"Impossibly unaffordable": Housing report crowns Vancouver 3rd most expensive city in the world
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- Опубликовано: 13 окт 2024
- Vancouver is “impossibly unaffordable” on a global scale, according to a U.S. report.
While the news may not come as a surprise to British Columbians, new data is reaffirming Vancouver ranks among the world’s most unaffordable and outright expensive cities to live in.
Global's Cassidy Mosconi reports.
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My landlord is Chinese owing five houses in Toronto, yet he lives in China 😂😂😂
Should not be allowed
@josephsmith594 foreign investment driving up prices in Vancouver has been well documented and reported. Have you been living under a rock?
My landlord is iranian and owns 3 houses in the vancouver area. He rents out every room. He's barely in Canada
Empty suites here in vancouver too owned by people in China, never even come to visit, suites just sit here empty for years now.
Make sure you with hold the tax out of your rent you can be burned by them nkt paying tax
Why no mention of foreign investment in real estate? I'd think that would be the number 1 thing to report on. But designated agricultural land? I had no idea it was that big of a deal
it wasn't' investment. it was laundering
Foreign investment
I need more foreign investment
They are terrified of the backlash for telling the truth.
Because its not a major factor
Are you actually blaming farming, you know what feeds us instead of the obvious problem of too much immigration with no incentive to go anywhere but Vancouver or Toronto?
It’s always been the farmers
Funny how immigrants can afford it but you can't.
@@bobwoods1302
Immigrants can’t afford it either, bob. That is why so many are leaving, and making videos explaining that they are leaving because they can’t afford it.
Alberta and Sask seem to be packed with them as well. Can’t imagine what western BC is like.
Not Orchestrated at all though.
@@bobwoods1302 packing 15 people in a 3 bedroom while avoiding taxes and scamming people is their secret
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
Vancouver is no longer part of Canada, but China.
The entire city was bought with laundered corruption money
😅😅
And Ontario is India
By the UN definition forcibly causing a birthrate drop is considered genocide
that was like 10-15 years ago. Alot of Chinese and Chinese-Canadians have left. China today has better quality of life and seen as more stable in some ways
The government should be ashamed of themselves! Soon the homeless will occupy that farmland in tents! Eventually Vancouver will become a place filled with tourists and homeless people.
The problem is, they aren't ashamed. The only way to fix it is to have enough people to revolt against them. The government's perspective on the homeless: they should be ashamed of themselves! The government wants hard working people to play their system. Let's all band together and fight back, but the problem is we don't have enough support.
Inflation is one of the problem.
The Canadian government keeps printing Can Dollars to fund the war in Ukriane/Israel.
What happens when rampant printing takes place ? It devalue the Canadian currency. It means it takes more Can Currency to purchase a can of coke as an example. Notice a can of coke used to be $1 several years ago and now it is $2 or so.
Then there are the influx of J.Ts international students from you know where. Why do we need 30+ year old international students. They are using it as a back door into Canada. They are economic migrants.
Also there are housing shortage. The supply doesn't meet demands. Instead of building affordable homes. These builders are building two and three garage homes. Why do we need these huge homes and who can afford them.
It is expensive as hell. Some people have two jobs and it is not good enough. All three combine cause homelessness in Canada. People who can are leaving in record numbers. Leaving as in leave the country.
@@cosmoray9750
< Instead of building affordable homes>
That municipal and provincial governments made too costly and all but completely illegal to build with bureaucracy.
One of the only kinds of homes they're legally allowed to build with a decent ROI.
Foreign money was a large reason both federal & BC governments previously ignored…. I remembered around 2016, Vancouver home prices went up 30-50%! And never looked back…
Well the city of Vancouver was proud of the price increases. But I recall at that time a lot of heat being called down on what CBC called the shadow housing market. Many of these fancy homes were owned by shady foreign buyers that didn't even live in them.
Blackface and the CCP largerly to blame.
The government can still fix it but we all have to band together and demand it. We have to revolt. They can reverse the damage even though some people will get hurt by it but it's necessary.
What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly from the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
@@larrymunn5279 was the drug trade fueling cash washed in casinos put into the housing market inflating the luxury market, lifting up rest of market
"It's so expensive because we can't build out in to farmalnd!
So, having the vast majority of the city be fully restricted to
-single family housing only
-minimum plot size
-minimum lawn setback size
-maximum height
-maximum units
-and more restrictions
AREN'T messing with supply and pricing?
