Quote:
Originally Posted by Great68
Historically (30 years ago when $15 an hour was considered a decent wage that could buy a house in East Van) Greater Vancouver had a population of 1.2 million.
Now it's at 2.6 million.
What did people think would happen when you try to jam a doubling of the population into the same amount of space? Especially considering Greater Van is a very geographically constrained area
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Maybe the housing doubles x inflation would be a realistic starting point.
Real estate has done probably 5x that.
Heres the thing that pisses me off about real estate investment. All it is, is rich people, buying a bunch of shit they don't need, to keep it away from people who can't afford it at the time, which drives people to push longer to afford it, only for someone to say, well I want more than what you can afford and driving the value up.
People are making millions for simply having money to take away something from someone until they are willing/can afford to pay more. Its the biggest tool in the widening income equality.
The same groups of people likely have investments in the organizations that sell you a dollar right now to pay them back 1.50 over the years.
Its a bad system, and I'd be surprised if their isn't a collapse of it entirely deeper into our lifetimes.