I don't understand Vancouver house prices

[Kimmio Laughterlove]

maybe more of us rich westerners will rethink the 'leave your family home as quickly as possible & buy your own home' culture & get into a more 'live in a family compound'? one of my bro's friends has done that -- they bought an old fishery plot on VI and have spent years turning it into a multi-dwelling place for their entire family...just like senior citizens can save money by not living alone but by sharing rent & cost among a group of people...

and yes, Tulip Mania is what is being talked aboot here -- namely, when the bubble is going to burst, turning all of the Lower Mainland into Mad Max, with @Kimmio as Aunty Entity

one of the problems i hear among pundits here is absent landlords -- rich foreigners (said with a thick southern accent) buying lots of property and then not using it or living in it...the Vanc gov't is brainstorming how to deal with that, without breaking laws (like how do you find out without tresspassing? etc)

I don't have Tina Turner's legs...

 

[Jaebius]

Now, tulips are usually some of the cheapest flowers to buy...will that happen in Vancouver, to home prices? In, say, about 400 years?

Vancouver house prices may in time drop, but I doubt your city's homes will ever be amongst Canada's cheapest.

 

[Mendalla]

one of the problems i hear among pundits here is absent landlords -- rich foreigners (said with a thick southern accent) buying lots of property and then not using it or living in it...the Vanc gov't is brainstorming how to deal with that, without breaking laws (like how do you find out without tresspassing? etc)

I suspect there are bigger problems with this than just inflating house prices.

My first house was a little town house and the neighbouring unit was owned by a woman who lives some distance away and rented to a young woman. Between her parties and her screaming at boyfriends and her screaming for ... um ... other reasons related to boyfriends, the tenant was right bloody pain in the ass and the landlady wasn't always much help. Not to mention the tenant was apparently supposed to look after the property and wasn't, forcing us to sic the city on them a couple times when the weeds starting getting higher than our fence

I'd hate to think what it would have been like if the landlord had lived out of country. At least with her in the same province, we could track her down when needed.

 

[Kimmio Laughterlove]

I suspect there are bigger problems with this than just inflating house prices.

My first house was a little town house and the neighbouring unit was owned by a woman who lives some distance away and rented to a young woman. Between her parties and her screaming at boyfriends and her screaming for ... um ... other reasons related to boyfriends, the tenant was right bloody pain in the ass and the landlady wasn't always much help. Not to mention the tenant was apparently supposed to look after the property and wasn't, forcing us to sic the city on them a couple times when the weeds starting getting higher than our fence

I'd hate to think what it would have been like if the landlord had lived out of country. At least with her in the same province, we could track her down when needed.

That's a stereotype, that renters are bad tenants. Homeowners can be pains in the arses too - my mom has had a few irritating neighbours in her quaint neighbourhood in a smaller city (what irritates her would not irritate me so much though because I am now a city girl and don't sweat the small stuff, like weeds, generally - I would if I was expected to but we pay high rent and that comes with the deal- some landlords are terrible at maintenance, too) . The West End here has a high proportion, maybe mostly, renters, and it's a very nice neighbourhood - especially for a downtown neighbourhood. It's mainly apartment buildings on tree lined streets, with a few houses and townhouses - but it is close to Stanley Park, the beach, and walking distance to every shop and service one needs so it is expensive - I was there for 15 years, longer, and forced out due to rent prices. They are more than double what they were then, but wages are not. Current neighbourhood is nice enough but not as nice. In most cases the landlord is supposed to look after the outer property, though, I think, unless otherwise specified. More coops would be great - and all tenants do their share of upkeep.

 

[Kimmio Laughterlove]

As the Olympics approached, prices shot through the roof and didn't come down - but wages hardly went up, either. And I think they brought more of the aforementioned foreign homeowners but I am not sure what the Olympics really did for long term residents. In the short term, they were fun, but long term?

 

[Luce NDs]

Does the urge to get rich quick without patience cause inflation?

Incarnation of avarice? Hoo death onque ID but a great toute Eire ... Gabriel? The ultimate whistle blown ...

 

[Lastpointe]

No surprise whyprices are high. Limited supply, no where to expand to. Good climate.

