All posts by VCI Admin

Where’s the love Vancouver?

This city has lost more than a thousand people a year in the 25-44 age group since 2012 and it’s not hard to guess why.

One of those people has an editorial in the Vancouver Sun:

Sure, I managed to pay rent on a 380-square-foot apartment and eat takeout sushi once in while, but I definitely haven’t saved for retirement or been able to afford to give birth yet. I’ve spent most of my 30s on the west coast (land of economic opportunities?) while I watched my friends on the east coast (with less education than me) buy four-bedroom houses and multiple cars.

Sure, they shovel snow, but they also run across the street to borrow sugar from the neighbours. They trade gardening tips with the elders living next door. Their children play in the backyard. They are happy and connected.

In Vancouver I’m lucky to get a hello in an elevator.

Read the full editorial here.

Are you in that 25-44 year old demographic and if so are you thinking of leaving or in love with the city and never gonna go?

Friday Free-for-all! March 24th 2016

It’s the end of another glorious work week and that means it’s time for another glorious Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Where politicians fear success
Best neighborhoods
Smart or lucky?
Foreign money problem
Squamish?
Cracks in the market?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Blame government for housing bubble

House prices continue to spiral upwards as more 25-44 year olds continue to leave the city. So who’s fault is it?

One recent study says blame politicians:

Given their policies, Ley’s paper questions how politicians, particularly B.C. Housing Minister Rich Coleman, found it possible to argue in 2015 that Vancouver housing prices were “pretty reasonable” and that foreign ownership of property had nothing to do with government.

“Yet it most certainly did, for governments had for 30 years led trade and investment missions to Asia, and had used the tool of business immigration to draw in entrepreneurs and their capital.”

The inflated housing prices that have resulted in large part from new East Asian wealth are especially devastating for young and middle-aged Metro Vancouverites, Ley said in a recent talk sponsored by City in Focus.

A study by SFU researcher Andy Yan found that Metro’s university-educated adults earn the lowest wages on average in Canada’s 10 largest cities, Ley said. Many are “disillusioned” and leaving the city.

Read the full article over at the Vancouver Sun.

Friday Free-for-all! March 18th 2016

It’s the end of another week and that means it’s Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

Ignorance not bliss?
Conrad Black, renter
Not a good renter
500 imaginary sq. feet
Fed keeps rate steady
How FTBs are doing it

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Update on David Eby emergency housing meeting

Did you go to the emergency town hall meeting on housing in Vancouver last night? David Eby hosted with seating for 650, with the CBC reporting attendance of over 700.

“These are serious issues, this is a major crisis, and we want the provincial government to take it seriously,” said NDP MLA David Eby,  who organized it.

The event started with Eby citing a long list of media stories highlighting questionable real estate practices and how housing practices have caused residents to leave the region.

Eby said the region’s real estate is governed by “runaway speculation” that is “unpoliced, unregulated and rampant.”

The CBC article has a live blog from the event if you missed it and are curious. Will events like this have any effect on Vancouver house prices or will non-owners eventually move away leaving the city as a home owners paradise?