My wife and I make $200k a year and even we dont dream of moving to Vancouver. General rule is your house shouldnt be more than 4x your income. Meaning we can only afford a $800k home, good luck finding that in Vancouver. Let the city collapse under its housing issues
I was lucky enough to have 5 years of living in Kitsolano , Vancouver from 2005 to 2010. My apartment just a few blocks from the beach was $940 per month, but it was a very badly kept 1913 walk up building, when I saw asbestos behind the kitchen counter, when a piped leaked…. I ran back to Toronto! 😂
It will never collapse and will be double the price it is now in 10-15 years. Buy whatever real estate you can afford as it is the only way to keep up with inflation.
Look at "City-Data"; people have been posting about the coming "housing Armageddon" in Van. for decades, Isn't going to happen. YOU and your wife CAN afford a two bdrm./two bath high rise concrete condo. So start somewhere.
@@mikeh2129 200K a year after taxes is about 150K for two separate incomes. The rent they are paying adds up to roughly 39 K per year which leaves about 100K left over. Something definitely does not add up. I live alone in the same neighborhood and make a bit less than them and have roughly the same or slightly higher living expenses and am living very comfortably and saving for retirement.
@markadler8968 What I don't understand about this couple is if the two of them are feeling a so called financial pinch and are finding it unaffordable where they live in this current video, I can understand moving to a cheaper place but why would she quit her job in that situation? Quitting her job based on the situation she described doesn't seem like the smartest idea. Just my opinion
They chose to live in a new rental in Kits. Their situation is entirely their making by choosing a high end area near the beach and downtown. Don't by the victim story.
@@mikeh2129the new town Chilliwack is 100km from Vancouver so too far to commute for her old job that had to be done in person. so she could find a new job in Chilliwack, agree that would help
So here’s my theory: big cities serve different purposes than most neighborhoods. I’ve worked and lived in quite a few cities - Vancouver, Seattle, Shanghai, Singapore. These kind of cities are always expensive and the governments keep it that way, knowing how this will affect the quality of life for the residents. But they still do it for the GDP growth. Real estate transaction and property tax are major parts of an economy. The government would rather have nice numbers to present to the news, saying how much the GDP has grown, than actually bring down the cost of living for people
That’s complete nonsense. Housing prices are driven by demand not government and property taxes are lower in high density cities than in low populated areas. Government employees and politicians, btw, live in houses too and many earn less money than a factory worker or truck driver.
its not a rent issue with this couple its a LIFESTYLE issue. in this circumstance, making around $200,000/year, they should be able to still live within reason in vancouver. i would like to know the lifestyle behind this couple. they are still making car payments with that income? they must drive fancy cars, go out for dinner 5 days/week, travel lots and etc etc because i know couples that live in vancouver that make around $200/000/yr and they are not in that situation. the math is not adding up and if its not adding up its a lifestyle issue. i see this all the time on the news and i dont even know why THIS story aired we all know the rent is high, but when a single couple like this is earning 6 times their yearly rent expense and still cant save money its a lifestyle issue.
No it isn't. I don't need to live like a pauper. Let the city die. I like eating out and building cars and spending money on things. And if I can't do that what's the point? To just live another day? Why? I want a house. A summer house. A car collection. And when I make good money I should have what I want. Not sacrifice. So. No more 27 dollar lunch with 15 dollar parking. And no large and paying tax in a city that subsidizes things. Just move away.
I live in the same neighborhood, in a much better location, my unit is far nicer than theirs and I make far less money than them. The difference is that I bought instead of renting way back and I live within my means. This couple could have bought that condo for around 400K about 10 years ago, had a mortgage lower than their current rent and had close to half a million in equity towards their retirement. Now they have to rent in Chilliwack and will be working until their 70s.
@@buysncharge Where pre tell is this magical location you live in that you can do all of these things even on a very high income? Because what you just described is very expensive to own and maintain in this country no matter where you are located. I guess if you are going to fantasize you might as well go big. You sound like the the typical disenfranchised whinging millennial demanding everything and not willing to put in the effort to get it.
@markadler8968 well. Here's a hint. The most expensive place in the world. Hydro dam. And yes its normal to have vacation homes and car collections. Especially when you have dozens of employees. The dream in this region is dead. A regular person with what's considered acceptable income would spend 65% of their income to rent one room. So yeah. Economy is garbage. I have owned 35 cars. I have spent lots of money and made lots of money. And I'm telling you it isn't normal to accept driving a 10 year old car you can't afford to literally just give away and replace. It's normal to buy a shed just to have something to build when a friend visits. It's normal to build fun recreational vehicles to drive up to your property. This has just been conditioned away from you. To the point you think it's absurd. People used to have boats and planes and snow mobiles and property while being regular middle class.
@@buysncharge You say you have dozens of employees and have owned all these things then say it it should be affordable for the average person to own planes, vacation homes and multiple cars? You do realize you are contradicting yourself right? Also you live in a hydro dam? That must be interesting 🤣🤣. Just so you know I am not conditioned to accept anything and am not a fan of governments, taxes or their policies. I am just a realist who is trying to do the best he can within the system we have in place. Of course the average tax paying deserves a far better quality of life but that scenario simply does not exist anywhere worth living .
Our income tax system is not set up for $1M+ houses, as it takes well into a six figure income to pay for a condo and the income tax you pay is upwards of 40%+. The only people surviving financially are the ones that bought housing 5-10+ years ago, everyone else is extremely struggling or if you are a Canadian that works in another country paying 18% flat income tax and are buying a house in Canada. Having high housing costs is the worst thing for the productivity of a country and you will see Canada to continue to go downwards economically as there is nothing stopping housing inflation due to excessive immigration and FOMO.
I believe the issue is they're paying $3200 a month in rent and have other expenses on top of that. Most likely their monthly expenses are in the $5000 to $7000 range range which doesn't leave a lot as they also need to save for retirement. Its just a common situation in Vancouver. There are a lot of couples that make this type of income which may seem like a lot but in Vancouver it just isn't. If you didn't buy during a certain time period you got priced out as the prices of houses went from $500,000 to $2,500,000 within 20 years. Until you're in it you don't understand. Imagine wanting to buy a house at $500,000 and then all of a sudden the prices are $800,000 within a short period of time and then over a $1,000,000 and not going down. Conventional wisdom is to save money and wait until the prices come down but they never really did. Even the $3200 a month they pay for their condo is actually very cheap for Kitsilano.
And if someone bought that property today with lets say $100,000 down the cost of ownership would be well over $5000 a month. In the Kits/downtown area 1 bdrm condos are getting close to the 1 million dollar mark for nicer decent sized units.
If you don't own a home here you will never be able to catch up with inflation and get ahead. Home ownership is the only way a person can succeed in this country. Without it you are simply spinning your wheels unless you make a ridiculous amount of money.
