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On another note, I don't think Jason is saying he is spending more money on rent than he could afford on a mortgage. Its that you can rent more per dollar than you can buy in vancouver. Me and my gf live right off of the ocean, have a 200 sq. foot balcony, and a nicely renovated small place overlooking the water, totally unobstructed, close to DT and pay 1400, a month. I would imagine the place would be 350 to 400k to buy + condo fees, taxes, etc. In comparison, I rent out my place in edmonton that cost me 250k, 4 years ago, for about the same price, and thats giving someone the "family and friends" discount in order to have good tenants. The rental to purchase price gap in Vancouver doesn't really balance out like other places, and thats what makes it a volatile investment.
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