[jasonturbo]

So it seems the spouse and I will be returning to the GVA shortly, started looking at homes to buy/rent this weekend.

I have to say, in North Van and DT Van the prices seem to have climbed a bit over the last couple years, nothing surprising though.

However, I do find it surprising how much the delta in the buy/rent ratio has tightened up considerably - obviously linked to the fact that Vancouver has a vacancy rate of .4%.

As a practical example, when we left Vancouver in early 2013 our rent was about 1750$/month for a home that would cost 450K to buy. At this time it was difficult for someone with a small downpayment to buy a condo for the purpose of renting without subsidizing their tenants. Today, a similar property with a market valuation of say 475K rents for more like 2300$/month, a scenario where it is far less likely for the same landlord under the same conditions to be subsidizing their tenant.

So in the same time period that we've seen say a roughly 6% increase in property values there has been an increase of roughly 30% in rent costs.

Anecdotal I know, but nevertheless, it's reality for me.

For this reason, and for the lack of rental options, it is far more likely that we will buy a home than rent upon our return.