Proximity to China

It is unfortunate that it makes home ownership hard to get to.

But home ownershipi has generally been hard to reach. The crazy time in the USA of everyone should be able to have a house, somehow has passed to here. Not everyone can afford one. Not everyone could afford the taxes. Not everyone can afford the maintenance

For many, the solution is move away, buy an affordable little place, or rent a cheaper place, save like crazy and commute

At least now the commute can mean trains not just cars as it was when i was a child

 

[Mendalla]

That's a stereotype, that renters are bad tenants. Homeowners can be pains in the arses too - my mom has had a few irritating neighbours in her quaint neighbourhood in a smaller city (what irritates her would not irritate me so much though because I am now a city girl and don't sweat the small stuff, like weeds, generally - I would if I was expected to but we pay high rent and that comes with the deal- some landlords are terrible at maintenance, too) .

Perhaps I worded it badly or perhaps you misread me. I am not actually complaining about the renter, @Kimmio. She was who she was and could be a rather nice young lady at times. Certainly seemed to be a pretty good mother to her son and quieted down when he was there (it seemed to be a shared custody thing because he wasn't always around). I'm complaining about the owner and about the whole absentee landlord concept. A good landlady would have arranged for upkeep of the property and responded to neighbours' concerns and discussed them with her tenant rather than gruffly brushing them off or ignoring them.

 

[Kimmio Laughterlove]

There's no such thing as an affordable little place, even within commuting distance. even a rathole cost too much. And somebody has to own the property people rent - if it costs too much, so will the rent. Vancouver is not exactly close to China - there's a lot of distance. If they can afford to invest and buy foreign property they can just as easily do that in Toronto. The Olympics drove up foreign investment in property - I don't think only from China, from foreign owners with lots of money generally - but did little good for locals long term. I do not believe foreign home owners from anywhere should be pushing local long term local residents out of their homes - in many cases people who grew up here - just because they have big bucks, money that is way beyond reasonable for the cost of living. That should not be happening @Lastpointe

 

[Lastpointe]

Commuting, affordability, is all a matter of perspective.

People work in Toronto and live in Orangeville. An hour drive.

Actually my brother works in downtown toronto and lives in London ontario. Two hours away.

People make choices. Not saying that it wouldnt be nice if toronto and vancouver had affordable places just that it isnt hard to understand whythey dont. Too many people, not enough space.

As to China. You are close to China. First city in Canada that a plane will find. And yes, toronto has alot of foreign ownership too.

Guy i know sold his house in Bloor West Village of Toronto for way more than asking to a family. Cash.. Wanted it for their two children so they could live there while attending U of T. From China and to them the house was a steal

 

[Luce NDs]

Does supply and demand rule demand that rich people control the supply by buying up the resources of where people live ... due to their excess wealth allowing it? Where did they get the excess wealth ... from rich people? Or are rich people penny pinchers? Let us again address the small details ... as the cause of corp au real monsters ...

 

[Delightful Life]

Does supply and demand rule demand that rich people control the supply by buying up the resources of where people live ... due to their excess wealth allowing it? Where did they get the excess wealth ... from rich people? Or are rich people penny pinchers? Let us again address the small details ... as the cause of corp au real monsters ...

maybe it is analogous to something like imagine a riparian scene (river/stream) -- everything there, plants & animals, have been living, being born, dying there for years
then some beaver move in
dam the stream
what ends up happening? does everything go how it was going? do some animals & plants not survive? do some of them have to adapt?

 

[Luce NDs]

Does create a deep pool from which someone can devise a dark story to scare the crap out of those questioning ... I think ... but not confident because of all the lyres a truth cannot accept much ... of it could hurt as it doesn't work out!

Thus even the eternal changes to avoid mortals ... in a sort of weasel-like way ! Thus light waves ... few can see this!

 

[Delightful Life]

Does create a deep pool from which someone can devise a dark story to scare the crap out of those questioning ... I think ... but not confident because of all the lyres a truth cannot accept much ... of it could hurt as it doesn't work out!

