Sign in to follow this  
Harry

Getting A House In Vancouver

Recommended Posts

Harry
Is it just me or has anyone felt this city growing significantly the past 2/3 years?? seems to be getting busier...

Coldenuforyaeh,

don't you want to put your Canadian location in your profile? One is left having to conclude from the above that your are likely located somewhere near Vancouver. This leaves the folks that are still in SA in a degree of confusion as to who they should ask on what subject.

I agree Vancouver is a tough house and job market where no-one gets a job by applying for it. It is near 100% networking or word of mouth with a few notable exceptions. And, yes, housing went through the roof into the mindless lunatic domain. Three years ago I still promoted Vancouver to folks despite the housing. I no longer do that. I think folks should seek a new life elsewhere. Maybe Beverley Hills in the USA is crazier, but I seriously wonder. With very nominal houses here in Deep Cove going at $800,000, and jobs paying $60-80k, I cannot tell folks that it is sensible to shoot for anything near Vancouver anymore. They should try up the Fraser Valley if they want the benefit of the climate.

Thing is that one can get high quality housing in Surrey and Langley if you'll accept the commute. It is NOT like the rest of Canada...it is more like the rest of BC, but STILL with a vastly more moderate climate. And you can still get to the Festival of Light if you are prepared to leave home 2 hours earlier.

Share this post


Link to post
Share on other sites
Alwyn

Isn't growth of Vancouver severely limited by its location? If so then I guess it can only go down in the rankings as it continues to grow.

Share this post


Link to post
Share on other sites
coldenuforyaeh?

And that's exactly my point regarding location, Harry (I didnt claim Surrey is like Hamilton or Lethbridge for that matter). The climate may even be slightly better out in Surrey or Langley as they get less rain there, but you're sure not getting the Vancouver experience unless you have the time and patience to commute. 2hours?? Thats just about tantamount to Sun City being part of greater Johannesburg. The reality is that unless you work in the city and/or have a compelling reason to commute regularly you may as well, barring climate, live anywhere else where housing is more easily accessible. You could live in Calgary where you earn more dollars and get way better value when it comes to housing. With all those savings you could fly out here and live it up during the Fireworks, and then some.

Share this post


Link to post
Share on other sites
BevBrad
Also, when is the last time The Stones played Ottawa?

On that basis Halifax must be "the" place to live then. The Stones played here last month :) I still have not figured out what made them pick Halifax though. They had just played at a small New England town so maybe they are deliberately picking smaller towns (trying to get them "Stoned" maybe ?).

Share this post


Link to post
Share on other sites
Alwyn

Stones only got around there now? It must be myth that a rolling stone gathers no moss.

Share this post


Link to post
Share on other sites
Harry
On that basis Halifax must be "the" place to live then. The Stones played here last month :D I still have not figured out what made them pick Halifax though. They had just played at a small New England town so maybe they are deliberately picking smaller towns (trying to get them "Stoned" maybe ?).

They also played Kelowna some years ago, I believe! ;)

Share this post


Link to post
Share on other sites
Harry

Vancouver's Housing Market starts levelling out

Vancouver, B.C. Oct 3, 2006

The Real Estate Board of Greater Vancouver (REBGV) reports that total residential sales for detached, attached and apartment properties reached 2,519 units in September 2006, a decrease of 24.7 per cent compared to the 3,344 units sold in September 2005, and a 11.5 per cent decrease compared to the 2,845 sold during the same period in 2004.

New listings for detached, attached and apartment properties increased by 11.4 per cent to 5,115 units when compared to the 4,590 units listed in September 2005.

"We're moving towards a balanced market, a balance that brings greater stability to buyers and sellers throughout the Greater Vancouver area," says REBGV president Rick Valouche. "We're finally seeing an increase in inventory and that is great news for buyers in our active market.

You can see all this stuff in more detail, along with great analyses of real estate HERE.

Share this post


Link to post
Share on other sites
Joleen

Hi

I am new to the forum and have loads of questions, but my biggest concern currently is housing, as Karen has put my mind at ease with all her info on schools, etc. My husband got a job offer in Vancouver (airport). My husband's new employer will do all the paperwork and we'll be landed citizens when we arrive. At this stage we are looking at Ladner or Steveston, with last mentioned the favourite as all the activities/clubs my children like seem to be concentrated on Moncton Road.

1. Can you point me in the direction of a trustworthy agent, one perhaps known to you? (I have already surfed all the sites mentioned in any previous postings!)