You’ve hit the nail on the head. When you fly over Vancouver, it’s shocking how much of the city is detached housing and little amount of apartments and high rises there are. The whole city out to Chilliwack should be automatically rezoned so if someone wants to build townhouses or apartments non single family zones areas they can immediately and without applying for permission
@@Madyoke I love detached homes though. They are the best
Bingo. Zoning issue plain and simple. Vancouver is not dense. Only two small neighborhoods are.
Oh give me a break. You know the real driving factor. Stop this madness.
laundered corruption money from an single country in Asia
Immigrants
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
It's not "a struggle for a lotta people." It's an unmitigated disaster of generational proportions.
The farmland is not the problem, the foreign owned properties and vacation homes are the main problem. Let’s not blame farming, take away some of that farm land and suddenly there will be complaints about the food prices being raised drastically more.
lol, the farms around Vancouver produce how much food? Most of our food comes from south. Our farms in chilliwack is hardly productive
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
@@DW-op7lyfacts. Old people are the real problem. Specifically the generation before X. Always being. NIMBYS and all that stuff..
Richmond is china, surrey is india, whats next?
What’s wrong with that
Burnaby is China, India, Syria, and Somalia all mixed together. Most Europeans have been pushed out by various policies since 2015.
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
@@dinvsl just because you say it didnt happen does not mean it didn’t happen
I’m talking from a demographic perspective
Not from a selfish me myself and I perspective… As you must be a boomer
The average Canadian is in debt or broke
And you for sure benefit from the Government borrowing that makes it so you don’t have to pay 500 Canadian dollars for a loaf of bread
You didn’t care your whole life as a selfish boomer so stop complaining about the solutions now
@@drutterpushed out to where?
Hongcouver was always out of reach for Canadians, all you see is 16 year old Chineese kids in their Bentleys
As a 16 year old Chineese kid, I can confirm we're in our Bentleys. We also use our Rolls Royce for grocery shopping
all laundered corruption money
Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.
@@Marcus-ss4gn why anyone stays is beyond me. its a tourist town with zero sense of community. people are living in denial if they are trying to make a life there!
Get a job
Glad I’m leaving the country.
😢
And go to mars ?
Every day, it’s the same news: housing crisis, unaffordable homes… it’s like a broken record. The federal government does nothing, and the provincial government isn’t any better. HOAs are busy ruining the lives of younger generations, blocking any meaningful change that could actually help. And so, the cycle continues.
It’s unbelievable that a "first world country" lets this go unchecked. I come from a third world country where we don't have a housing crisis. Canada should be ashamed. After ten years here, I’m counting down the days until I can leave.
This is what happens when a country ties its citizens' retirement plans to real estate. Good luck, Canada. This place is a failure
It's not actually up to government to fix problems like this.
It IS up to government to stop CAUSING problems like this. Mass immigration of the world's needy, for example. We just can't afford to make everybody a Canadian and hook them up with our benefits. We have a lot of resources, but there's a limit, and we've gone far beyond it.
@@drutter For sure immigration has a part on the problem. But if you believe is the only thing to blame you are being delusional. I bought a house 3 months ago, it was a long hunt. I've seen rows and rows of houses and townhomes that were completely sold before even being built by investors.
You gonna tell me that's immigration ? No... that is foreign money/investors playing cards with a crucial need of every country: Housing. So, yes the federal government can and should prevent that.
This is what happens when we have record-breaking levels of immigration at a time of severe housing scarcity.
Not only is it utterly boring here, it's also expensive as well. It rains a lot and there's a massive drug problem. Not worth it.
Well anyone who likes eating food, really shouldn't be blaming farmers.
And that cost spills over to Vancouver Island.
They mention the agricultural land reserve as the reason for Vancouver's unaffordability - curiously absent from the commentary is the fact that we have record-breaking immigration that is far outstripping our ability to build homes.
Zoning has been part of the issue but they decided to import thousands upon thousands of migrants.....lets be reaL here....the open house I went to for an apartment was full of non-canadians 30 to 1
How come they can afford a home and you cannot?
@@bobwoods1302 Subsidies.
@@eddietat95 What subsidies?
@@bobwoods1302 There are "newcomer incentives" which make it much easier for Punjabis to get jobs over Canadian citizens. Also, look into "Brampton mortgages" to see how they break the rules and get away with it.