@@markadler8968Absolutely false. I work with a single individual who has rented all his working life to date, and has a fairly substantial investment portfolio. He prioritized investing over excessive spending, and the results speak for themselves. He very recently bought a house, and his down payment exceeds what I paid for my home 12 year ago, with money left to keep growing. Owning a home doesn’t mean anything. I know renters that have made “boring” investments over the years that have seen substantial gains. I also know homeowners who have spent the equity in their home as fast as it came in, and have nothing to show for it.
Exactly! But hopefully the geopolitic situation and tax for capital gains will help little bit. I do not see line up of Hong-Kong investors to buy Vancouver real estate any more. And there are so many other places to park capital out there so much better then Vancity.
The only way to live in Vancouver is to live in a van, or live on a boat and float on the river, all free of charge. Living anywhere on land in a structure is only for the newly rich that are flying in from some other foreign country.
What the government is doing is to replace the local residents with richer immigrants. After all, with your pathetic Canadian salary, it's difficult to buy anything these days.
They're not outnumbered and they're not overcrowded. The issue is a large CANADIAN population bought up the housing in the 90s and 00s then denied new construction/density (this is effective in Vancouver because it's limited by the ocean, US boarder, and mountains). They got the houses very cheap and will stay there for decades - probably until the 2050s. As a result, they live affordably and there is low supply for the next generations. As for "overcrowding", our major cities are actually depopulating due to prices and lack of supply. For example, the city of Toronto now has a falling population every year. Very hard to say it's overcrowded - most neighbourhoods are suburban with huge lawns and low houses. Just look on Google Maps and you'll see there's not lack of space, there's lack of density.
Couple hundred thousand combined income and cant upgrade from renting a 700 sq ft condo? Couple hundred thousand and you can only save 200 a month when paying 3k rent? Sorry, but this seems like a spending problem lol. Prices are rough here but not impossible to get in. 200k combined income you will qualify for 800k+ mortgage. That will get you a nice 2 BR condo a tad further out.
What are you doing with your money? Why don't you own a house rather than living in an apartment? You have two incomes, mentioned that you are married and live in an apartment? Its all choices - people are not willing to make the right decisions earlier on and then go on TV complaining about the cost of living? Not buying it.
I feel badly for this couple. If you talk to concierges, building managers, postal and courier employees they can tell you a lot about the wealthy foreign money in this city that sits vacant or occupied by a non English tenant/homeowner!
Too late. They are far too old. They should have bought a condo back when they could have easily afforded to and they would have had lower living expenses and a nice pile of equity towards their retirement.
@@shauncameron8390 it is the government’s fault. They need to change the policy so the housing markets aren’t abused. Take away all the loopholes. Wages aren’t keeping up with the artificial prices of homes. Teachers and even doctors can’t afford one. You would need 2-4 families’ income to buy one. That’s just wrong. Renting should always be cheaper than owning a home like the old days. Look what our cities look like today. Sad.
This is hardly news and at their income level moving to Chilliwack seems extreme. They make 200,000 per year, pay $3,200 rent and have one car with a payment and one credit card and are struggling to make ends meet? How high is that car payment and the balance on that credit card? She is quitting her job with this move as well? Is that a smart move? Maybe just move to a slightly cheaper place for around $2,500 per month. There are lots of wholes in this story that do not add up.
Had a guy sell his North Vancouver home for "kash", move to Chilliwack. But he worked for govt. ........in North Vancouver, As a result he "saved" a 100 grand, (this was two decades ago) but he had to BUY a new SUV to commute.......to N. Van. to work. Intotherwords, he never saw his family again. He was always on the road!!
This is happening all over the world but Vancouver and Toronto have always been expensive for the past 20 years ... Australia has the same situation , all countries in europe have the same issues .Portugal used to be cheap but now it is impossible to find an apartment and the rent is too much ...
Poor financial decisions. I live in the same neighborhood in a far better location and make less money. The difference is I bought when I had the chance back when it was somewhat affordable. I know so many people like them that had the opportunity to buy back then and just didn't. Now they along with many people like them will be working into their 70s.
@@markadler8968yeah that’s why I am gonna save and when interest rates are at an all time low I will bite, I rly hope TO will have a crash but then again it’s something everyone wants.
Just wondering where all the low and middle-class income live? If they can't do it, then who's working those non-living wage jobs in Vancouver, and how are they affording a shelter there?
@@BC_GeoffTry finishing high school. Let me guess you’re one of the diversity crowd turdo imported recently? Which third world country did you come from?
I earn 135k$ per year, single income, around 80k$ net income... And still, I was able to fill entirely my RRSP, my TFSA, clear my home from my mortgage, and being debt free with an equity around 1.25M$... and be way younger than them. They are really bad with money, there is no other explanation about this.
Don’t move to London, Ontario. Downtown part of the city has lots of poverty, drug addicts and homelessness. Rent for 2 bedroom is in the $2000.00 a month. Finding a high paying job is challenging in London, Ontario. Having a post-secondary degree is almost useless here where there is limited field to find that career. Housing is over a million dollars. Might as well move to a small Ontario town like Chatham, Tilbury or Petrolia.
Did she say the couple make just under $200,000 thousand dollars a year and can't afford the $3,200 rent a month...Wow, how would someone making just $50,000 even consider living in Vancouver.
Surrey condos less than 15 years old are only $500k at 750 sq ft. How on earth are they not able to afford anything closer than Chilliwack? Their numbers don’t make sense.
Did she say more than $3200 p/month for 700sq ft apartment. R u serious?!? We have a condo in Toronto and I would NEVER charge my tenants that p/month. That’s obscene. Please tell me that is *not* typical rental cost in Vancouver?
NOW it's too expensive??? 😂😂😂 it was ridiculous 20 years ago. I made a 400% profit when I sold my tiny little house in 2017 and left for Alberta where the sane people live. 🙄
Very expensive, but when she mentioned 'I'd like to save up for retirement', she looked like shes in the age of retirement soon. Its sad to see they haven't started saving yet. I'm 39 and I bought a place in Surrey when my husband and I were 32 bc I knew it wouldn't be smart living in Vancouver, even though we wanted to. Sometimes you got to get to the realization earlier before you get too old.
People cannot even live in Langley. Langley is becoming horrible for affordability, and for all the minimum wage jobs, there is no where to live here either. Unless you want a 400sqft 1600/month basement closet. I am thinking of moving out to the Wack but even their rent is going up, maybe because its supply and demand. Time of think of alternatives in BC out of lower mainland.
Huh? The math doesn’t add up. 200k gross nets you about 10k per month to spend. Rent is 3.2K per month which is an acceptable 1/3 of income. Where is the remaining 6.8k going? Dining out?
0:45 so the couple makes "just under a couple hundred thousand dollars", like what does that mean? between 100k~1m?? and they're only left with 200 a month with just 3200 on rent and car payments? what car did they buy lol.