2. What must I look out for: the wooden houses are still something I must get used to and I will have to change my mindset about brick versus wooden structures... I am quite horrified to see what I can get with the money I can get out of the sale of my SA house!

3. Any typical Canadian potential pitfalls (if I can call it that) I must look our for?

4. Are the ethical rules for agents about the same as in SA so that you can expect that he/she will tell you about problems with the house?

5. How long does it normally take from signing the contract untill the house is registered in your name? The new employer wants us to do an LSD trip - at their expense - (my husband already did one last month with the interview) with the sole purpose to look at houses so that we can move into our new house when we arrive. I would rather wait - I am by nature sinical and cannot believe that all the paperwork will be done so quickly and then we sit with a house and a bond in Canada with us still in SA.

6. Any other info will be appreciated.

Share this post


Link to post
Share on other sites
Karen

Hi there,

I totally agree with number five - not rushing to buy a house until you are sure where you want to live. You will only know that after being in place for a while. I think that renting, at least initially, is not a bad idea at all. It will take the rush factor out of buying and give you a chance to really look around at different homes and areas.

As your home is probably your largest asset, you do not want to land up with something you have not thorougly investigated and really like. My advice to you would be to be here at least a year or two before jumping into the property market. I doubt very much that prices are going to rise much - if at all - they may even drop - in that time and you will be able to make a much more informed decision after having experienced life here for a while.

House closings ( when you take possession) are variable and largely determined by the seller. Once the lawyer has found the home to be free of any liens, and you have secured your mortgage, it does not take very long for the paperwork to be completed.

Lots of luck with the big move to Beautiful BC!

Share this post


Link to post
Share on other sites
Joleen

Hi Karen

Thank you for your answer and thank you also for all the info on the forum about schools in Canada. That was my biggest concern, as I have 5 kids, with the eldest 16 years old and currently in Grade 10. You put my mind to rest about taking him out of the SA system and into a totally new one in the final push of his school career.

I have no problem with renting but would like to immediately move to the right suburb so that my kids can stay in that school until they all move on to university or whatever. I'm already pulling the rug under their feet by transferring them out of their comfort zone to a new country and do not want to do that in a year's time again (although it may then just be to a new school)

Also, part of our family is 2 dogs and 2 cats, definately not a model family as far as renting is concerned! (The tortoises are staying behind!)

I have done a lot of research on the schools and it was suggested that I chose a school (and thus a suburb) where the (secondary) school follows the semester system in that they have modules which they finish after a semester as opposed to a year long system. That is because we expect to be relocating in December, which is in the middel of your school year.

I have found a school in Steveston which follows that system, (McMaths) I'm still looking into the school in Tsawwassen, as the one in Ladner follows the year long system (Delta). (I haven't checked out North delta schools yet.) According to Google map those are the areas which are closest to the airport (driving time) -between 20 and 26 minutes. My husband will be working there.

I am also looking into specific subject, notably Information Technology - the SA curriculum on IT seems to be a little bit different from Canada's???

Do you have ANY suggestions which may help - am I looking at the whole thing the wrong way round?

Also, what is the difference between a single house, a garden home and a rancher?

I know that we will have to put down a deposit of at least 20%, but can you tell me how to work out the maximum loan that will be given if you do not take the down payment into consideration, but just look at your salary? (I know in SA it is roughly 25% of your salary)

Any trustworthy agent I can contact? My husband's emplyer will put us up for three months to look for a house; but I would like to start the process. Even so, I need that house to be in the area where my kids will go to school!

Joleen

Share this post


Link to post
Share on other sites
Karen

Hi Joleen,

As I live in Toronto, and things are a bit diiferent here from the West Coast, I think I will leave your questions re housing and estate agents to those who live there and are in the know about homes and areas.

Good luck with everything and it will all turn out well.

Share this post


Link to post
Share on other sites
DarrellL
Getting a house in Vancouver

This issue comes up so utterly regularly, that I think there is merit to giving it its own topic, and providing a compendium of information for folks.

The lay of the land, and why it matters

Vancouver is dominated by MOUNTAINS and WATER

Mountains cut the Lower Mainland off from the rest of Canada, and the only way to get to the rest of mainland Canada in winter, is across major mountain passes with serious snow, or by using ferries up the coast. The very same mountains also cut Vancouver off from a lot of the cold air that tortures the rest of Canada in winter and leaves the city under the moderating influence of the Pacific Ocean. Also, with the great ski-facilities and scenery on the mountains outside the city, the mountains in themselves are a huge attraction. This is why so many people want to live in Vancouver and why the house prices are high...the demand is great.

