Housing 'bubble' in Vancouver
#46
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Re: Housing 'bubble' in Vancouver
The bridge and north shore and not really not that bad most of the time and beats coming from places like Abby or Maple Ridge or other highly congested places where the entire commute is congested...
#47
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Re: Housing 'bubble' in Vancouver
Why would anyone uproot their lives to live a commuting lifestyle if they didn't have to? 2 hours in a car per day is something you can easily avoid if you downsize and live closer to where you or your significant other will be working. If you downsize, you can probably live somewhere close enough where you/they can just walk to work!
All depends on what you want and if you wan't a house, that is out for most people except the highest of earners in Vancouver now if all you can afford for example if 500,000 or less, you really can't find a house in Vancouver (city of Vancouver) for that price, just condos really these days.
If I had the ability to buy, I'd rather commute then keep living in a tiny box.
Condo living is depressing and the pits, no space, no outdoors to garden in, just a box with limited space.
Not to mention is there really any huge difference between sitting in the car for an hour or sitting or standing on public transit for an hour? And many transit commutes within the city of Vancouver will take an hour or more.
If you can buy a house in Vancouver at today's prices your income is well above average and the OP hubby being a nurse, the salary is about average to slightly above average and not likely able to buy a million dollar house.
Vancouver = City of Vancouver not including the burbs like Burnaby, Richmond and the like.
Disclaimer: I have a huge hate for condo living, I had to live in them my entire adult life and frankly condo living sucks, they are small, no yard, no garden, stupid strata freaks who like to control your life. Just pure yuck.
Last edited by scrubbedexpat091; Apr 19th 2015 at 1:09 am.
#48
Re: Housing 'bubble' in Vancouver
Because downsizing means condo living, and condo living isn't for everyone and doesn't provide a good lifestyle in my view. Why live in Vancouver and be stuck in a condo with no yard, no outdoors but a balcony, in a small box?
All depends on what you want and if you wan't a house, that is out for most people except the highest of earners in Vancouver now if all you can afford for example if 500,000 or less, you really can't find a house in Vancouver (city of Vancouver) for that price, just condos really these days.
If I had the ability to buy, I'd rather commute then keep living in a tiny box.
Condo living is depressing and the pits, no space, no outdoors to garden in, just a box with limited space.
Not to mention is there really any huge difference between sitting in the car for an hour or sitting or standing on public transit for an hour? And many transit commutes within the city of Vancouver will take an hour or more.
If you can buy a house in Vancouver at today's prices your income is well above average and the OP hubby being a nurse, the salary is about average to slightly above average and not likely able to buy a million dollar house.
Vancouver = City of Vancouver not including the burbs like Burnaby, Richmond and the like.
Disclaimer: I have a huge hate for condo living, I had to live in them my entire adult life and frankly condo living sucks, they are small, no yard, no garden, stupid strata freaks who like to control your life. Just pure yuck.
All depends on what you want and if you wan't a house, that is out for most people except the highest of earners in Vancouver now if all you can afford for example if 500,000 or less, you really can't find a house in Vancouver (city of Vancouver) for that price, just condos really these days.
If I had the ability to buy, I'd rather commute then keep living in a tiny box.
Condo living is depressing and the pits, no space, no outdoors to garden in, just a box with limited space.
Not to mention is there really any huge difference between sitting in the car for an hour or sitting or standing on public transit for an hour? And many transit commutes within the city of Vancouver will take an hour or more.
If you can buy a house in Vancouver at today's prices your income is well above average and the OP hubby being a nurse, the salary is about average to slightly above average and not likely able to buy a million dollar house.
Vancouver = City of Vancouver not including the burbs like Burnaby, Richmond and the like.
Disclaimer: I have a huge hate for condo living, I had to live in them my entire adult life and frankly condo living sucks, they are small, no yard, no garden, stupid strata freaks who like to control your life. Just pure yuck.
#49
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Re: Housing 'bubble' in Vancouver
For commuters they have decided condo living isn't for them and commuting is worth it so they can have a house.
I'd consider a condo if it was directly downtown Vancouver which would never happen, but down town you can literally walk everywhere, and never need to use transit or a car. Otherwise I'd rather just live in another city that isn't Vancouver as Vancouver otherwise offers no real benefit over any other LM city.
#50
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Joined: Aug 2013
Location: Maple Ridge, Super Natural British Columbia
Posts: 2,071
Re: Housing 'bubble' in Vancouver
If there are two of you in a vehicle, you can get from Abby to Downtown in under an hour at peak times....
#51
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Joined: Aug 2013
Location: Maple Ridge, Super Natural British Columbia
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Re: Housing 'bubble' in Vancouver
I know people who commute from Chilliwack to Vancouver or Harrison to Langley every day.
Now they are mad...
#53
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Joined: Oct 2007
Location: British Columbia
Posts: 1,371
Re: Housing 'bubble' in Vancouver
Because the seawall becomes your backyard. Stanley Park becomes your back yard. English Bay and Second Beach becomes your back yard. David Lam Park becomes your backyard. I lived in a rented condo in Yaletown for 5 years (1 bedroom, no balcony but a stunning view and a block from the seawall) and it was wonderful. It's a different mindset. It's not suburban living. You do not own a yard, but you have immediate access to beaches and public waterfront and all the outdoors you'd ever want. You learn that you do not need a yard when you are surrounded with all these public parks, gardens, and waterfront. I'm just saying, it's an option. It's not the right option for everywhere, but in the right place, it can be liberating. And everything you need is within walking distance. You can save serious money by not having a car. And if you need a car for the day, there is Modo or Zip Car or Car to Go.