The tall Punjab guy (international student) who was the lead spokesperson in the PEI protests owns property in Canada with his brother. He invested and co-signed, then turned around and said "Canada MADE me buy property and now won't let me stay in the country! So racist!"
@@bobwoods1302 From the government for being an immigrant. Notice how immigrants all have houses and apartments, but longtime Canadians are the ones living on the streets and surfing couches?
My son and his family leave at the end of the month they’re moving to Alberta.
Don't vote liberal or ndp.
Please tell them to not come here and vote NDP/Liberals.
Lol its going to get $$$$$$ there too. Plus the overt racism
And they will come back during the bust cycle. It always have been like this. Alberta booms, and people move there, like back in 2011s
@Dave-gy5mv dw, when the bust cycle comes when Saudi decides to dump oil again, all these people will leave.
Vancouver is not alone in the "impossibly" unaffordable.
When the building I'm living in collapses or gets condemned, I WILL be homeless.
There is nowhere to go.
To pay what I pay now for these 670 square feet, I will get an 8x8 room in another hovel.
I might as well find any way to go to prison and stay there.
At least there I'm guaranteed three meals a day.
Bit of a drain on the rest of us, though.
I'm curious when people say they will be homeless at these rates. can you elaborate? Why couldn't people like yourself move to a cheaper city or province?
But in comparison to the rest of Canada, Vancouver stands alone.
Just a small detail for the editorial team - that isn't a stock photo of Hong Kong but Shenzhen, the city right across the border control.
I myself know at least two people who own houses in Van, rent them out and don't even live in Canada.
To control housing prices, the Canadian 🇨🇦 government needs to stop Chinese money laundering into the country.
That's not gonna work. What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
@@almontoya5703 What he said
It’s the agriculture land that is the problem didn’t you watch the video where did they mention china in the video
@@YUNGMASforeign investor account for a tiny percentage of home ownership. The biggest problem is we don’t use enough of our land.
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
Anyone anywhere in the world can buy any residential property in Vancouver or Canada anytime without any restriction, other than a small foreign buyers tax which many avoid. Golden visa are easy to obtain and good for 10 years. Our residential property in Canada is treated as a commodity which sells to the highest bidder from anywhere. There is no consideration for the actual residents and citizens of the country who want to buy property. It's all about fast money and money laundering from organized crime. We have 10s of billions of dollars being laundered through Canada each year. The governments involved, who's house values keep increasing yearly turn a blind eye and the banks continue to make record profits.
You hit the nail squarely on the head.
You mean record revenues as no profit is made until all expenses are accounted for and there's money left.
The solution is so simple: just build as many free tiny homes out of containers for anyone who wants one. Oh, someone has already tried that and got banned by the government.
So the real problem is big government, not housing crisis.
we will keep seeing this video pop in our feed because nothing changes...
Unaffordable housing ratio has 2 numbers in it : HOUSING PRICE / INCOME
If the INCOME number has been low for decades because employers could pay low wages, therefore the ratio is always high. Regardless of the housing price number is lowered, the Unaffordable Ratio number is still high. The possible solution is pay HIGHER WAGES.
Higher wages means more money to spend. More money to spend means demand goes up because more people will be buying
Demand going up means prices go up. You'll just be endlessly chasing your tail.
@@gregjones1339 If that's the case New York would be the most unaffordable city in the world but it's not.
@@Pudpuds-k8k
But New York has way more opportunities to make money.
@@shauncameron8390 yeah which is what I'm saying. My comment is a response to Greg Jones' in case you misread.
Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.
I left in 2019. Could not find an apartment for my wife and I that would accept us. We have savings and income, but no 9-5 job, and landlords DEMAND that you have a 9-5. It's not income or savings they care about, they want to know you're a working drone who checks all the boxes and won't be home to use utilities or cause wear and tear. We have a flawless rental record but had to leave our lives and friends behind, to move to Northern BC. This was the only rental we could find in all of the province that would accept us. Cost us more than $10k to make the move, and we still have not recovered years later. What a nightmare Trudeau's Canada is.
You get what you vote for.. Enjoy the result of massive immigration and inflation/taxes/money printing/massive deficit
No one voted for mass immigration. None of the politicians runs on “im gonna bring in a bunch of people who you will have to compete with for jobs, services, and housing”
We aren’t a true democracy. WE don’t get a say on what happens. We vote for people who align best with our views. But trust me anyone who voted liberal didn’t want this either
I didn’t vote and some how I still have a net worth
So much for transit oriented development making anything affordable
Come out to the Maritimes, housing is less than half of the national average. Better be healthy though as healthcare is terrible.