New Brunswick, PEI, NWT, Yukon, and Nunavut combined has 17 Members of Parliament in Ottawa. India has 17 Members of Parliament in Ottawa. 100000 Germans occupied France and it was a big deal. 1.7 million East Indians currently occupying Canadian homes. Something smells funny here
Couple of hundred thousand dollars year? Combined annual income more than $200k and they still renting? It's obvious, they could have bought years ago, further out say Coquitlam or Surrey , but they didn't want to leave Kits... cuz you know... Vancouverites.. have to live next to the beach... Now they are priced out of everywhere and only place they can afford is ChillyWack 🤣
They have probably lived in the same unit/neighborhood for at least a decade. They could have bought that unit for about 400K back then and had a few hundred thousand in equity and a lower monthly payment today. Now even in Chilliwack housing is expensive and they can't afford to buy there as well and will be working into their 70s. I live in Kits in a far better location than them, make less money but can afford to live there and save for retirement because I bought instead of renting years ago.
Ilegal immigrant voters not refugees and foreign students that are here for one reason only permanent residence. There not being kicked out when their visa is expired planned wef government and university greed
Yes!! Another solution for rent to lower is for Government to add policy for employers to allow work from home (if its possible to the work they do). I could move to the the less populated areas of Canada and those who feed of rents of others to pay their mortgages will rethink their choices and not make real estate as investments. Im now working from home, however, my partner isnt when he could (company is working on systems so they can wfh). Once he can, we'll ditch our car and move somewhere out of the city.
This couple probably has more debt/interest payments or are travelling more than what they're revealing as, assuming they're taking home $120,000 after taxes, they should be able to save $40,000 to $45000 per year based on $38,400/year rent, $7200/year car payments (estimated), and $24,000/year living expenses (estimated).
They would be taking home far more than 120K a year because they have two separate incomes. I make as as much as them combined and my pay after taxes is over 130K
Where is the humanity? Developers/landlords are simply passing the cost they themselves incur down to their tenants and in most cases the rent does not even cover their mortgage. To give you an example that 750 square foot condo she is renting is about $800,000 in todays market. If the owner had $700,000 in debt his mortgage would be almost $5000 a month plus taxes, insurance, maintenance fees, etc. If you add all that up that would mean a landlord for that property would be losing over $2000 a month at that rental rate.
Too bad they didn't buy a place years ago, but we don't know their personal struggles. She must be at least 55, there aren't too many years left to save for retirement. No one wants to be forced from their home, but it's what they have to do to save money for their old age.
The fundamental issue is this: Canadians are getting scurvy from Malnutriion from being unable to afford all the food they need, going homeless due to high rent, losing good jobs because taxes are better elsewhere, out of control immigration in our service based ecnomy. Our fed and provincial governments have failed to protect Canadians from corporate greed They have failed to innovate our economy to allow more jobs they have failed to build viable infrastructure to accomodate the new Canadians coming and IMO they have failed to keep our country sustainable there is already a mass exodus of Young Canadians leaving because our governments have failed protect young Canadians from our broken system. Who IS GOING TO REPLACE the older Canadians? Immigrants? they are leaving too lol. Our Government is totally out of touch with what Canadians actually need.
The solution is simple. Build non-market rental housing= Co-ops. Target criminal money laundering into housing and force property owners to openly state who is the actual owner of the property. Free up the red tape and stop corporate landlords from owning residential housing.
All the people making the laws are rich and greedy, likely made much of it from real estate, why would they do this? They don't give af about working class people
Vancouver an dBC has ALWAYS had non-market rental co=ops. Friend FOUNDED one with CMHC and BC prov. assistance, which is clearly in legislation for decades in BC. But any time govt. is involved you have RED TAPE, and have to have the people that know how to navigate it. I'ts been done in BC for decades. As far as "corporate landlords" it's impossible: most very large homes are LLC's for liability reasons. Think Bridal Path in Toronto: the resdients own them, but they're all numbered companies in the Bahamas, with a mortgage (if any) places with the Royal Bank of Canada.........Bahamas. Brother in law was a manager there for a decade!
i have an idea, lets raise property taxes some more. Then we can juggle the money around and have it spent here and there cuz every dollar spent becomes like $1.25 eventually rite....
To be that age and have that kind of high income they must be very poor managers of their money. First their age. They are in the 60s and still renting? If they had bought a house with the normal time frame for people in their age group, they would have bought a house in Vancouver sometime in the 80s or 90s - which means they could have bought a house somewhere in the 200s to mid 300s. That alone in fact seems to be the main issue. They are renting. Duh....
When we had a dead housing and job market and free trade sent corporations and jobs out crime was up Canadians threw out Conservatives. The Liberal solution to fix it was foreign investment and immigrant money and people were happy but like all upsides the downside is inevitable. Once you've lived 60+ years you'll get it, or use your $500 phone to research it.
The Bank of Canada and the Big 5 kept interest rates so high in the late eighties (it happens elsewhere) sop overseas suitcase money showed up and bought cheap, as high INterest detonates house prices. When thbe Bank of Canada FINALLY had rates down, homes doubled, then trippled in price in less than three years. It's the Bank of Canad and it's draconian polices PLUS in Canada young couples don't get to deduct interest. Who can blame some overseas looking for opportunity when OUR OWN govt. GIVEs them that chance??? Go Taiwan. !!
The hole country is to expensive. Vancouver definitely on another level though. I don’t even like visiting anymore. Cost too much and the people are rude af
If you are earning 200 000$ per year, as combined income... not even as a single income that will be taxed way higher for a single person... and you cannot make ends meet, then you are doing something wrong....
Its always been too expensive in Vancouver - her solution is the same we've done forever..move to smaller cities if we want more spending money in our pocket. Not rocket science. Vancouver, Calgary, Toronto...expensive..the rest..you can find cheap.
This is way remote work is good you can move to a more cheaper city and still get paid more I work for a Vancouver IT company but live in Montreal the rent is less I could care less about the harsh winters as long as I don’t broke
Instead of having developers buy land and build housing, the government needs to think about building social housing. This has been a successful strategy in the past for Canada and in the last 30years for many other countries facing a housing crisis. Japan, Finland, Switzerland, Singapore, China and more. Those countries took the bull by the horns. We should be able to do that. And in turn, it could create and expand suburbs or smaller cities. Again, it was successfully done in the past HERE, IN CANADA and can be done again to help ppl expand & save money or be closer to their job in the city and reap the benefits. But we all know that this housing crisis is just making everyone feel insecure and uncertain of their future. The couple in the video did the right thing and will not regret their decision after some re-adjustment...and they got a good break to be able to live not too far from the city
Yeah good job social housing. Building materials don’t magically become cheaper because it’s social housing. What about the builders and trades involved? Are they less expensive because it’s social housing? Is the land cheaper too? Because it’s social housing?
It used to be til the multiple property owners swooped in and started buying up homes and apartments. Rent doubled in two years and houses on our block went up $800,000 in less than two years. Finally had to move from Chilliwack. It's ridiculous
Those without mortgages can be better off in BC. We moved back to BC after living in the Maritimes, because we found BC is cheaper for us and gave us more disposable income in our retirement.
