prices down in 2008.

In Vancouver, the average value of homes dropped by 11 per cent, while Toronto saw a decline of 8.5 per cent.

Analysts also applied 2008 trend data to see which Canadian city has been hardest hit by the dramatic declines in the stock market.

Calgary topped the list because it has the highest rate of households — about 14.4 per cent — owning stocks and/or mutual funds, it said.

In comparison, families in least-hit Quebec City own only 5.5 per cent in equity investments.
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Old 03-25-2009, 11:32 PM   #2
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hongers and mainland immigrants
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Old 03-25-2009, 11:32 PM   #3
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cool and kinda sad
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Old 03-26-2009, 07:04 AM   #4
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interesting
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Old 03-26-2009, 07:09 AM   #5
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hongers and mainland immigrants
+1
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Old 03-26-2009, 09:17 AM   #6
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Did you read it was mostly real estate wealth. If you took housing out of it, Vancouver is below Toronto (and probably other cities) in wealth.

Real estate wealth was created by a massive bubble, that's correcting. Expect to see Toronto ontop next year.
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Old 03-26-2009, 09:22 AM   #7
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may be the wealthiest but also one of the most expensive cities to live in too
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Old 03-26-2009, 10:10 AM   #8
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may be the wealthiest but also one of the most expensive cities to live in too
werd

hence why im so fucking poor right now

fuck
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Old 03-26-2009, 10:14 AM   #9
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im not surprised about this at all.
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Old 03-26-2009, 10:26 AM   #10
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Thanks to my co-ownership of my property, I lowered the city's average by 0.23%
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Old 03-26-2009, 11:16 AM   #11
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werd

hence why im so fucking poor right now

fuck
nah you're just poor cuz u spend all your money on ps3 games them shits cost more then a pretty penny especially if u guys buy retail. The only retail game i've bought is sf4 cuz I had to have it. Everything else is from craigslist or rs for $40 or under
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Old 03-26-2009, 11:46 AM   #12
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werd

hence why im so fucking poor right now

fuck
move to chilliwack homie. pretty cheap out here
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Old 03-26-2009, 11:53 AM   #13
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and work in downtown? haha as if my gas bill isnt enough per month



chilliwack = chilly gone whacked




i like it tho, nice and quiet. Time to get away from all the shootings
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Old 03-26-2009, 12:15 PM   #14
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chilliwack = chilly gone whacked


I choked on my bag of chips lol
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Old 03-26-2009, 12:43 PM   #15
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Wealthiest, do they mean the highest population of douchebags?
Ok...I'll agree there..
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Old 03-26-2009, 12:50 PM   #16
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hongers and mainland immigrants
QTF.

watch the dumbshit goverment raise prices on shit now justbecuz the study say we are all rich... then fuck up ppl even more
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Old 03-26-2009, 12:53 PM   #17
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hongers and mainland immigrants
no shit

they gotta somehow spend the money they made from the poor Americans lol
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Old 03-26-2009, 01:14 PM   #18
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I choked on my bag of chips lol
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Old 03-26-2009, 02:35 PM   #19
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I hate rich hongers

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Old 03-26-2009, 03:33 PM   #20
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since the avg house in Vancouver is 900k, then the avg household is 300k in debt... since most of that 600k per household is the home equity.
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Old 03-26-2009, 04:11 PM   #21
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That sort of extrapolation from the data would be an incorrect assumption.
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Old 03-26-2009, 08:04 PM   #22
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I hate rich hongers

wow.. hyprocrite much?
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Old 03-26-2009, 08:10 PM   #23
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Stop that Honger pic. Stop.

Anyways, Vancouver should also be the most expensive city too. Jesus, our housing cost so much.
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Old 03-26-2009, 08:20 PM   #24
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Thanks for the compliment Johnny, but I am afraid I do not have the hair of those in the picture.
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Old 03-26-2009, 11:41 PM   #25
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i like how they calculate net housing wealth without counting in the mortgage and debts that those families/individuals carry with them
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