Quote:
Originally Posted by Tapioca
Here's the dilemma a lot of young professionals are probably facing right now. You and your partner probably make a decent amount of money, have connections (which can take years to build), and may or may not a small amount of savings or equity from a starter condo. Do you leave and take jobs in a regional centre, like Kelowna or Prince George where there's no guarantee that you'll make the equivalent salary? (one person might, but the other may not) What if you have ailing parents? Do you leave them and take flights into town every couple of months to do stuff, like take them to the doctor or cut their grass? Maybe it's worth the lower cost of living, but these are tough questions.
If you don't have citizenship or the right of abode in somewhere like the EU and cannot qualify for a TN/HB visa in the States, where else would you go in Canada? Toronto is just as bad in terms of real estate. I could fathom a place like Calgary which is at least somewhat cosmopolitan and has recreation nearby, but where else? Saskatoon? Winnipeg? Ottawa? Halifax? Sure, you could raise a family in Saskatoon, or Medicine Hat, but no one wants to retire there. As others on this forum have stated, people from Ontario dream of coming to BC.
If you're already in the market with a condo, do you cash out? Put a quarter of the proceeds into bonds and the remaining into equities and hope you obtain a return of 6-7% after taxes? Rent a basement suite for 1500/month and budget/factor in a move every 3-5 years? Or, perhaps you get on a list for co-op housing, pass the interviews, etc. and hope that a level of government continues to keep subsidizing your rent?
|
a very good point, only nuance i would say is I believe the toronto market (which is also bat shit crazy) has a more reasonable price to earnings ratio given incomes are that much higher in TO.
but then you'd have to live in TO. When I was looking to leave vancouver, i considered a number of places. None were in Canada as I just couldn't do the cold... i do agree with people that Vancouver has a quality of life premium, but that premium right now is on top of retardedness in housing prices in canada generally!