Is it a news, do you guys have nothing to talk? Everyone knows city of Vancouver is expensive, city of Toronto is expensive, London is expensive, New York is expensive. This is normal In big cities now
The alarming difference between comparing New York or London to Toronto and Vancouver is that New York and London have very diversified economies and professions. Toronto and Vancouver have artificially propped up their economies with real estate as their biggest economic drivers. Very unstable. Money laundering through Canadian real estate is the highest in the "developed" world.
@@Scottieguru Not truth. Ppl are always talk about money laundry . Less than 3% foreigners buyer in Vancouver and Toronto, now there is not allow foreigners buyer till 2027. It is all local Canadian buyers
Wondering why this is happening in Vancouver? Perhaps due to political corruption i.e. facilitating profits from crime - drug trafficking, human trafficking etc. by ignoring whistleblowers thus giving permission for the money laundering to go on? What can honest citizens do when their leaders enable the mess?
After deducting taxes & others for 100,000t annual income, net pay would be somewhere in the 72,000 range which would translate to 6,000 monthly, less monthly rent of 3200. Not much is left.
Vancouver proper and the North Shore have NEVER been cheap. Over the bridge is where regular people moved, until prices caught up there as well. My 5 acres in the USA was 10 grand, while in 1969 my unlce bought 10 acres in Langley, empty, and paid 100 grand. It's assessed now at 4 MILLION and would sell today for 5 million in a day. Deal with it.
name one so called free country is cheap. all of us are expensive and not safe. canada, usa, uk, france.... all expensive and not that clean and not that safe to be honest.... australia is even alot MORE expensive.
Give us a break. Yes Australia is more expensive and unaffordable but the salaries are also higher there. US has way much better pay (50-60% higher than similar jobs in Canada) and more affordable housing. My friends bought a two bedroom condo in downtown Chicago which cost 400k. How about Toronto and Vancouver?
Everything is built on interest rates and decades upon decades, upon decades upon decades each and every province of those governments not doing anything on housing if they did, we wouldn’t be here lazy lazy lazy government officials they had 40 years to fix the problem but no they didn’t care now they care, but they’re so far behind try to trust in government. You look up the rent it’s disgusting. because of all of these governments, do they really care about Canadians roughly the only thing they care about is the Canadian tax dollars and corporations any of these parties are truly a problem for Canadians all of them are decades to fix the problem. They all didn’t care if they did, but now. And why trust anybody government that gets paid too much for so little?
Hypothetically both got university degrees, raised kids and sent them to university, travelled all over the world, ate out regularly, chose to live in an expensive area in a large condo probably with $700 condo fees monthly, etc. It all adds up. Perhaps they chose to live their life fully but had to sacrifice a house. All they have to do is adjust their lifestyle a bit and they can still manage living where they are. I think they don't want to give up the cushy lifestyle and expensive car. Can't have everything.
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It is too expensive. Life in Canada is too expensive these days.
I am in Toronto ,too expensive i am leaving Canada this year
@@L.l12340- can you take me with you?
@@SimRacingVeteran😂😂😂😂😂😂😂
I believe life everywhere is too expensive these days :\
toronto and vancouver need to vote in a more cerebral way.
My wife and I make $200k a year and even we dont dream of moving to Vancouver. General rule is your house shouldnt be more than 4x your income. Meaning we can only afford a $800k home, good luck finding that in Vancouver. Let the city collapse under its housing issues
I was lucky enough to have 5 years of living in Kitsolano , Vancouver from 2005 to 2010. My apartment just a few blocks from the beach was $940 per month, but it was a very badly kept 1913 walk up building, when I saw asbestos behind the kitchen counter, when a piped leaked…. I ran back to Toronto! 😂
You sound like a fool.
It will never collapse and will be double the price it is now in 10-15 years. Buy whatever real estate you can afford as it is the only way to keep up with inflation.
Look at "City-Data"; people have been posting about the coming "housing Armageddon" in Van. for decades, Isn't going to happen. YOU and your wife CAN afford a two bdrm./two bath high rise concrete condo. So start somewhere.
@@HeronPoint2021 Bubbles eventually pop. Keep a lookout on crime rates which will be on the increase as things become "unfair".
WOW, my 750 Sq ft apt in Ohio is $656 a month market rate and I was considering moving to Canada a few years ago. Looks like I dodged a bullet.
Canada blows dude and it looks like it's only gonna get worse. I'm considering moving to the u.s, stay where u are
Canada is ruined. Globalism destroyed the place. Maybe after the great fall.
Why would you want to move to Canada?
Nobody wants to live in ohio.
Even in small towns in Canada 1 brs are $1500 a month now.
Just under $200k combined and still can’t afford living there? Good lord Vancouver! Wow
Sounds to me like earning just under 200k when you live in Vancouver and pay as much rent as they were paying seems like a lot but really Isn't.
@@mikeh2129 200K a year after taxes is about 150K for two separate incomes. The rent they are paying adds up to roughly 39 K per year which leaves about 100K left over. Something definitely does not add up. I live alone in the same neighborhood and make a bit less than them and have roughly the same or slightly higher living expenses and am living very comfortably and saving for retirement.
@markadler8968 What I don't understand about this couple is if the two of them are feeling a so called financial pinch and are finding it unaffordable where they live in this current video, I can understand moving to a cheaper place but why would she quit her job in that situation? Quitting her job based on the situation she described doesn't seem like the smartest idea. Just my opinion
They chose to live in a new rental in Kits. Their situation is entirely their making by choosing a high end area near the beach and downtown. Don't by the victim story.
@@mikeh2129the new town Chilliwack is 100km from Vancouver so too far to commute for her old job that had to be done in person. so she could find a new job in Chilliwack, agree that would help
So here’s my theory: big cities serve different purposes than most neighborhoods. I’ve worked and lived in quite a few cities - Vancouver, Seattle, Shanghai, Singapore. These kind of cities are always expensive and the governments keep it that way, knowing how this will affect the quality of life for the residents. But they still do it for the GDP growth. Real estate transaction and property tax are major parts of an economy. The government would rather have nice numbers to present to the news, saying how much the GDP has grown, than actually bring down the cost of living for people
That’s complete nonsense. Housing prices are driven by demand not government and property taxes are lower in high density cities than in low populated areas. Government employees and politicians, btw, live in houses too and many earn less money than a factory worker or truck driver.
If you dare make enough money to compete with the foreign money, the Fed Libs and BC NDP will set you back with a 54% marginal tax rate.
So they can hire all those civil servants we need so desperately.
its not a rent issue with this couple its a LIFESTYLE issue. in this circumstance, making around $200,000/year, they should be able to still live within reason in vancouver. i would like to know the lifestyle behind this couple. they are still making car payments with that income? they must drive fancy cars, go out for dinner 5 days/week, travel lots and etc etc because i know couples that live in vancouver that make around $200/000/yr and they are not in that situation. the math is not adding up and if its not adding up its a lifestyle issue. i see this all the time on the news and i dont even know why THIS story aired we all know the rent is high, but when a single couple like this is earning 6 times their yearly rent expense and still cant save money its a lifestyle issue.
