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thebrownboy · 02-23-2016, 06:09 PM

People just need to wait to buy. I honestly cannot understand people who are purchasing property right now. I was about to be a first time buyer (I'm 23) but I decided to rent instead and use the money I would've used as a down payment to invest (same return that owning a house would give me).

Honestly I believe that this is all just a matter of time. When enough of Vancouver becomes foreign homes owners or uber rich CEO's and retired people, then we will see the effects and changes start to happen. (hopefully within 5-10 years). When no one is left in Vancouver to work and people decide that it isn't worth it commute an hour each way (work locally instead) then companies will have no choice but to start moving.

How many 25 year old adults can honestly afford a house/condo in Vancouver? They will be, more than likely, just fresh out of Post Secondary and/or already working a job in their field which means they'll still have student loans or won't be making much because they would still be new at their jobs. When my parents generation gets closer and closer to retirement and suddenly there's a shortage of workers in Vancouver, especially trades and technical work, then there will finally start to be some sort of Government intervention. Without it, Vancouver will be headed downhill real fast.

TLDR; it's a sellers market, not a buyers so stop trying to buy. Rent. Take the money you would use for a down payment and invest in a high yield/return bond or stock of some sort (talk to a financial advisor, you'd be surprised at the returns that are possible). Or if you must feel the need to buy, move away from Vancouver.

02-23-2016, 06:09 PM	#5047
thebrownboy I am Hook'd on RS Join Date: Dec 2014 Location: Cloverdale Posts: 74 Thanked 48 Times in 23 Posts Failed 6 Times in 2 Posts	People just need to wait to buy. I honestly cannot understand people who are purchasing property right now. I was about to be a first time buyer (I'm 23) but I decided to rent instead and use the money I would've used as a down payment to invest (same return that owning a house would give me). Honestly I believe that this is all just a matter of time. When enough of Vancouver becomes foreign homes owners or uber rich CEO's and retired people, then we will see the effects and changes start to happen. (hopefully within 5-10 years). When no one is left in Vancouver to work and people decide that it isn't worth it commute an hour each way (work locally instead) then companies will have no choice but to start moving. How many 25 year old adults can honestly afford a house/condo in Vancouver? They will be, more than likely, just fresh out of Post Secondary and/or already working a job in their field which means they'll still have student loans or won't be making much because they would still be new at their jobs. When my parents generation gets closer and closer to retirement and suddenly there's a shortage of workers in Vancouver, especially trades and technical work, then there will finally start to be some sort of Government intervention. Without it, Vancouver will be headed downhill real fast. TLDR; it's a sellers market, not a buyers so stop trying to buy. Rent. Take the money you would use for a down payment and invest in a high yield/return bond or stock of some sort (talk to a financial advisor, you'd be surprised at the returns that are possible). Or if you must feel the need to buy, move away from Vancouver.