We’re number one when it comes to inequality and percentage of low income families!
The study was released following recent discussion in the Lower Mainland about the under-reporting of income for tax avoidance. There are areas in north-west Richmond that are sharp anomalies, with very low-income levels despite high home values.
But, Yan emphasizes, the study also highlighting pockets of low-income populations throughout Metro Vancouver and, increasingly, the suburbs, where there are higher levels of poverty compared to the rest of Canada.
Others who have looked into the census data agree that both dynamics are at play.
Read the full article here.
This comment was left by Condo Paradise in the previous thread:
This rambling is addressed to all those who contributed to the insane property values we have here.
First, I would like to disclose some relevant info.
I own my 1000 sq, ft condo(no intention to sell) which I purchased new back in 1996 for $279,000. I don’t care what it is worth today because I enjoy living here. The building is situated in a very quiet neighborhood and consists of 120 suites. We have had very little problems with the structure as we are diligent with our maintenance and repair. Our strata fees are $300 – $400 /month and have a healthy contingency fund Over the years the demographics of the building has changed dramatically. We have 25% of the suites vacant.
This is where I begin.
Continue reading Condo owner against speculation