Thus even the eternal changes to avoid mortals ... in a sort of weasel-like way ! Thus light waves ... few can see this!

like i'll have the crap scared out of me when the Big One hits
something completely natural
something with a historical record that we know aboot
that has happened more than once
we get used to our worlds...and then when things change (and they do)...the Jews definitely know aboot that (the title of their holy book could be "Pain Will Come")

 

[Luce NDs]

Is the Big Bang a metaphorical splash or just springing up of things leading to continuum?

Appears to be blindly acquired by people in emotional downs ... below the horizon of cognizance and thus the claim for virgin conception ... that which was incompletely understood due to lack ... or what's devoid! Good sense?

 

[Delightful Life]

well i'm definitely not going to be like Sigourney 'get away from her, you bitch!' Weaver
i'm going to be more like Bruce Vilanch
and so it goes

 

[Mendalla]

Actually my brother works in downtown toronto and lives in London ontario. Two hours away.

Ouch, that's quite a commute. He take the train or drive? I'd do the former, probably. Could not stand to do that drive daily.

 

[ChemGal]

There's no such thing as an affordable little place, even within commuting distance.

In Alberta, those options tend to be much easier to find. It's funny, with Edmonton I have always though of them being part of the GEA - although I will say that St. Albert isn't too much cheaper than Edmonton's suburbs but the land plots are a fair bit larger. There are also that I don't really think of as being GEA (many stats do) as they are a bit further out, like Fort Saskatchewan. Chemguy actually works with someone who does that commute - when he isn't working from home.

I don't really think of Calgary having a greater area that includes towns. I think of Airdire, Okotoks, etc. separately. During my days working at Walmart there were at least a handful of coworkers who made the commute from Okotoks or some were a bit further on farms.

Those commutes would be easier IMO than getting to Toronto. The highways aren't as busy. I suspect the percentage trying to get downtown is also less here than Toronto. Transit wouldn't be as good though - Calgary had nothing set up I believe. Edmonton's transit does work with some of the areas, but it's bus.

Chemguy had the opposite, he used to work in one of the industrial areas outside of the city and I think his commute was about the same time as it is now, during rush hour.

 

[Kimmio Laughterlove]

In Alberta, those options tend to be much easier to find. It's funny, with Edmonton I have always though of them being part of the GEA - although I will say that St. Albert isn't too much cheaper than Edmonton's suburbs but the land plots are a fair bit larger. There are also that I don't really think of as being GEA (many stats do) as they are a bit further out, like Fort Saskatchewan. Chemguy actually works with someone who does that commute - when he isn't working from home.

I don't really think of Calgary having a greater area that includes towns. I think of Airdire, Okotoks, etc. separately. During my days working at Walmart there were at least a handful of coworkers who made the commute from Okotoks or some were a bit further on farms.

Those commutes would be easier IMO than getting to Toronto. The highways aren't as busy. I suspect the percentage trying to get downtown is also less here than Toronto. Transit wouldn't be as good though - Calgary had nothing set up I believe. Edmonton's transit does work with some of the areas, but it's bus.

Chemguy had the opposite, he used to work in one of the industrial areas outside of the city and I think his commute was about the same time as it is now, during rush hour.

Not easier to commute if you don't have a car or don't drive. in Edmonton you pretty much have to drive. And in many "winter" cities. I can move wherever I want now...but I wouldn't live there, only visit. In many cases owning and maintaining a car, or here, buying a 3 zone transit pass for the train/ bus just negates the small savings on rent in the outskirts, if one works in the city. I personally have no dream of owning a house, especially not in the suburbs (a downtown condo would be nice) and looking after a yard constantly...that's not something I'd enjoy. I don't necessarily mean gardening, but lawn mowing and weeding is just too much constant work. I'm a city girl through and through, now. I'd like a little place that's my own with some plants on the balcony - otherwise I am happy to rent and do the same (there are benefits to renting) - and have the freedom to move more easily - except not at these prices. They are insane.

 

[Jaebius]

Toronto's blessed by being the Canadian city with a subway system. Many people here in the city don't even own cars anymore. People like to complain about the TTC, but actually it's an excellent system.

Note: map shows proposed future version of the subway.