I was renting a 1 bedroom apartment for 1450 $ a month . Was making 2100$ a month . Its managable , but you have to live very frugal.
The housing prices are similar in Heseinki Finland and Seoul in South Korea. No one talks about that. Reason for me to chose these two developed nations is 1 they are from Europe and Asia and are developed nations. Canada being a developed nation, the prices are comparable and follow the same trend.
Do you want house prices to come down? Then write your MP (on paper - postage is free) and tell them to start talking about immigration reduction again.
The demands are all from speculators who already have 5 properties. Same 1 bedroom condo, same owner, different tenants, rent go from $2000 to $2900 from 2022 to 2024. This country has noore hope so long the speculators keep stocking, renting, and flipping.
Moved to the Island 8 years ago, since we were never going to be able to afford a house in Vancouver. Housing has more than doubled here in that time. It's completely insane.
Vancouver Island is no longer affordable.
Not sure if they will fix this but if it goes long enough, there will be a noticeable population drain. All the negative effects of a shrinking population will start to materialize.
It´s madness the prices for rent and is stupid soemtimes you find a place a mean a small roach room for 3500 dollars and then you also find some awful roomies bringing protitues drugs and big crows of people making night party 7/24
Patrick Condon, Colleen Hardwick, and so many other Vancouver housing experts have it correct. Building more homes will not make homes more affordable. That time during covid when vacancy went up after all the intl students left and rents got cheaper.... was just an anomaly.
Why isn't Canada on BRI map? CGTN The Point-Hub-Heat, Einar Tangan-Martin Jacques-Lijinjing-Tian Wei. Reporterfy Media-Cyrus Janssen.
Don't forget the 5% tax on newly built homes.
Sorry to say but interest rates need to go up further to pop this bubble and crash the housing market!!!
Just for ghits and shiggles, I would like to see those paying over 30 percent of their income to housing show up on the lawns of their local city hall for a day, or as long as it takes to get a real count of the problem. Maybe an encampment will get some shovels in the ground. Doubt it. Many in need will be dead or collecting pension by the time any significant progress occurs, if at all.
A lot of us are paying over 60% of our income to housing. Anything to keep my children off the streets. I'll skip meals to keep a roof over their heads here in Northern BC.
Restrictions on sprawl are not the problem, the Canadian economy is.
It just makes me laugh. Everyone had something negative to say about Alberta. It's funny how that changed
Doesn't change the truth... Alberta is still Alberta no matter how much any other place suck in Canada.
Honestly. I love it here. I just wish BC and Ontario would stop coming. We don't need your mindset.
Alberta is the last province I'd move to.
@briandufoe3719 that's ok. we aren't upset about it!
@@Timetravel755
Lol,
I know
Your only upset when oil goes down !lol
No more foreign buyers
When government have immigration stream for hong kong citizens, what do they expect? Of course it will be the next hong kong
In 1983 I rented the third floor(3 rooms) of a lovely old house at Yukon and 11th, 2 blocks from city hall.
178.00$ a moth, increased 10% a year.
I loved it. Great view. Free utilities.
I hope interest rate stays high for long time, until people learn to not throw their money easily , and the greedy people forget the easy money
Even in our small towns in BC are over-priced!
Little crap hole homes are over $500k with lots of problems.
We love BC but its hard on most people and buying a home now is impossible unless you have half a million plus renovation cost...
The people with money drive the market it is as simple as that. Where the money comes from is another matter. Foreign money becomes a problem, when the domicile is not properly lived in. Farmland should not be an issue, we need the farmland. Too many people wanting to live in densely populated cities and wanting to live in Canada et al is causing the strain on supply and demand. Immigration should literally be halted and a moratorium study should severely LIMIT the number of people coming into this country from any one country or region. The open immigration has caused a lot of this mess along with foreign domicile purchases. No easy solution, because nobody wants to tackle the problem without offending some culture's sensibilities. The problem will NOT go away until the issue of immigration is properly solved.
Look if I have 20 properties all with a monthly mortgage total of 195,000$ because of my down payment there is no excuse for anyone.
