91 city's ranked on housing Vancouver comes in 90th
Jan 24th 2019, 2:01 am
#1
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91 city's ranked on housing Vancouver comes in 90th
Vancouver is apparently of the 91 city's ranked 2nd worse in the world for housing, only Hong Kong being worse. My home of San Diego ranks 80th. I am thinking may as well move to NYC at this point....lol
https://vancouversun.com/news/local-...n-world-report
https://vancouversun.com/news/local-...n-world-report
Jan 24th 2019, 12:06 pm
#2
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Re: 91 city's ranked on housing Vancouver comes in 90th
The methodology makes no sense. It's using wages/salaries paid in locations in comparison with house prices. That only works if the people owning or renting the properties live in the cities in question and that's not true in many places. For example, wages paid in Kensington and Chelsea will not get you a house in Kensington or Chelsea, most houses in Falmouth are not purchased with money earned in Falmouth, etc. etc.
Jan 24th 2019, 2:14 pm
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Jan 24th 2019, 6:11 pm
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Re: 91 city's ranked on housing Vancouver comes in 90th
Jan 24th 2019, 9:31 pm
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Re: 91 city's ranked on housing Vancouver comes in 90th
Jan 24th 2019, 11:03 pm
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Re: 91 city's ranked on housing Vancouver comes in 90th
Would be over a million in Vancouver for such a house.
This appears to be the least expensive single family home in Vancouver at the moment 998,000, needs a lot of work.
https://www.realtor.ca/real-estate/2...enue-vancouver
Last edited by scrubbedexpat091; Jan 24th 2019 at 11:09 pm.
Jan 24th 2019, 11:08 pm
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Re: 91 city's ranked on housing Vancouver comes in 90th
Jan 25th 2019, 12:30 am
#9
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Re: 91 city's ranked on housing Vancouver comes in 90th
The methodology makes no sense. It's using wages/salaries paid in locations in comparison with house prices. That only works if the people owning or renting the properties live in the cities in question and that's not true in many places. For example, wages paid in Kensington and Chelsea will not get you a house in Kensington or Chelsea, most houses in Falmouth are not purchased with money earned in Falmouth, etc. etc.
The ratio's of house prices to middle income earners in London and Toronto look accurate to me?
And yes you'd be more likely commute to both cities these days.
Last edited by JamesM; Jan 25th 2019 at 1:59 am.
Jan 25th 2019, 1:04 am
#10
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Re: 91 city's ranked on housing Vancouver comes in 90th
My examples were not intended to be from the document linked but just as places where one could not make enough money to buy a house. The houses belong to people who work, and often live, elsewhere; oligarchs in London, Londoners in Cornwall. I think of Vancouver in the same light and cannot fathom why people who want to live by the sea in Canada would choose there over Halifax. Something to do with latte or vegan noodles, I suppose.
May 28th 2019, 6:35 pm
#11
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Re: 91 city's ranked on housing Vancouver comes in 90th
For anyone interested, Vancouver and nearby cities...the market is dropping like a stone. All because of the tax on foreign buyers (mainly the Chinese buying hugely with laundered drug money). Happy days for buyers!
May 28th 2019, 6:41 pm
#12
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Re: 91 city's ranked on housing Vancouver comes in 90th
It's not dropping enough to be affordable though - but there is a lot of inventory and more buyer negotiating power for sure.
May 28th 2019, 7:08 pm
#13
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Re: 91 city's ranked on housing Vancouver comes in 90th
Dropping it is, but affordable it is not.
But then it will never be affordable for us, nowhere in BC really is.
But then it will never be affordable for us, nowhere in BC really is.
Last edited by scrubbedexpat091; May 28th 2019 at 8:00 pm.
May 28th 2019, 9:20 pm
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Re: 91 city's ranked on housing Vancouver comes in 90th
This appears to be the least expensive single family home in Vancouver at the moment 998,000, needs a lot of work.
https://www.realtor.ca/real-estate/2...enue-vancouver
https://www.realtor.ca/real-estate/2...enue-vancouver