Secondly there is water...lots and lots and lots of water. We have not only the Fraser River, which complicates things further by breaking up into a delta and creating various islands in its lower reaches, but also the Burrard Inlet with its offshoot, the Indian Arm. This is actually the southernmost fjord on the planet, but it is now dead as a fjord...no more scouring rock and ice. Now it just looks beautiful and causes a traffic nightmare. On top of all this the Pitt river chooses Vancouver to join the Fraser.

The picture shows a view north up the Indian Arm. See those mountains!? There is no way you are getting through them in a car! The Burrard Inlet continues to the right towards Port Moody. The city is to the left...West. Read about "Contigua" below

iarm1.jpg

The result is that Vancouver's roads and traffic are utterly dominated by the bridges over these water masses and the tunnel under the Fraser River. Huge tangles of roads come together just before some of these bridges, leading to massive congestion.

The following map of Vancouver demonstrates the issues:

vanmap.jpg

The highly sought-after places

Some places are just really beautiful and everyone wants to live there if they can and they are awfully expensive. The two prime examples are West Vancouver on the North Shore, connected to the city by the Lions Gate Bridge, and Vancouver West, particularly the Point Grey area next to the University of British Columbia. Few, if any of us, are ever going to end up in one of those places. Both of these epitomise the tourist image of Vancouver.

EttienneG lives in West Vancouver and has posted a description of West Vancouver HERE for you to read. I'm not aware of any members in Vancouver West.

The bridges of Contigua

"Vancouver" is actually comprised of a number of independent cities, each with its own municipality and mayor. Not all are organised quite the same way, as far as I know. Local experts here can let me know where I get this wrong and then I'll fix.

A quick look at the map shows that Vancouver City itself and the cities of Burnaby, New Westminster, Coquitlam, Port Moody and Port Coquitlam are on one land mass, stuck between the northern flow of the Fraser and the Burrard Inlet. However, at Coquitlam/Port Coquitlam a tributary of the Fraser, the Pitt River, manages to cauterise this piece of the mainland and cut it off from the rest of Canada. Remember that, to the north-northeast, the Coastal Mountains ensure that there are no roads possible. SO, in a way, this major chunk of "Vancouver" is like an island by itself, cut off at one end by mountain rather than water. There is no way across other than the bridges. I'll call this chunk of land "The contiguous part of Vancouver" or just "Contigua"

For the easiest commute, you want to live on Contigua, because then you never have to cross any bridge to get to work. Most employers are on Contigua. However, Contigua also contains the oldest parts of Vancouver and, if you are ever going to see a not-so-nice part of Vancouver, you are going to see it on Contigua, probably as part of the City of Vancouver. Major parts of the City of Vancouver are not-so-nice and the same is true of parts of Burnaby. Conversely, both have really great areas. The City of Vancouver has Point Grey, after all ( see above)! The longest commute you are going to have on Contigua would be of the order of 45 minutes.

The North Shore of Vancouver is comprised of West Vancouver and North Vancouver. Actually, North Vancouver is subdivided into City of North Vancouver and District of North Vancouver, but don't let that bother you...I live in Deep Cove in the "district". West Vancouver is separated from North Vancouver by the spectacular Capilano River Gorge, which has only two serious car bridges across it (plus one shortcut to the Park Royal Mall). West Vancouver is joined to Contigua by the famous Lions Gate Bridge...an international Canadian landmark.

lionsgatelanes.jpg

North Vancouver is joined to Contigua by the Second Narrows Bridge which is actually properly called the Iron Worker's Memorial Bridge, after a number of construction workers died during its construction when the partially built bridge collapsed.

5-06-14narrows.jpg

The Lions Gate Bridge is actually rather small, having only three lanes. The middle lane switches in direction. The Second Narrows Bridge has three lanes either direction and carries the Canadian National Highway 1. When these two bridges are out, North and West Vancouver become cut off from the Rest of Canada ( unless you want to try a trip over the mountains via Whistler and Lillooet, an 8-hour trip around to the rest of Vancouver...and it does happen. The Seabus can take pedestrians across the Burrard, but not cars.