All the landlords in Calgary and Edmonton are the rich real estate multi house owners of Ontario and BC, selling some of their property there and buying multiple houses in Calgary and Edmonton AGAIN like crazy, and then in a couple of years it will be time to move out of Edmonton and Calgary AGAIN. The average price of a 2bhk + 2bath in Edmonton is 2000$ and who says it is affordable here ANYMORE....(MULTI HOME OWNERS + PROPERTY OWNERS + MORTGAGE BROKERS + BIG BANKS = ZERO sum game for the middle class Canadians) PERIOD....
If you starve the people you could have more land for housing. Forest fires have destroyed the supply of cheap wood for housing. So it’s your choice Vancouver.
i went to an open house for a $3.1m residential listing, 1980s single family dethatched home near cambie, all 10 groups or so who showed up to take a tour were Chinese
Are you kidding that they are blaming ALR? Try infill and building smarter before sprawl. Deal with investment properties and multiple single family home ownership before pointing the finger at protected lands.
I don't understand the panic. Government is well on its way to providing low income housing, along with another 4 or 5 increases this year to minimum wage. Problem solved.
what a s*** show! If this continues there will be nowhere to go...
Get a job
@@YUNGMAS Jobs are not paying enough get rid of the greed.
@@YUNGMAS
Ppl w good jobs can’t afford a home.
@@firstandforemost87 I can and my job is average. What people need to do is save. The average Canadians don’t want to save money. Did you know 40% of people making 250k or more are living paycheques to pay cheques. Why is that? Not because the city is that expensive because 50% of people making 100k are not living paycheques to paycheques. It is because they squandered all their money away and then whine when they can’t afford anything.
@@joeisawesome540
I save religiously compared to the average person, and I have a solid job. Even where I am this doesn’t go far in housing.
Look down your nose at others all you want, but you and I both know it is unreasonably hard for ppl to afford a home right now. Keep patting yourself on the back though. W/e lets you tell yourself you’re better.
I have two places, btw. I don’t need to struggle to get where ppl are coming from.
Wait for the renewals in 2025 and 2026. Unfortunately, this is very similar to the '08 crisis.
I already left and making arrangements for my kids to follow. Alberta isn’t cheap..
Great. Now AB can become just like BC…
@@firstandforemost87that’ll never happen dw man. Alberta isnt trapped in a valley and alberta seems to have a pretty competent gov conpared to BC
@@SilentZyko
Until BC ppl vote for a BC gov in AB.
@@SilentZyko
Hopefully you’re right.
If more people move out then in... that means Lee's demand for homes so lower prices. O wait no one seems to be buying right now and prices are sky high still
For those who have contributed to this "success" I salute you
Dude has got it wrong! It has nothing to do with designated farmland. It has to to with the fact that there are bungalows and housing taking up space where there should be 3 story to 20 story rises. Fact is most urban centres are building up while Vancouverites are fighting to build out. Montreal (an Island) takes up 365 km squared with a population of 1.7 million while Vancouver takes up 114 km squared with only a population of 675,000. That’s 900 people per km squared as opposed to Montreals 4517 people per km squared. I find it amusing that the tree huggers want to cut down more trees and invade wildlife space rather then change their already luxurious lifestyles.
Every farms in Surrey has biggest and most luxurious mansion I have ever seen...
yes, those farm lands need to be protected even though every produce I see in grocery stores are either from California or Mexico....
Dang those blue berries and cranberries need to be protected...🙄
Unfortunately we talk talk talk We supposed to fine solutions or government should do something
All the super housing bubbles happen in the Brit cities, no doubt this worldwide housing bubble must have something to do with the Brits, *** Hong Kong is also a former Brit City
No one can even afford rent across Canada never mind food or gas … Truduh has destroyed Canada
The housing crisis happened long before Trudeau...
@@nrdify
Not at all.
Burnaby has a lot of land that is designed agricultural land... which should be designated residential... just saying things can be done... but municipal govt preventing changes.
So what ? Even if it gets rezoned, they will only build condo towers for the rich. And with 60 000 new mostly indians coming to the GVRD each year this won't be enough.
@@AK-hi7mg
Due to high building and real estate costs making condos more or less the only kind of housing that can be feasibly built.
Changes to zoning laws,encourage more home construction. Higher density housing in the suburbs! Stop scapegoating minorities & foreigners.Canada's favorite pastime for the past two decades!
And possibly more expensive than Toronto as well.
We left lower mainland BC for Nova Scotia in 2020. Better lifestyle on half the income.
Better lifestyle than BC in what ways?