No it isn't. I don't need to live like a pauper. Let the city die. I like eating out and building cars and spending money on things. And if I can't do that what's the point? To just live another day? Why? I want a house. A summer house. A car collection. And when I make good money I should have what I want. Not sacrifice. So. No more 27 dollar lunch with 15 dollar parking. And no large and paying tax in a city that subsidizes things. Just move away.
I live in the same neighborhood, in a much better location, my unit is far nicer than theirs and I make far less money than them. The difference is that I bought instead of renting way back and I live within my means. This couple could have bought that condo for around 400K about 10 years ago, had a mortgage lower than their current rent and had close to half a million in equity towards their retirement. Now they have to rent in Chilliwack and will be working until their 70s.
@@buysncharge Where pre tell is this magical location you live in that you can do all of these things even on a very high income? Because what you just described is very expensive to own and maintain in this country no matter where you are located. I guess if you are going to fantasize you might as well go big. You sound like the the typical disenfranchised whinging millennial demanding everything and not willing to put in the effort to get it.
@markadler8968 well. Here's a hint. The most expensive place in the world. Hydro dam. And yes its normal to have vacation homes and car collections. Especially when you have dozens of employees. The dream in this region is dead. A regular person with what's considered acceptable income would spend 65% of their income to rent one room. So yeah. Economy is garbage. I have owned 35 cars. I have spent lots of money and made lots of money. And I'm telling you it isn't normal to accept driving a 10 year old car you can't afford to literally just give away and replace. It's normal to buy a shed just to have something to build when a friend visits. It's normal to build fun recreational vehicles to drive up to your property. This has just been conditioned away from you. To the point you think it's absurd. People used to have boats and planes and snow mobiles and property while being regular middle class.
@@buysncharge You say you have dozens of employees and have owned all these things then say it it should be affordable for the average person to own planes, vacation homes and multiple cars? You do realize you are contradicting yourself right? Also you live in a hydro dam? That must be interesting 🤣🤣.
Just so you know I am not conditioned to accept anything and am not a fan of governments, taxes or their policies. I am just a realist who is trying to do the best he can within the system we have in place. Of course the average tax paying deserves a far better quality of life but that scenario simply does not exist anywhere worth living .
Our income tax system is not set up for $1M+ houses, as it takes well into a six figure income to pay for a condo and the income tax you pay is upwards of 40%+. The only people surviving financially are the ones that bought housing 5-10+ years ago, everyone else is extremely struggling or if you are a Canadian that works in another country paying 18% flat income tax and are buying a house in Canada. Having high housing costs is the worst thing for the productivity of a country and you will see Canada to continue to go downwards economically as there is nothing stopping housing inflation due to excessive immigration and FOMO.
Grotesquely excessive immigration.
I believe the issue is they're paying $3200 a month in rent and have other expenses on top of that. Most likely their monthly expenses are in the $5000 to $7000 range range which doesn't leave a lot as they also need to save for retirement. Its just a common situation in Vancouver. There are a lot of couples that make this type of income which may seem like a lot but in Vancouver it just isn't.
If you didn't buy during a certain time period you got priced out as the prices of houses went from $500,000 to $2,500,000 within 20 years. Until you're in it you don't understand. Imagine wanting to buy a house at $500,000 and then all of a sudden the prices are $800,000 within a short period of time and then over a $1,000,000 and not going down. Conventional wisdom is to save money and wait until the prices come down but they never really did. Even the $3200 a month they pay for their condo is actually very cheap for Kitsilano.
conventional wisdom is to buy into something modest as early as possible and ride up, not save and wait for prices to come down
And if someone bought that property today with lets say $100,000 down the cost of ownership would be well over $5000 a month. In the Kits/downtown area 1 bdrm condos are getting close to the 1 million dollar mark for nicer decent sized units.
That's not the issue. The real issue is how are they making a combined 200K a year and still struggling?
Wow really professor
Buying today is possible. Just if you're willing to make sacrifices on life style. Not all are willing, but those who do will eventually be rewarded.
when exposed to the international market, a typical canadian's overall earnings, savings, and assets is a joke.
If you don't own a home here you will never be able to catch up with inflation and get ahead. Home ownership is the only way a person can succeed in this country. Without it you are simply spinning your wheels unless you make a ridiculous amount of money.
@@markadler8968Absolutely false. I work with a single individual who has rented all his working life to date, and has a fairly substantial investment portfolio. He prioritized investing over excessive spending, and the results speak for themselves. He very recently bought a house, and his down payment exceeds what I paid for my home 12 year ago, with money left to keep growing.
Owning a home doesn’t mean anything. I know renters that have made “boring” investments over the years that have seen substantial gains. I also know homeowners who have spent the equity in their home as fast as it came in, and have nothing to show for it.
@@markadler8968 where do you think our country will be if this keeps getting worse?
Exactly! But hopefully the geopolitic situation and tax for capital gains will help little bit. I do not see line up of Hong-Kong investors to buy Vancouver real estate any more. And there are so many other places to park capital out there so much better then Vancity.
The only way to live in Vancouver is to live in a van, or live on a boat and float on the river, all free of charge. Living anywhere on land in a structure is only for the newly rich that are flying in from some other foreign country.
Why are Canadians now suddenly vastly outnumbered in overcrowded Canadian cities?
What is a “Canadian”? To me a Canadian is anyone who holds a Canadian Citizenship. To you it seems to be based on the colour of someone’s skin.
Canadian people are citizens by choice and they are not supporters of a foreign country nor foreign culture.
blame it on free trade, globalization of housing market, and ill-conceived policy since forever ago
What the government is doing is to replace the local residents with richer immigrants. After all, with your pathetic Canadian salary, it's difficult to buy anything these days.
They're not outnumbered and they're not overcrowded. The issue is a large CANADIAN population bought up the housing in the 90s and 00s then denied new construction/density (this is effective in Vancouver because it's limited by the ocean, US boarder, and mountains). They got the houses very cheap and will stay there for decades - probably until the 2050s. As a result, they live affordably and there is low supply for the next generations.
As for "overcrowding", our major cities are actually depopulating due to prices and lack of supply. For example, the city of Toronto now has a falling population every year. Very hard to say it's overcrowded - most neighbourhoods are suburban with huge lawns and low houses. Just look on Google Maps and you'll see there's not lack of space, there's lack of density.
Couple hundred thousand combined income and cant upgrade from renting a 700 sq ft condo? Couple hundred thousand and you can only save 200 a month when paying 3k rent? Sorry, but this seems like a spending problem lol. Prices are rough here but not impossible to get in. 200k combined income you will qualify for 800k+ mortgage. That will get you a nice 2 BR condo a tad further out.
I’m all the way out in maple ridge and it’s still at 2,200 for my rent and strata fees. Problem is that I can’t afford to leave either
When she described moving to Chilliwack as a luxury...i died.
I remember when BC would PAY YOU to move to Chilliwack or Squamish.!!
