[buhdeh]

Yeah, don't worry. I heard Vancouver was the best city to be in economically.

Originally Posted by Traum

^^ True, but I'd say the important questions to ask are:

- When will that happen?
- When it finally happens, what sorry state will the city be left in?
- More importantly, what sorry state will the city's residents be left in?

As far as I can see, the future for Vancouver and its residents look very grim. We already have RE property prices that are beyond the reach of regular working class people. As a result of this, families' disposable income gets stretched to the limit, and you see the core / pillar age groups (late 20's to early 40's?) either moving away to raise families, delay their family planning, have fewer children, etc. None of the vast ripple effects down the line are good -- schools enrollment drops across the board over the next 15 - 20 years, employment opportunities diminish, the average age of the population grows (meaning higher medical expenses for the government with fewer people to support the tax base), etc. just to name a few.

Vancouver is my home and I love it to death. It breaks my heart to see this beautiful city heading towards a downward spiral.

Don't forget all the brand new office towers sprouting up with no tenants.

https://www.biv.com/article/2016/3/w...office-market/
https://www.pwc.com/ca/en/real-estat...te-2016-en.pdf

There also are some concerns about office vacancy rates, which at 10.4 percent in the second quarter of 2015 are Vancouver's highest in a decade. The high cost of living is making it harder to attract head offices and other major firms to the city, and it's not at all clear how long it will take for the market to absorb all the space that is available now-or becoming available in the next year.