Contigua is joined in the east to Pitt Meadows and Maple Ridge, on the north bank of the Fraser, via the Pitt River Bridge. This is another counter-flow-lane arrangement that switches direction on some lanes between morning and afternoon. However, when you cross to Pitt Meadows and Maple Ridge, you are stuck on that side of the river until you get to the Albion Ferry much further east. The Pitt River Bridge is therefore a BIG DEAL.

You can cross the Fraser over the Port Mann Bridge from Contigua on the National Canadian Highway 1 to go to the huge spread-out suburban areas of Surrey and Langley. This is the main arterial route of "Vancouver" and Canada. Unfortunately some clown tries to jump off there every now and then and then holds up hundreds of thousands of people and causes 10-15km traffic jams. I have no idea why they choose the Port Mann. The Port Mann Bridge is another Big Deal.

To the south, one can cross from Contigua to Richmond over three bridges. One is near the airport and carries the big Highway 99 from Seattle. This is the Arthur Laing Bridge. Further east along the Fraser sits the Knight Street Bridge, which, appropriately, carries Knight Street! Yet further east is the Queensborough Bridge which crosses the Northern (smaller) run of the Fraser to join the part of New Westminster that is on Contigua, to the part of it that is on Islands in the Fraser.

The heart of New Westminster is joined to the heart of Surrey by the Patullo Bridge, which is pronounced exactly the opposite way round: "Putallo". I have used all of these bridges, but, in my five years in this city, I have never had occasion to cross on the Patullo Bridge.

There are more bridges in Vancouver. The truly impressive Alex Fraser Bridge takes one from New Westminster across the larger southern run of the Fraser River to the eastern section of Delta, adjoining Surrey. This would be the main route taken to the USA by many people from Burnaby and Coquitlam and even North Vancouver.

5-06-14alexfraser.jpg

Further West, Richmond is joined to Delta by the George Massey Tunnel, which goes underneath the large southern run of the Fraser River. Both of these structures are wholly OUTSIDE Contigua.

Then there are still the three Bridges that link the Downtown area to the rest of Vancouver City: The Camby street Bridge, The Granville Street Bridge and the Burrard Street Bridge. However, they are wholly inside Contigua and can be bypassed if so required. The picture shows the Granville Street Bridge in the foreground, and the Burrard Street Bridge behind it.

107bridges.jpg

The actual "suburbs" and houses

Port Moody, Coquitlam and Port Coquitlam form the co-called Tri-Cities area. It would be the "Bellville or Pinetown of Vancouver", so to speak..the main feeder-city. Your commute from there (Port Moody) to work ( in say Burnaby) is typically 30-40 minutes. I would consider the Tri-Cities area the mainstay suburbia of Vancouver. All the shops seem to be bigger there. You also get better deals if you shop there.

Surrey is across the Port Mann bridge over the Fraser River. That bridge is the source of a major delay in the commute. Many tens of thousands of people ( if not hundreds of thousands) do that commute every single day, and we have quite a few ex-SA folks here that live in Surrey. There are lots of new housing developments there that are really superb and well-priced.

Maple Ridge, north of the river, and Langley ( south of the river, are getting towards "outlying", though huge numbers of people commute from there every day. House prices drop significantly as you cross eastwards over either the Port Mann bridge ( to Surrey and Langley) or the Pitt River Bridge ( to Pitt Meadows Maple Ridge). From hereabouts you are talking an hour or more commute to work...the lower house prices you exchange for bigger gasoline bills.

White Rock, in South Surrey (on the US border), and Tsawwassen ( "too-wassen") in Delta, are both stretches of suburbia that are much sought after. Both have much more sunshine and less rain than North or West Vancouver, because they are quite far from the mountains. White Rock ends up being a bit more expensive. A lot of high tech immigrant families that I know of have ended up in Tsawwassen, because the commute from there to to Richmond, where there are quite few high tech places, is not bad.

Where are the bad spots?"

The question has come up before. If you want to know where the real problem areas for Vancouver are then the answer would be that certain sections of East Vancouver, adjoining the city centre, have severe drug trouble with associated problems. Similarly both Surrey and Richmond have areas that are problematic...mainly those parts nearer the City of Vancouver. However, Vancouver City also has the most highly prized and priced area in all of Vancouver, Point Grey next to the University ( Vancouver West). Similarly both Surrey and Richmond have truly superb areas. The much sought after White Rock, with its great sunshine, for example, is in Surrey. So, yes, there are SPOTS to be avoided, but there is no single City within Vancouver about which such a blanket statement could be made. More recently dagga grow-operations have been uncovered in the upmarket Westwood Plateau area of Coquitlam, for example.