@@HeronPoint2021really when? How much did they pay?
What are you doing with your money?
Why don't you own a house rather than living in an apartment? You have two incomes, mentioned that you are married and live in an apartment? Its all choices - people are not willing to make the right decisions earlier on and then go on TV complaining about the cost of living? Not buying it.
when was $200 savings ever enough to cushion anything?
LOL
I feel badly for this couple. If you talk to concierges, building managers, postal and courier employees they can tell you a lot about the wealthy foreign money in this city that sits vacant or occupied by a non English tenant/homeowner!
This is why remote work is awesome
But how can i live in lower mai land when ur pay as same as ur rent @@cryptoholica72
or begin hour own business. capitalism is awesome.
Not when the G govt is getting me down
@@nickyalousakis3851 Let the filthy peasants eat cake
If this couple is making $200k/year, and still financing their car…. maybe they should work on their finances…
Too late. They are far too old. They should have bought a condo back when they could have easily afforded to and they would have had lower living expenses and a nice pile of equity towards their retirement.
Why did they need a car ? 😮
Exactly.
A lot of excuses
Why is our government doing this to their own people?
For Lord Klaus Schwab of course!
Whatever hurts the 99% makes the 1% richer 💰
They hate you.
People living beyond their means and then crying about struggling is not the government's fault.
@@shauncameron8390 it is the government’s fault. They need to change the policy so the housing markets aren’t abused. Take away all the loopholes. Wages aren’t keeping up with the artificial prices of homes. Teachers and even doctors can’t afford one. You would need 2-4 families’ income to buy one. That’s just wrong. Renting should always be cheaper than owning a home like the old days. Look what our cities look like today. Sad.
I pay 3100 in Victoria BC. It's insane.
Wait, they make a COUPLE OF HUNDRED THOUSANDS a year?
Which puts them among the 11% in Canada.
@@shauncameron8390Not if that is before tax.
Thank you Justina 🎉👏🏽
This is hardly news and at their income level moving to Chilliwack seems extreme. They make 200,000 per year, pay $3,200 rent and have one car with a payment and one credit card and are struggling to make ends meet? How high is that car payment and the balance on that credit card? She is quitting her job with this move as well? Is that a smart move? Maybe just move to a slightly cheaper place for around $2,500 per month. There are lots of wholes in this story that do not add up.
🎯
Totally ! so she has now quit her job....their rent is maybe half in chilliwack......so they are basically in the same predicament.😮
Had a guy sell his North Vancouver home for "kash", move to Chilliwack. But he worked for govt. ........in North Vancouver, As a result he "saved" a 100 grand, (this was two decades ago) but he had to BUY a new SUV to commute.......to N. Van. to work. Intotherwords, he never saw his family again. He was always on the road!!
Vancouver is not expensive, it is insanely expensive
This is happening all over the world but Vancouver and Toronto have always been expensive for the past 20 years ... Australia has the same situation , all countries in europe have the same issues .Portugal used to be cheap but now it is impossible to find an apartment and the rent is too much ...
Thanks to the Portuguese government allowing digital nomads to move in en masse.
it is too expensive, but how do u make just under 200k and struggle like this? thats the real Q
Poor financial decisions. I live in the same neighborhood in a far better location and make less money. The difference is I bought when I had the chance back when it was somewhat affordable. I know so many people like them that had the opportunity to buy back then and just didn't. Now they along with many people like them will be working into their 70s.
Stupidity is the only answer. Lol
@@markadler8968yeah that’s why I am gonna save and when interest rates are at an all time low I will bite, I rly hope TO will have a crash but then again it’s something everyone wants.
The powers that be don’t care because there’s always someone there to replace you
Yep. Found that out living in Vancouver.
Just wondering where all the low and middle-class income live? If they can't do it, then who's working those non-living wage jobs in Vancouver, and how are they affording a shelter there?
@@madimc I see so many people in Vancouver working low-income jobs. So I still don't get it.
Welcome to the New Canada 🇨🇦
You mean Post National Canada comrade
Have you mastered the Punjabi language yet?
Is there a single Canadian left in overcrowded Vancouver?
Yes
whats a canadian
Rarely, but some of us were born here.
@@BC_GeoffTry finishing high school. Let me guess you’re one of the diversity crowd turdo imported recently? Which third world country did you come from?
@@barfsheoldsimpson224lmaoooo ask any of the diversity crowd. You’d know lol
Too many people moved to Chilliwack in the past couple years causing rent to double and houses to go up $800,000 in less than two years.
Yep. I moved too
$200k combined and still having trouble with finances ? Something does not add up, know people who make a lot less getting by just fine
They're living beyond their means.
I earn 135k$ per year, single income, around 80k$ net income...
And still, I was able to fill entirely my RRSP, my TFSA, clear my home from my mortgage, and being debt free with an equity around 1.25M$... and be way younger than them.
They are really bad with money, there is no other explanation about this.
God, I hate this channel and the people watching it. Money money money, bragging about money. You people are lame af and boring
Living in the GTA is too expensive.
Move to London Ontario bro !
Don’t move to London, Ontario. Downtown part of the city has lots of poverty, drug addicts and homelessness. Rent for 2 bedroom is in the $2000.00 a month. Finding a high paying job is challenging in London, Ontario. Having a post-secondary degree is almost useless here where there is limited field to find that career. Housing is over a million dollars. Might as well move to a small Ontario town like Chatham, Tilbury or Petrolia.
Did she say the couple make just under $200,000 thousand dollars a year and can't afford the $3,200 rent a month...Wow, how would someone making just $50,000 even consider living in Vancouver.
Lifestyle issue, not rent issue!
Paying over 3k to live in kits and a car payment are already poor financial decisions.
Too lazy to bike, too stuck up to be seen in a lower income area. Typical boomers.
Probably heavy spenders
Pretty much.
Yup, my thoughts exactly.
I was an international student in canada. Moved back to my country after 7 years, everything get expensive
Surrey condos less than 15 years old are only $500k at 750 sq ft. How on earth are they not able to afford anything closer than Chilliwack? Their numbers don’t make sense.
Did she say more than $3200 p/month for 700sq ft apartment. R u serious?!? We have a condo in Toronto and I would NEVER charge my tenants that p/month. That’s obscene.
Please tell me that is *not* typical rental cost in Vancouver?
NOW it's too expensive??? 😂😂😂 it was ridiculous 20 years ago. I made a 400% profit when I sold my tiny little house in 2017 and left for Alberta where the sane people live. 🙄
people learn about money and cost of living too late!
trudeau doesnt care. he got 1 million immigrants + 800k int'l students lining up for the unit. thank you for the vacancy
Very expensive, but when she mentioned 'I'd like to save up for retirement', she looked like shes in the age of retirement soon. Its sad to see they haven't started saving yet. I'm 39 and I bought a place in Surrey when my husband and I were 32 bc I knew it wouldn't be smart living in Vancouver, even though we wanted to. Sometimes you got to get to the realization earlier before you get too old.
At her age, she hasnt bought a house YET?
