[originalhypa]

Originally Posted by Adorkami

It's hard to argue with the logic of if someone else has something it means you should also... I guess that means we all get a Rolls Royce and a jet because some people have them...

Your logic is flawed.
Most of the complaints in Vancouver aren't about getting a Rolls. It's about not being able to afford living in the city that you grew up in because it's turned into a part time playground for the wealthy.

Give your head a shake, then read this.

http://globalnews.ca/news/2722364/it...an-says-study/

It takes 23 years to save for a down payment in Metro Van, says study

Another study into Vancouver’s housing market has underlined the difficulty young people face in purchasing their first home.

It now takes 23 years for a person in Metro Vancouver to save for a 20 per cent down payment on a home, up from 5.9 years from 1976 to 1980, according to a new report by Generation Squeeze.

The report, authored by UBC professor Dr. Paul Kershaw and master’s student Anita Minh, bases itsfindings on a person in Metro Vancouver making an average full-time wage ($47,178), and saving 15 per cent for year for an average home (which currently costs $812,653).

In comparison, it takes 15.2 years to afford a down payment in Metro Toronto, 14.6 years in the rest of B.C., and 11.7 years nationwide.

“When housing has become so expensive in B.C…the reality is younger adults in this generation are going to have to be proud as being renters for much of their lives, if not their entire lives,” says Kershaw.

Spoiler!

“Imagine you dream to say I’m only going to try to cobble half a million dollars – which is really is a herculean thing to do in many ways, because half a million dollars would have bought you two entire homes a generation ago – and what we’re finding is in all of Metro Vancouver, half a million dollars barely buys two bedrooms. That is a challenge, thinking about the sustainability of the region, in terms of where do we find place for people to raise families? A lot of people are joking about how they’re raising their children in their closets.”

Kershaw says that while many people compromise by purchasing homes in the suburbs, it can mean up to $200,000 in extra commuting costs over a 25-year period if they work in Vancouver.

“Here’s the reality: you can go to Pitt Meadows and Maple Ridge and Langley and Delta, and you’re still going to be finding very little that costs under 500,000 and provides you more than two bedrooms, and on top of that, you’re going to be commuting hours more a week than people used to do.

Kershaw, whose work has focused on intergenerational equity, says governments need to tax housing wealth and start treating residences as “homes first, investments second.”

“The sirens need to be blaring on fire trucks and police cars and in hospital wards, so realize that housing isn’t unaffordable in few neighbourhoods in Point Grey, Vancouver: it’s a provincial problem.”