Vancouver ranked North America’s priciest city

[lenny]

http://ca.finance.yahoo.com/blogs/i...ed-north-america-priciest-city-155659088.html

Vancouver reigns as the most expensive city in North America to live in, even more so than swanky locales such as New York and Los Angeles, according to annual rankings by The Economist.

The Economist Intelligent Unit's (EIU) worldwide cost of living index 2013 released this week ranked Vancouver 21st globally, climbing 15 spots from its last ranking.

In the U.S., New York and Los Angeles tied for being most expensive. Globally, the two cities ranked 27th.

Internationally, Tokyo was ranked the most expensive. The buzzing metropolis has held that position for most of the last two decades.

Asian cities make up 11 of the world’s 20 most expensive, compared with eight from Europe. As well, Australian cities have been rising quickly up the rankings.

The report ranks cities based on the cost of 160 goods and services, from food, toiletries and clothing to domestic help, transport and utility bills.

To put that in context, the average price for a loaf of bread in Tokyo is US$9.06, compared to 86 cents in Mumbai, India, which was ranked along with Karachi, Pakistan as the least expensive cities in the world.

 

[InTheBum]

Vancouver sucks ass...plain and simple...

 

[Big Dog Striker]

Eventually owning land in Beautiful Vancouver will be like owning land in Tokyo.

 

[storm rider]

Vancouver sucks ass...plain and simple...

If I could give you rep I would :clap2:

SR

 

[bcneil]

Yes, sadly I am afraid I will have to leave this fair city in order to stay afloat in the future, and I've been working my ass off for 10+ years to make ends.

That can be a good thing in some ways. I expect one day to sell my yaletown shoebox, retire someplace with a much cheaper place (but bigger and nicer).
Its like a forced rrsp. Its nice to know, that upon retirement, I will be able to afford at least a nice condo, almost anywhere in North America.

 

[CorriGuy]

I feel pretty fortunate I bought into the market when I thought the condo prices were stupidnuts... in 2003. I picked up a 1000sq.ft. 2 bedroom on the west side for what I thought was a crazystupidnuts $295K. Sold it 2 years ago for $600K. Won't give info about my current place other than to say I didn't spend $600K on it, but it's worth more than that now.

 

[joho]

Sell your house in Vancouver and buy a nice house with a pool in Las Vegas or Phoenix for less than $200K when you retire!

 

[lenny]

True, but their "context" is lacking. They would need to add average incomes to put it into perspective. When I was in Japan, with my Japanese salary, I actually found food to be cheaper (less of my income) then here in Canada, but rent was stupidly high.

Some years I made more than double what I make here. So for me, Vancouver is more expensive than Tokyo was, at least for necessities. In Tokyo, you can pay up to $15 for a pint of local beer at a pub, but less than $2 for a 500ml can from 7-11. So if you don’t go out and live the life every day, you can save way more money over their. Too bad I liked drinking in the pubs.

It sounds like you'ld be better off if your Japanese employer let you live in Vancouver. Better yet, BKK.

Bread in Tokyo............over $9
Bread in Vancouver....under $5
Bread in Bangkok......about $1-2

1 Baccardi breezer in BKK @ 7-11 or Supermarket...about 53 baht, about $1.78
4 pack in Vancouver at liquor store........$10-13

Hong Kong, small 1 room w bed, shower, well located, furnished, $2000 a month

Vancouver, my 1 bdrm, separate bathroom, bdrm, w kitchen & dining areas, lrg living room, at least 4-5X the size of above HKG pad, well located, quiet, $1000/mo + hydro & cable TV

BKK, my hotel, 1 room w bed, separate bathroom, furnished, 20% discount for longstay, 2X the size of the above HKG room, quiet, $1200/mo

BKK, serviced apt, similar to my hotel above, 10-15 K baht/mo, or $330-500.

How do HKG SP's survive if they have to pay so much more for rent while getting paid much less than Vancouver SP's?

 

[CorriGuy]

Bread in Tokyo............over $9
Bread in Vancouver....under $5
Bread in Bangkok......about $1-2

Are you sure you have bought bread in Vancouver recently? Most of the quality breads at places like Rising Breads or Terra Breads or Artisan Breads are in the $6-8 range now.

Those prices are in line for anything these days outside of supermarket chemical breads and budget national brands.

 

[lenny]

Are you sure you have bought bread in Vancouver recently? Most of the quality breads at places like Rising Breads or Terra Breads or Artisan Breads are in the $6-8 range now.

Those prices are in line for anything these days outside of supermarket chemical breads and budget national brands.

The price, as per the OP article, is for the "average" cost for a loaf of bread. So not just "quality breads" are in consideration:

"To put that in context, the average price for a loaf of bread in Tokyo is US$9.06, compared to 86 cents in Mumbai, India, which was ranked along with Karachi, Pakistan as the least expensive cities in the world."

 

[InTheBum]

Sell your house in Vancouver and buy a nice house with a pool in Las Vegas or Phoenix for less than $200K when you retire!

Or if you want to stay in Canada move to New Brunswick...
http://www.luxuryhomes.com/lh/listing/Canada/New_Brunswick/Greater_Moncton_Area/88_Foxwood_Drive

 

[InTheBum]

I missed the wave in the housing market. I'm a renter for now. I can't bring myself to take on a mortgage with these ridiculous prices.

Do you even have the income required to buy a house in Vancouver???? Either you are earning a ton of dough or have saved up a huge down payment...

I would never purchase a house in Vancouver, even if I won 10 million. I am not making some asshole rich for doing nothing but owning....

 

[yazoo]

I would never purchase a house in Vancouver, even if I won 10 million. I am not making some asshole rich for doing nothing but owning....

But when you rent you are making some asshole rich. They borrowed money from the bank, bought a property and are having you pay the debt for them. They can retire on what is basically free money.

If you can curb your spending, earning and saving in an expensive city where the income levels are higher is key. Then semi-retire to a cheaper place - with the money making contacts still in place.

But if you are not building capital here, maybe it is time to relocate. You're trying to climb a greased pole

 

[CorriGuy]

Climbing greased poles is what we do around here.

Badum bump!

 

[Caramel]

Vancouver sucks ass...plain and simple...

I totally agree! I always wonder why people who don't have to live here still do. I was born here and I'm still young, so I'm still stuck here, might be forever unless some rich man comes to rescue me lol...Its fucking cold and wet, freezing most of the time, too expensive, not enough variety in products/restaurants/services, the people here are horrible - I have no social life whatsoever, everyone is a backstabber and shit talker. But sadly its my home and I get homesick whenever I leave, its all my parent's fault. :doh:

 

[InTheBum]

But when you rent you are making some asshole rich. They borrowed money from the bank, bought a property and are having you pay the debt for them. They can retire on what is basically free money.

If you can curb your spending, earning and saving in an expensive city where the income levels are higher is key. Then semi-retire to a cheaper place - with the money making contacts still in place.

But if you are not building capital here, maybe it is time to relocate. You're trying to climb a greased pole

I would actually argue, income levels are not very high here...they are higher in many parts of the country. On the flip side, if you work at a Tim Hortons here, your $11 per hour go no where...however, in Halifax you can actually live on $11 an hr.