Some people don't feel like that's the point of life.
@@icantwiththis
Because some people are that short-sighted and ignorant.
People cannot even live in Langley. Langley is becoming horrible for affordability, and for all the minimum wage jobs, there is no where to live here either. Unless you want a 400sqft 1600/month basement closet. I am thinking of moving out to the Wack but even their rent is going up, maybe because its supply and demand. Time of think of alternatives in BC out of lower mainland.
Huh? The math doesn’t add up. 200k gross nets you about 10k per month to spend. Rent is 3.2K per month which is an acceptable 1/3 of income. Where is the remaining 6.8k going? Dining out?
0:45 so the couple makes "just under a couple hundred thousand dollars", like what does that mean? between 100k~1m?? and they're only left with 200 a month with just 3200 on rent and car payments? what car did they buy lol.
New Brunswick, PEI, NWT, Yukon, and Nunavut combined has 17 Members of Parliament in Ottawa.
India has 17 Members of Parliament in Ottawa.
100000 Germans occupied France and it was a big deal.
1.7 million East Indians currently occupying Canadian homes.
Something smells funny here
Surrey really smells funny.
Deport them invaders
canada = commonwealth country, india = commonwealth country
Couple of hundred thousand dollars year? Combined annual income more than $200k and they still renting?
It's obvious, they could have bought years ago, further out say Coquitlam or Surrey , but they didn't want to leave Kits... cuz you know... Vancouverites.. have to live next to the beach...
Now they are priced out of everywhere and only place they can afford is ChillyWack 🤣
...and they'll be renting in Chilliwack. YOLO (you only live once) was probably their mantra.
They have probably lived in the same unit/neighborhood for at least a decade. They could have bought that unit for about 400K back then and had a few hundred thousand in equity and a lower monthly payment today. Now even in Chilliwack housing is expensive and they can't afford to buy there as well and will be working into their 70s. I live in Kits in a far better location than them, make less money but can afford to live there and save for retirement because I bought instead of renting years ago.
More space for refugees
Ilegal immigrant voters not refugees and foreign students that are here for one reason only permanent residence. There not being kicked out when their visa is expired planned wef government and university greed
Jagmeet Singh has family members already lined up to move in.
Yes!! Another solution for rent to lower is for Government to add policy for employers to allow work from home (if its possible to the work they do). I could move to the the less populated areas of Canada and those who feed of rents of others to pay their mortgages will rethink their choices and not make real estate as investments.
Im now working from home, however, my partner isnt when he could (company is working on systems so they can wfh). Once he can, we'll ditch our car and move somewhere out of the city.
And price out the locals over there like Torontonians did with Halifax.
All these years that passed....they could've been home owners instead of renters
Now they'll have to pay some slumlord for an overpriced basement suite. Oh, how the mighty have fallen.
This couple probably has more debt/interest payments or are travelling more than what they're revealing as, assuming they're taking home $120,000 after taxes, they should be able to save $40,000 to $45000 per year based on $38,400/year rent, $7200/year car payments (estimated), and $24,000/year living expenses (estimated).
They would be taking home far more than 120K a year because they have two separate incomes. I make as as much as them combined and my pay after taxes is over 130K
Well Kits has always been the $$$ part of Vancouver, so I can only imagine the prices now as the world is going to s***
It's gone yuppie hip,nothing g like how cool it was when I lived there for the 70's onward for 25 years..
Where is the humanity? Developers/landlords are simply passing the cost they themselves incur down to their tenants and in most cases the rent does not even cover their mortgage. To give you an example that 750 square foot condo she is renting is about $800,000 in todays market. If the owner had $700,000 in debt his mortgage would be almost $5000 a month plus taxes, insurance, maintenance fees, etc. If you add all that up that would mean a landlord for that property would be losing over $2000 a month at that rental rate.
Good move!
A friend of mine moved from Vancouver because it was too expensive. In 1995. Talk about slow learners.
😂
LOL!
Too bad they didn't buy a place years ago, but we don't know their personal struggles. She must be at least 55, there aren't too many years left to save for retirement. No one wants to be forced from their home, but it's what they have to do to save money for their old age.
They lived beyond their means. How did they make a combined 200K and couldn't save?
i got a one bedroom apt with a balcony overlooking the city of moncton skyline, heated with parking for $590 a month.
Yeah, but it's Moncton 🥴
@@lionelhutz5137 yes that's why moncton is the fastest growing city in canada.
The fundamental issue is this: Canadians are getting scurvy from Malnutriion from being unable to afford all the food they need, going homeless due to high rent, losing good jobs because taxes are better elsewhere, out of control immigration in our service based ecnomy.
Our fed and provincial governments have failed
to protect Canadians from corporate greed
They have failed to innovate our economy to allow more jobs
they have failed to build viable infrastructure to accomodate the new Canadians coming
and IMO they have failed to keep our country sustainable there is already a mass exodus of Young Canadians leaving because our governments have failed protect young Canadians from our broken system. Who IS GOING TO REPLACE the older Canadians? Immigrants? they are leaving too lol. Our Government is totally out of touch with what Canadians actually need.
The solution is simple. Build non-market rental housing= Co-ops. Target criminal money laundering into housing and force property owners to openly state who is the actual owner of the property. Free up the red tape and stop corporate landlords from owning residential housing.
😂
All the people making the laws are rich and greedy, likely made much of it from real estate, why would they do this? They don't give af about working class people
simplistic and not a good idea
The couple in the video have a personal finance problem, not a housing one.
Vancouver an dBC has ALWAYS had non-market rental co=ops. Friend FOUNDED one with CMHC and BC prov. assistance, which is clearly in legislation for decades in BC. But any time govt. is involved you have RED TAPE, and have to have the people that know how to navigate it. I'ts been done in BC for decades. As far as "corporate landlords" it's impossible: most very large homes are LLC's for liability reasons. Think Bridal Path in Toronto: the resdients own them, but they're all numbered companies in the Bahamas, with a mortgage (if any) places with the Royal Bank of Canada.........Bahamas. Brother in law was a manager there for a decade!
Corporate is at fault for this
i have an idea, lets raise property taxes some more. Then we can juggle the money around and have it spent here and there cuz every dollar spent becomes like $1.25 eventually rite....
Good idea. Let's get Mr. Ken Sim a new yacht
To be that age and have that kind of high income they must be very poor managers of their money. First their age. They are in the 60s and still renting? If they had bought a house with the normal time frame for people in their age group, they would have bought a house in Vancouver sometime in the 80s or 90s - which means they could have bought a house somewhere in the 200s to mid 300s. That alone in fact seems to be the main issue. They are renting. Duh....
Letting other rich people, and middle income students to come here in Canada and buy properties is what put ordinary Canadians in destitution.
When we had a dead housing and job market and free trade sent corporations and jobs out crime was up Canadians threw out Conservatives. The Liberal solution to fix it was foreign investment and immigrant money and people were happy but like all upsides the downside is inevitable. Once you've lived 60+ years you'll get it, or use your $500 phone to research it.