@@drutterMortgage free on what would be a multi million dollar acreage in BC, driving nicer vehicles, can afford to have wife at home so we homeschool, raising chickens, ducks, quail, gardening, cutting firewood from the property so no heating bill...all while working very part time.
@@concernedcanadian8460 Your anecdote is meaningless, but thanks for your life story.
Hardly a life story, just a snippet to show there are options. If you find that example meaningless, you're lost or just a troll that thinks he's smarter than he is.
@@concernedcanadian8460 I'm not trolling you, so if those are the only 2 options, I guess I'm "lost". As for being mortgage free, we already established that it's cheaper. My question was why you claim that it's BETTER. We can cut firewood and raise chickens in BC as well. Not sure where your point is. There must be something else that makes it so much better?
vancouver has always been expensive
Who do you think is making these really expensive...google dominant race im the 3 most expensive cities
Not who. It's what. Laundered corruption money from a particular country in Asia.
My search results returned the scottish, English, and Italians.
jews?
Crazy how they managed to afford it and you being born in the best country in the world can't afford it.
@@kino_cinante google sydney hongkong and vancouver
Or you could crack down on money laundering and cut immigration down to something more reasonable. Vancouver may be the worst, but high housing prices are a problem all across Canada.
But Vancouver takes the cake.
@@shauncameron8390 That it does indeed! There's a reason I don't live there anymore.
Welcome to the NDP and Liberal world. JT and his clowns built this city great.
Albertas not that much better I wish I could move back to BC
You used a photo of Shenzhen for Hong Kong...
That's why I cashed out in 2020 selling way over ask and went to Alberta and bought under ask
@@colinsellers1143 I'm not job trapped in Vancouver, I'm retired
I taught Vancouver was "most livable" not too long ago!? Get your reporting in order, Global TV!
Livable ? Mean it is one of the most desirable city, which is why it is expensive
While he spends 250000 on his trip
What a shame!
Vancouver has the potential beat Hongkong and become the most unaffordable city on earth in human history.
Vancouver is the most livable city known to peoplekind. It would be criminal to sell such a gem cheap. Hopefully one day, Vancouver housing will be $100MM each on avg.
@Dave-gy5mv
But Hong Kong's caged homes make Vancouver's SRO's look like luxury apartments in comparison.
I have a Chinese landlord who owns the town... I called him the townlord... He lives in China too...
Makes sense! Vancouver was first priced out of Canadians reach by people from Hong Kong!!!
I thought Canada was supportive of Hong Kongers immigrating here to escape communist China?
Need to build large-scale condos, apartments.
All ( ex British monarchy) countries.
Coincidence, i think not.
Unless you plan on voting conservative. Stay out of Alberta!
Funny, how does people in Hong Kong and Sydney survive? Both are larger cities than Vancouver. Get another job and budget yourself, stop making excuses.
Leading up to 2010 Olympics the mantra was "World Class City!"
It's so World Class locals had to leave; they couldn't afford to live in it!
🤦♂🤣😂😆
I thought this was an Australian news outlet at the start.
Canada truly is a melting pot of cultures. We have Chinese landlords with Indian workers lol. The rest are just watching from the sidelines.
Oh common, who dictate the price market or group of realtor agents?
Go go Vancouver congratulations
Canadians did this to themselves.
Keep the rich Chinese mainlanders flowing to Vancouver. LOL
Trudeau and Freeland fault
Yeah, notice how it really ramped up hard in 2015?
Yup.match boxes for millions
More like glass boxes
And you failed to mention that as a result of large numbers of people.moving to Alberta, it has caused our housing prices to increase. You are lucky to find a crappy 1 bedroom for 1k now which would have been closer to 850 6months ago. And that's talking the run down not maintained buildings with lot's or drugs and partying. If you want a decent place to live in you are lookin at a bare minimum of $1500/mon for a 1bed. The amount of homelessness has significantly increased as a result. Its a horrible horrible downhill sprial that our government cares nothing about
I remember the Alberta government was running Ads in 2022 wanting people to come to Alberta. Maybe they planned this. Weird
Whi would have thought? Thanks to Trudie's open borders and mass immigration policy!
So how come Vancouver home went up by 300% from 600k to 1.8m before Trudeau was elected ?
Congratulations on the housing construction project in Canada 🇨🇦
Oh come on, urban sprawl won’t save house prices lmao what the hell did I just watch