Report: Vancouver most unaffordable housing market in the world housing, market, Report, Vancouver, unaffordable

ACC-HE

VANCOUVER (NEWS1130) - Vancouver is number one but it's not exactly the best list to top.  A report by the Frontier Centre for Public Policy shows Vancouver has the most unaffordable housing market in the world.

http://www.news1130.com/radio/ne ... the-world-vancouver

Littleprince

if that's the case, people shouldn't be buying at this point... wait until it comes down la

快樂牛郎

Most unaffordable but people still have a place to stay at.  What does that tell you?

Littleprince

Most unaffordable but people still have a place to stay at.  What does that tell you?
快樂牛郎 發表於 2010-1-25 12:32

租屋掛﹖

快樂牛郎

If rent is affordable, what's the issue then? Is it a rule written in the law that everyone has to own a house?

ACC-HE

Most unaffordable but people still have a place to stay at.  What does that tell you?
快樂牛郎 發表於 2010-1-25 12:32

I don't know, what does that tell me?  Maybe they all got a house when it was not all that expensive?

Littleprince

If rent is affordable, what's the issue then? Is it a rule written in the law that everyone has to own a house?
快樂牛郎 發表於 2010-1-25 13:07

guess it's Chinese traditional thinking: everyone should have a shelter... (有塊瓦遮頭)

and in terms of 計算, renting a home is a 無底深潭 AKA 幫人供屋。。。可以係租左 20 年屋你仍然一無所有﹐而你朋友響 20 年前有能力拿出首期的﹐個個月比緊同你租金一樣的價錢﹐20年後已經 MORTGAGE FREE AND HAVE HIS OWN ASSET (間屋)﹐有 OPTION 可以賣掉套現﹐相對租屋的﹐一天未死還仍然要比租 (除非同 PLAYTINGTOY 爭天橋底訓)﹐所以好多人都情願買屋掛。。。

BiscottiGelato

Cuz most people assume that real estate prices can only go up, esp for Vancouver. And that housing prices increase outstrip most realistic expectation for income increase. Thus it's better to board the train before it takes off or you'll buy much less house for the same mortgage later...

From what I listened this morning, Vancouver is the most unaffordable because a median dwelling costs 9 years of salary on average. Most expensive city in GTA is only 5ish years if I didn't remember wrong.

peter236

Most unaffordable but people still have a place to stay at.  What does that tell you?
快樂牛郎 發表於 2010-1-25 12:32

Probably some of them are immigrants with the money.

KittyLeung74

Cuz most people assume that real estate prices can only go up, esp for Vancouver. And that housing prices increase outstrip most realistic expectation for income increase. Thus it's better to board th ...
BiscottiGelato 發表於 2010-1-25 15:11

Globalization brings hot money to Vancouver.  There are many properties, especially those deluxe ones, are sold in overseas.  That's why the housing prices go up and up, not just depending on the local economy.  

It is unaffordable to have a shelter.  If property price goes up, rent also goes up.