Something weird that I've observed...
Sometimes, when a supercar with BC plates is posted on RS, there is inevitably someone who will say that it's owned by a rich overseas student, a drug dealer, or someone who got lucky in real estate. You don't get that kind of perception with Alberta or Ontario supercars. It just shows you how flimsy Vancouver's economy is compared to T.O. or YYC (and that has been discussed in this thread). Not directly related to real estate but RE does play a role in this.
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Originally Posted by 4444
In 2000 or so, you could buy a nice place for $200-300k, salaries were in line with what they are now, in real terms, so your dream was normal.
What we're currently in is a short term anomaly due to cheap and easy money, just like the US circa 2005 - it takes a while to unwind, but unwind it will
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Hell, I remember my dad telling me about $400k bungalows in Kits in the late 80s (he ran a restaurant out there)
I'm very disillusioned with Vancouver. All it has going for it is pleasant summers, moderate winters, you can walk around easily and its local/regional politicians aren't fucking kooks (like in Toronto or Montreal). Economically and culturally, it's a small town. Any culture that requires risktaking, whether it be food trucks, arcade bars or the Molson Indy, has been removed to create a sanitized playland for people who have made their money elsewhere. It's like Venice (California) with an earlier bedtime. And I 100% blame the real estate boom for that.
I'm finishing my degree here and then I'm out. There are so many other places I could live-LA, SF, New York, London, Hong Kong, Oslo, Amsterdam, Dubai...the list goes on. But I don't want Vancouver to be my long term home...not now. I've fallen out of love with the city.
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Originally Posted by 4444
You can do whatever the hell you want - I don't care about being right or wrong for this crowd, although many appreciate my knowledgeable viewpoint on the subject.
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I care...I care plenty. I like how you profanely smack down the idiots in this thread.