Ethnic Distributions

There are interesting ethnic distributions. Most East Indian immigrants settle in North Surrey. Most Chinese immigrants settle in Richmond, which is strongly Chinese in culture in the areas nearer the Airport, though many Chinese folks have selected the Westwood Plateau of Coquitlam in recent years.

Most folks of Iranian descent have settled in West Vancouver on the North Shore.

The South African folks DO NOT hang together and therefore are not congregated in specific areas. I know we have South African folks in the West End ( see above), in Coquitlam, in Port Coquitlam, in Port Moody, Surrey, Langley and a few in Tsawwassen and White Rock . I also know an SA family in Richmond. There is quite a large SA community on the north Shore, most typically in North Vancouver or North Vancouver District.

Not many South Africans I know of settle in Burnaby (very much like Newton Park in PE where I grew up) or Vancouver City, other than to rent an aparment in the West End, where I know a few people. Most try to find a place in North Vancouver, and, if the finances or mortgages don't work out, they go for the Tri-cities area. Some specifically head for Tsawwassen and White Rock for the sun. House prices are dramatically better across the Port Mann and Pitt River bridges, and so a lot of folks have elected to move there instead and accept the long commute. Surrey and Langley, in particular, have become VERY attractive.

Actual individual houses:

My suggestion is that folks use the excellent online facilities that the Real estate agents have around here. Folks headed for Vancouver, and NOT looking at Surrey and Langley, can try www.realtylink.org. Those folks headed for Surrey and Langley, should try www.mls.ca.

The cheapest house that was available in Point Grey last week, was $819,000. The cheapest in British Properties in West Vancouver was $738,000. An open lot of 15,000 square foot was $549,000, just to give you an idea. The cheapest one advertised in Westwood Plateau ( an upmarket end of Coquitlam) was $449,000. These few numbers give you the expensive end of the picture.

Here is the Real data of the Greater Vancouver Real Estate Board. The "Benchmark"-price for Greater Vancouver is $523,603. This certainly makes Vancouver one of the most expensive places on Earth, in terms of capital to lay out for a house. Your RETURN ON INVESTMENT is something else. I have yet to hear of another investment that works as well.

However...

Across The Fraser River:

The relevant organisation here, covering Surrey and Langley, is the Fraser Valley Real Estate Board. They give the benchmark price as $364,254. So, it is quite a difference. The complete stats are HERE.

You can ask for comment on housing from:

1. Adele, who lives in Surrey.

2. Jack, who lives in White Rock ( part of Surrey)

3. EttienneG, who lives in West Vancouver

4. Sponger in Coquitlam

5. Digin, who used to bein the West End apartment world ( Now in SA)

6. Rochelle or myself: both in North Vancouver

You may want to send them a PM.

The Webpages of the Various Cities

District of West Vancouver

District of North Vancouver

City of North Vancouver

City of Vancouver

City of Burnaby

City of New Westminster

City of Port Moody

City of Coquitlam

City of Port Coquitlam

City of Richmond

Corporation of Delta

City of Pitt Meadows

District of Maple Ridge

City of Surrey

City of Langley

District of Mission

City of Abbotsford

When you go further east than Mission or Abbotsford, you are getting into serious rural Fraser Valley. The commute becomes just plain crazy and you want to be thinking VERY carefully about all this.

Hi Harry, thanks for the great effort. I thought that you should rather title the article: "Bridges of Vancouver", but realized that there was more as I read further. You can add us as the only SAs from Burnaby.

Share this post


Link to post
Share on other sites
Lawrence Beard

Maybe this topic should be revisited - Buying a home in Vancouver (or simply just looking) can be fun especially if you take your picky family with you. We were looking just last weekend at new condos and Townhouses in South Surrey - Morgan Creek in particular. We came across a fancy condo with an even fancier price. I confess it was nicely decked with expensive looking fittings and features (all optional extras of course.) My son, ever so observant, asked why the beds were so small - "Well my son that is because the rooms are small" But he said the saleslady said the rooms were 'spacious'. Yes I said - "but she was only 5 ft tall and you are 6 ft". My daughter loves nice looking stuff so she said 'Hey let us make an offer'. I said "The stuff dont come with the condo darling". But she is a tough negotiator - " But this place is close to the beach Dad" To cut a long story I won. We then went to Starbucks and spent our deposit on some Cafe Lattes.

