Quote:
Originally Posted by westopher
I'm starting to get really confused about where all this money comes from. Are like 95% of the people in this city making 6 figures a year? I understand about the foreign investment. The local investment. The rich people with second, third, or fourth homes here. The landlords. The old money. But as the ridiculous prices keep spreading outwards from the actual desirable areas, seriously, something has to give. Paying a million dollars for a townhouse in burnaby is a fucking laughable prospect. Its completely panic driven purchases.
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I recall a report a couple of years ago which was either for Vancouver or BC (sorry, can't recall) stating that only 5% of workers earn >$100,000
That's slightly scary that 95% of workers (let alone those that don't work) earn less than $100,000.