The Bank of Canada and the Big 5 kept interest rates so high in the late eighties (it happens elsewhere) sop overseas suitcase money showed up and bought cheap, as high INterest detonates house prices. When thbe Bank of Canada FINALLY had rates down, homes doubled, then trippled in price in less than three years. It's the Bank of Canad and it's draconian polices PLUS in Canada young couples don't get to deduct interest. Who can blame some overseas looking for opportunity when OUR OWN govt. GIVEs them that chance??? Go Taiwan. !!
The hole country is to expensive. Vancouver definitely on another level though. I don’t even like visiting anymore. Cost too much and the people are rude af
If you are earning 200 000$ per year, as combined income... not even as a single income that will be taxed way higher for a single person... and you cannot make ends meet, then you are doing something wrong....
Its always been too expensive in Vancouver - her solution is the same we've done forever..move to smaller cities if we want more spending money in our pocket. Not rocket science. Vancouver, Calgary, Toronto...expensive..the rest..you can find cheap.
This is way remote work is good you can move to a more cheaper city and still get paid more I work for a Vancouver IT company but live in Montreal the rent is less
I could care less about the harsh winters as long as I don’t broke
Instead of having developers buy land and build housing, the government needs to think about building social housing. This has been a successful strategy in the past for Canada and in the last 30years for many other countries facing a housing crisis. Japan, Finland, Switzerland, Singapore, China and more. Those countries took the bull by the horns.
We should be able to do that. And in turn, it could create and expand suburbs or smaller cities.
Again, it was successfully done in the past HERE, IN CANADA and can be done again to help ppl expand & save money or be closer to their job in the city and reap the benefits. But we all know that this housing crisis is just making everyone feel insecure and uncertain of their future. The couple in the video did the right thing and will not regret their decision after some re-adjustment...and they got a good break to be able to live not too far from the city
Everyone supports social housing...
just not in THEIR neighbourhood.
you want to pay even more taxes?
Yeah good job social housing. Building materials don’t magically become cheaper because it’s social housing. What about the builders and trades involved? Are they less expensive because it’s social housing? Is the land cheaper too? Because it’s social housing?
What! Vancouver just became expensive?..?
These people have a spending problem, just like most people complaining about cost of living
@@madimc
The poster is right. Canada has a major household debt problem for a reason.
A lot of it of your own making.
Chilliwack is no cheaper lol
That's what I heard
It used to be til the multiple property owners swooped in and started buying up homes and apartments. Rent doubled in two years and houses on our block went up $800,000 in less than two years. Finally had to move from Chilliwack. It's ridiculous
Compared to Kitsilano? Yes it is.
I agree, BC is crazy expensive. I have one foot out the door, retirement will hopefully take my other foot.
Those without mortgages can be better off in BC. We moved back to BC after living in the Maritimes, because we found BC is cheaper for us and gave us more disposable income in our retirement.
Uhm, they say they're scrimping a lot but they're paying for $3200 a month for their apartment at
But I'm guessing that that's like living in Manhattan in a luxury apartment 😂
Actually I hear there’ll be a lower Manhattan apartment going cheap really soon but be careful, it’s only 1/3 the size it’s claimed to be, lol.
Are the Canucks gonna win the Cup?
The begging cup on the corner
Moved to Abby. Can't be more happier...
Is it a news, do you guys have nothing to talk? Everyone knows city of Vancouver is expensive, city of Toronto is expensive, London is expensive, New York is expensive. This is normal
In big cities now
The alarming difference between comparing New York or London to Toronto and Vancouver is that New York and London have very diversified economies and professions. Toronto and Vancouver have artificially propped up their economies with real estate as their biggest economic drivers. Very unstable. Money laundering through Canadian real estate is the highest in the "developed" world.
@@Scottieguru
Not truth. Ppl are always talk about money laundry . Less than 3% foreigners buyer in Vancouver and Toronto, now there is not allow foreigners buyer till 2027. It is all local Canadian buyers
@@janiceho6034
Foreign students and temporary residents are exempt from the ban.
My plan is to move to Latin America at some point.
Wondering why this is happening in Vancouver? Perhaps due to political corruption i.e. facilitating profits from crime - drug trafficking, human trafficking etc. by ignoring whistleblowers thus giving permission for the money laundering to go on? What can honest citizens do when their leaders enable the mess?
there is NO humanity in justin's Canada
After deducting taxes & others for 100,000t annual income, net pay would be somewhere in the 72,000 range which would translate to 6,000 monthly, less monthly rent of 3200. Not much is left.
Vancouver proper and the North Shore have NEVER been cheap. Over the bridge is where regular people moved, until prices caught up there as well. My 5 acres in the USA was 10 grand, while in 1969 my unlce bought 10 acres in Langley, empty, and paid 100 grand. It's assessed now at 4 MILLION and would sell today for 5 million in a day. Deal with it.
Ya think? This is not "news".
Wah... its true? Canada actually been on fire this year? This is 8 months ago... now oct 2024 i wonder...... how much more hike it have been.
And, what's the point of this?
name one so called free country is cheap. all of us are expensive and not safe. canada, usa, uk, france.... all expensive and not that clean and not that safe to be honest.... australia is even alot MORE expensive.
Give us a break. Yes Australia is more expensive and unaffordable but the salaries are also higher there. US has way much better pay (50-60% higher than similar jobs in Canada) and more affordable housing. My friends bought a two bedroom condo in downtown Chicago which cost 400k. How about Toronto and Vancouver?
uS is cheaper. $400k detach in Houston. Also you make more money and pay less taxes.
This grandma speaks too fast, I couldnt;' understand
Nothing like Victoria and Vancouver !
Vancouver is too expensive
Everything is built on interest rates and decades upon decades, upon decades upon decades each and every province of those governments not doing anything on housing if they did, we wouldn’t be here lazy lazy lazy government officials they had 40 years to fix the problem but no they didn’t care now they care, but they’re so far behind try to trust in government. You look up the rent it’s disgusting. because of all of these governments, do they really care about Canadians roughly the only thing they care about is the Canadian tax dollars and corporations any of these parties are truly a problem for Canadians all of them are decades to fix the problem. They all didn’t care if they did, but now. And why trust anybody government that gets paid too much for so little?
It sucks too.
Why is this news?
under 100K combined isn't particularly good. hate to break it to you
Just under a couple hundred thousand she said, and for most couples that’s good.
They are 200k combined. They are better than most
They make under 200K combined a year. They're better off than most Canadians.
She looks like in the late 50s, and why didn't she have her own condo or house? What have they done when they were young.
Hypothetically both got university degrees, raised kids and sent them to university, travelled all over the world, ate out regularly, chose to live in an expensive area in a large condo probably with $700 condo fees monthly, etc. It all adds up. Perhaps they chose to live their life fully but had to sacrifice a house. All they have to do is adjust their lifestyle a bit and they can still manage living where they are. I think they don't want to give up the cushy lifestyle and expensive car. Can't have everything.