Any more real estate fun or diasater stories out there?

Share this post


Link to post
Share on other sites
Nirak

I think I have to accept that there is no way we will ever live north of the Fraser... We stopped in Kitsilano yesterday to pick up some photography equipment, and I would give anything to live in that area, but the house prices are :rolleyes:. Last week we visited the VanDusen Botanical Gardens, and again had a look at house prices as the area looked really nice... White Rock was too touristy. So for now I guess I will go look at the top floor apartment of the building we live in...

Share this post


Link to post
Share on other sites
KarenLV

Eeek! Just checked out some reality websites and the house prices are still high even though it is recession. Seems like an apartment is the only affordable option these days but I am dreaming of a nice big garden.....

Share this post


Link to post
Share on other sites
DarrellL

Just discovered that there is no municipal refuse removal in most of Maple Ridge - there is removal in Pitt Meadows. You have to employ a private contractor to take it away, or visit the dump yourself at $10 a time! Many folks just freeze their garbage and go once a month. How about getting together with neighbours and petitioning for these services to be contracted uniformly? House prices are not really any less expensive than in areas which have full municipal services, so we should speak out! :rolleyes:

Share this post


Link to post
Share on other sites
Linda

Here's something new and exciting for those who believe they simply will never afford to buy their own home.....

Affordability goes small http://t.co/CkBrJKH via @globeandmail

Share this post


Link to post
Share on other sites
Welcome Moose

Surrey seems to be more affordable than the rest. Which are the areas to stay in (in Surrey) specifically those areas with good public schools and a full day kindergarden program.

I think I have to accept that there is no way we will ever live north of the Fraser... We stopped in Kitsilano yesterday to pick up some photography equipment, and I would give anything to live in that area, but the house prices are :rolleyes:. Last week we visited the VanDusen Botanical Gardens, and again had a look at house prices as the area looked really nice... White Rock was too touristy. So for now I guess I will go look at the top floor apartment of the building we live in...

  • Like 1

Share this post


Link to post
Share on other sites
Johan Barnard

Surrey seems to be more affordable than the rest. Which are the areas to stay in (in Surrey) specifically those areas with good public schools and a full day kindergarden program.

What about Langley and Abbotsford. We are living in Abbotsford and love it here. You can use the Westcoast Express From Mission back and forth to Vancouver. Relax on the train. Much more affordable out here.

Share this post


Link to post
Share on other sites
Welcome Moose

I thought the commute is more than an Hour from abbots.... but have heard it is a nice area!

How is the schools in abbots?

Our deciding factor will be school zone and affordability

What about Langley and Abbotsford. We are living in Abbotsford and love it here. You can use the Westcoast Express From Mission back and forth to Vancouver. Relax on the train. Much more affordable out here.

Share this post


Link to post
Share on other sites
Hennie vdB

I realise this is an old thread, but any updates due to recent developments? If one got a job in downtown (West End), and wanted to rent an apartment in an affordable area and close to public transport, what would you suggest?

Share this post


Link to post
Share on other sites
Jules

Can you imagine the difference in property prices and rents from when Harry posted this in 2005 versus today 2018? Must be a massive difference. Also safe to assume salaries have not exploded upwards the way real estate has. 

It's a beautiful part of Canada but I don't know how regular income workers pay their bills considering real estate is the biggest item on a budget. And Toronto is not too far behind. 

Share this post


Link to post
Share on other sites
corwes

Here is a link which i got from another forum. They compare the average salary to the average home price across Canada: 

http://timescolonist.com/business/here-are-the-best-and-worst-places-in-canada-to-buy-a-home-on-one-income-1.23209282

 

  • Thanks 1

Share this post


Link to post
Share on other sites
Jules
On 3/22/2018 at 10:40 AM, corwes said:

Here is a link which i got from another forum. They compare the average salary to the average home price across Canada: 

http://timescolonist.com/business/here-are-the-best-and-worst-places-in-canada-to-buy-a-home-on-one-income-1.23209282

 

Over the next decade I think we will see a signifiant shift in the movement of workers to smaller cities due to affordability. A young graduate starting their career in a city like Toronto faces massive barriers to home ownership. For many, it might make sense to take a job elsewhere at half the income if housing is 4 or 5 times cheaper.  

We got our foot in the real estate door before things got crazy so we are ok, but if I was starting over I wouldn't land in the GTA. 

  • Like 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this