Last edited by Lychee; Apr 19th 2015 at 5:13 pm.
#54
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Joined: Aug 2012
Location: Vancouver, BC
Posts: 241
Re: Housing 'bubble' in Vancouver
Hi! I'm a newbie - coming out of my lurking phase to join in on this conversation!
I wonder what everyone's thoughts are about Vancouver's property market compared to London (which is actually cooling this year). And whether you'd expect Vancouver to grow at a quicker rate?
My husband and I are hoping to move to Vancouver but it's probably 2 years away as we have just started the process of getting his nursing credentials assessed. We are are under no impression that Vancouver is affordable, but it's at least cheaper than London so we figured we'd do alright by selling our London flat and bringing over the equity. Now I'm worried that the gap is going to close in the next few years which seems illogical considering London has more reasons to support the high prices - but I'm just wondering if anyone with knowledge or experience of both cities has any thoughts?
I wonder what everyone's thoughts are about Vancouver's property market compared to London (which is actually cooling this year). And whether you'd expect Vancouver to grow at a quicker rate?
My husband and I are hoping to move to Vancouver but it's probably 2 years away as we have just started the process of getting his nursing credentials assessed. We are are under no impression that Vancouver is affordable, but it's at least cheaper than London so we figured we'd do alright by selling our London flat and bringing over the equity. Now I'm worried that the gap is going to close in the next few years which seems illogical considering London has more reasons to support the high prices - but I'm just wondering if anyone with knowledge or experience of both cities has any thoughts?
#55
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Re: Housing 'bubble' in Vancouver
Because the seawall becomes your backyard. Stanley Park becomes your back yard. English Bay and Second Beach becomes your back yard. David Lam Park becomes your backyard. I lived in a rented condo in Yaletown for 5 years (1 bedroom, no balcony but a stunning view and a block from the seawall) and it was wonderful. It's a different mindset. It's not suburban living. You do not own a yard, but you have immediate access to beaches and public waterfront and all the outdoors you'd ever want. You learn that you do not need a yard when you are surrounded with all these public parks, gardens, and waterfront. I'm just saying, it's an option. It's not the right option for everywhere, but in the right place, it can be liberating. And everything you need is within walking distance. You can save serious money by not having a car. And if you need a car for the day, there is Modo or Zip Car or Car to Go.
The whole point for a backyard is to relax in private, you can't do that at any public park, nor have a pond, or anything else in a public park.
And biggest of all, I want a backyard for the dog can have some outdoor time off a leash in a safe area.
The whole point of owning in my view is to have private space and a private yard to get away from other people and the public and just relax without having to go somewhere.
If we could afford the rents downtown, I'd rather rent a house in say Abbotsford and have space.
Now if I was a professional and had a high income, and worked downtown, it would be different, but working downtown is a long shot. That is when I would considering living downtown, but if I have to commute on transit, not worth it.
I just could never deal with transit again for a commute, it's too slow, crowded and not reliable. But working and living downtown would be a different story. Just not likely to happen at a wage that is high enough to afford the prices asked downtown.
#56
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Joined: Dec 2008
Location: Vancouver, BC
Posts: 6,695
Re: Housing 'bubble' in Vancouver
Agree with Lychee, my DT friends seem to love it. I've never had an issue with transit myself.
#57
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Re: Housing 'bubble' in Vancouver
Because the seawall becomes your backyard. Stanley Park becomes your back yard. English Bay and Second Beach becomes your back yard. David Lam Park becomes your backyard. I lived in a rented condo in Yaletown for 5 years (1 bedroom, no balcony but a stunning view and a block from the seawall) and it was wonderful. It's a different mindset. It's not suburban living. You do not own a yard, but you have immediate access to beaches and public waterfront and all the outdoors you'd ever want. You learn that you do not need a yard when you are surrounded with all these public parks, gardens, and waterfront. I'm just saying, it's an option. It's not the right option for everywhere, but in the right place, it can be liberating. And everything you need is within walking distance. You can save serious money by not having a car. And if you need a car for the day, there is Modo or Zip Car or Car to Go.
#58
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Re: Housing 'bubble' in Vancouver
Vancouver is nothing compared to London, not to mention the GBP is always stellar and the loonie is only going one way.
London salaries can be over 100K GBP, here you are looking at 75K average. Vancouver benefits from overseas investors, other than that, there is NO comparison between these cities IMO.
London salaries can be over 100K GBP, here you are looking at 75K average. Vancouver benefits from overseas investors, other than that, there is NO comparison between these cities IMO.
#59
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Re: Housing 'bubble' in Vancouver
Deutsche bank is bearish "serious trouble" on real estate but you can feel the euphoria on the streets: Deutsche Bank reveals 7 reasons why ‘Canada is in serious trouble,’ starting with a 63% overvalued housing market | Financial Post
#60
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Re: Housing 'bubble' in Vancouver
And if you are actually earning pounds, it's even cheaper. Vancouver is genuinely expensive.