Vancouver spin on the obvious.
The globe and mail article I linked to a few days ago about the housing affordability study has been reported on locally in a Vancouver Province article by Ashley Ford. Comparing these two articles is interesting in where they differ:
1) The G&M article doesn’t draw any conclusions about future activity, but the Province article reports that: “That trend is expected to ease in some parts of the country next year as prices start to level off and even decline, but not in B.C. or Alberta.” Interesting to note that prices in some categories have already started to level off or even decline here in Vancouver, so I’m not sure where ‘not in B.C. or Alberta’ comes from.
2) Where the G&M articles says “Renters were much more likely to fall into this category of people who struggle to afford housing” the article in the Province says “However, high prices notwithstanding, it suggests it is still better to own a home than rent.” No. It doesn’t. It suggests that owners tend to have more money than renters (obviously), NOT that it is better to own than rent even with current high prices, which is a dangerous view to take concerning affordability.
3) It is unfortunate that in the local article there is absolutely no info about affordability levels in Vancouver compared to the rest of Canada, just the same National stats from the Globe story. It would have been informative to include this information and would have given the story a local angle.
*subtly edited to make it look like I didn’t make the obvious mistake that VHB pointed out.
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November 25th, 2006 at 10:45 am
Isn’t it about time you stopped paying your self storage company’s mortgage?
Absolutely! After all, if you “own” a $500K condo, you probably don’t have enough room to keep your-and-yours titanium road bikes, your retro Elektra walk-along-the-beach bikes and your food blender. So what better investment than a conveniently-located storage locker?
November 25th, 2006 at 10:22 am
True the sun rocks I am witness of prediction.I can see the truth even my views on vancondo.info in the past are simil…as being projected,Only sad thing people with no vote are participating with negtive approach,and they does not fully understand increase listing is because of projects are being worked right now but still purchase power is very much neck to neck I apeal to no people that be possitive and be part of the wind blow….
November 25th, 2006 at 1:14 am
Who needs windows when you’ve got an electrical outlet?
Ah yes, I neglected to mention that. The views are limited but you can hang curtains by your plasma tv* and display your favourite Vancouver skyline photo!
Keep in mind that this unit is in a quality development complete with pool, fitness room and concierge. Isn’t it about time you stopped paying your self storage company’s mortgage?
*Plasma tv not included.
November 25th, 2006 at 12:16 am
Another obvious point that the articles didn’t mention is that one big reason most homeowners don’t have affordability problems is that they bought at pre-bubble prices.
November 25th, 2006 at 12:02 am
Hahaha! Bcubbins, that is awesome.
I don’t even understand what that is.. An underground 191 square foot storage room for $77,000?
I love the write up:
Excellent downtown location in Westin Grand. Underground storage room with heating. No windows, but has electrical outlet. Good investment.
Totally good investment! Who needs windows when you’ve got an electrical outlet?! Awesome!
November 24th, 2006 at 11:55 pm
Why all the sudden complaints about “affordability”? There are still lots of reasonably priced places out there; you just have to look harder. Take this one for example…only 7 years old and right on Robson…
V614386
http://www.mls.ca/PropertyDeta.....ID=5097717
Only $77,000!!! How much affordable do you want? For that price you won’t get luxuries like granite kitchen countertops or bathroom, but it does come wired for internet access!
November 24th, 2006 at 10:33 pm
Oh come on now …, are you seriously suggesting there’s a difference?
Pope, could you hear my laugh?
November 24th, 2006 at 7:08 pm
It was actually in the Province, not the Sun.
Oh come on now VHB, are you seriously suggesting there’s a difference?
November 24th, 2006 at 2:54 pm
I’m not looking to complain about accuracy. I’m looking to complain at people getting paid to rationalize at a third grade level.
November 24th, 2006 at 2:10 pm
Ha! That totally made my day.
OK, the Province IS more of a joke than the Sun, but it’s one I can take.
[/lather]
November 24th, 2006 at 1:53 pm
It was actually in the Province, not the Sun. When complaining about accuracy, it helps to be accurate.
November 24th, 2006 at 12:25 pm
I looked on the sun contact page and they have email addresses for a lot of writers, but none for Ashley Ford.
Is that a psuedonym?
They do have contacts for the news editor and letters to the editor, but I’m not sure what good it would do. The Sun and Province have clearly shown that they will carry on with the ‘good time to buy’ line no matter what.
November 24th, 2006 at 11:22 am
The Sun’s contacts list:
http://tinyurl.com/uat6t
I have no idea which among the 247 editors they seem to have that you should contact. Do all these people actually read what nonsense appears in their paper? The Sun is a joke.
November 24th, 2006 at 11:17 am
There must be a complaints office.
If not, e-mail the editor of the section that produced this piece of cr*p.
Seriously. Please DO complain to the Sun. This joke is not funny any more.
November 24th, 2006 at 10:22 am
In all seriousness, who is the best person at the paper to bitch to?
November 24th, 2006 at 10:16 am
No anonymous: clearly the way to avoid affordability problems is to get several million dollars and buy a couple of Vancouver condos.
November 24th, 2006 at 10:01 am
I’m glad to see that the way to avoid any housing affordability problems is to buy instead of rent. Yeah, that makes a lot of sense in this market. What a bunch of junk.