Is Vancouver the worst city for young people in Canada?

[westwoody]

I know some young people working two jobs after years of university.

One of my friends out there finished med school about five years ago, she has a huge debt load from university and it will be years before she can scrape together a down payment on a house. Right now she's doing extra shifts to get a nest egg, as soon as her loan is paid off she's going to Phoenix.
She a friggin' SURGEON and she's living in her parents' basement. NExt time you have a heart attack she might be the one who saves you. But there's crack ho's living in $3k/month apartments and everyone thinks that's great.

 

[The Lizard King]

I recommend the following large cities in Canada as an alternative to live

Awww...don't do that, I need the young folk to be cleaning my windshield when I stop at traffic lights.

 

[festealth]

being true vancouverite in my early 20's and who's most likely gonna get some typical white-collar job after school.....i can't imagine moving to another city or even to the suburbs to the east. i think living in surrey is too foreign, lol. anyways, the only way i see people in my age group could live in this city are: having rich family for support, winning the lotto, luck out with investments, or skipping sleep altogether. i mean, i always thought that i will move out, rent a place, then buy an apartment and move up, but now.....renting is a rip-off, and apartments are as expensive as houses were a few years back

if housing prices keeps going up or stays the same, vancouver is gonna be more of an old-folks town than it is now

what i'm hoping for now: lotto, find out i'm some heir to some rich relative, or build a time-machine

 

[westwoody]

having rich family for support

My plan is to move into my millionaire brother's garden shed.

 

[sdw]

being true vancouverite in my early 20's and who's most likely gonna get some typical white-collar job after school.....i can't imagine moving to another city or even to the suburbs to the east. i think living in surrey is too foreign, lol. anyways, the only way i see people in my age group could live in this city are: having rich family for support, winning the lotto, luck out with investments, or skipping sleep altogether. i mean, i always thought that i will move out, rent a place, then buy an apartment and move up, but now.....renting is a rip-off, and apartments are as expensive as houses were a few years back

if housing prices keeps going up or stays the same, vancouver is gonna be more of an old-folks town than it is now

what i'm hoping for now: lotto, find out i'm some heir to some rich relative, or build a time-machine

I think there is going to be a correction in the market. I think the reason that the correction is being delayed are the following:

1. If you own a home and are over 55 you can have your civic taxes waived until you sell your home or die. Very many children will not be inheiriting the family home. The cities will be selling homes for the taxes owed.

2. We still are bringing in immigrants on the basis of investing. As long as there is an immigrant who is willing to bid for a home, prices will stay high.

3. Interest rates are still fairly low and if you have the income you are not required to have much of a down payment. As families break up, move, jobs disappear, etc., the banks will end up owning many homes in a manner similar to what happened in the Oil Sands 20 years ago or what happened in Thumbler Ridge.

4. There are some insane people that think the 2010 Olympics will be a gold mine and the price they paid will not be corrected.

 

[Scarlett]

I know some young people working two jobs after years of university.

Omg, I know this girl with two degrees who's a stripper...bwahaha.

Someone mentioned people have to learn to trade up...that's it. The effects of the market being high are all but negated once you're IN the market.

 

[metoo113]

once you've lived on the coast you just can't move inland. The pacific ocean is 25 min away from me!!!!

I can see the ocean out my front window, I would never live anywhere else.

 

[LittleAsianGuy]

LOL i have a friend who is a engineer and his wife is a teacher with a baby. Both of them are living in his parents basement. This guy is waitin for a adjustment in the market before buying. A slight adjustment wont do for the avrg blue collar worker. Im sure many of you enjoy your mountain view etc but is it worth working two jobs?? Or spending years longer paying off your mortgage?? Moving isnt such a bad idea of you are young and want to own. I rather move than spend a extra 10-20 years paying it off

One of my friends out there finished med school about five years ago, she has a huge debt load from university and it will be years before she can scrape together a down payment on a house. Right now she's doing extra shifts to get a nest egg, as soon as her loan is paid off she's going to Phoenix.
She a friggin' SURGEON and she's living in her parents' basement. NExt time you have a heart attack she might be the one who saves you. But there's crack ho's living in $3k/month apartments and everyone thinks that's great.

 

[87112]

I've zoned out the beauty of Seattle, if you call it that. I dont give a shit about seeing the mountains, water, hills. After more than 20 years a person becomes desensitzed ( spell). What I care most about the next place I live if I ever do is traffic, weather, home prices, crime, and a general lack of a ghetto feel that a lot of American cities are.

 

[InTheBum]

You should ask yourself...do you really want to work next to some high school drop out all day, who talks about banging the local native in the chute and lives on DairyQueen, up North?

The housing market in Vancouver won't drop more than 25% ever...and in the long-term it will slowly continue to rise. Stocks collapse, not real estate in a large city.

Note - price reduced signs is a trick Real Estate agents play...to get ppl to bid, then they say others have placed a bid...most don't realize they are getting played and partake in the bidding war!

 

[LonelyGhost]

-if i was younger...i would either go north, especially if i had a trade ticket...or go overseas...some countries still pay good wages to foreign employees, with no taxes, with living expenses either paid for or greatly subsidized...go there for a few years, then come back if i still wanted to live in vancouver...

that's a plan if you have the skills that are currently in demand ... but one of the worst things you can do as a white collar/professional is go elsewhere because you won't get the contacts that will help your career. you also end up saving up money while the real estate prices go up faster!

if there is a 'correction' it will be at the point where the construction companies have over-built, start laying off workers, the spin-offs die as well and there is another huge dive in the market.

Unfortunately, in desireable areas the prices will stay firm ... it is the marginally located garbage that will get dumped at fire sales and lots of basement dwellers can then afford their first home ... it will then be landlords complaining about empty suites and drunk construction workers stiffing them on rent!

Have to remember that this 'economy' is built on nothing but housing: anyone who thinks otherwise is deluded.