"Impossibly unaffordable": Housing report crowns Vancouver 3rd most expensive city in the world
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- เผยแพร่เมื่อ 16 มิ.ย. 2024
- Vancouver is “impossibly unaffordable” on a global scale, according to a U.S. report.
While the news may not come as a surprise to British Columbians, new data is reaffirming Vancouver ranks among the world’s most unaffordable and outright expensive cities to live in.
Global's Cassidy Mosconi reports.
For more info, please go to globalnews.ca/news/10572326/i...
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My landlord is Chinese owing five houses in Toronto, yet he lives in China 😂😂😂
Should not be allowed
@josephsmith594 foreign investment driving up prices in Vancouver has been well documented and reported. Have you been living under a rock?
My landlord is iranian and owns 3 houses in the vancouver area. He rents out every room. He's barely in Canada
@@joept333 Terrible, people should be able to buy their own rooms.
Empty suites here in vancouver too owned by people in China, never even come to visit, suites just sit here empty for years now.
Vancouver is no longer part of Canada, but China.
The entire city was bought with laundered corruption money
😅😅
And Ontario is India
By the UN definition forcibly causing a birthrate drop is considered genocide
that was like 10-15 years ago. Alot of Chinese and Chinese-Canadians have left. China today has better quality of life and seen as more stable in some ways
Why no mention of foreign investment in real estate? I'd think that would be the number 1 thing to report on. But designated agricultural land? I had no idea it was that big of a deal
it wasn't' investment. it was laundering
Foreign investment
I need more foreign investment
They are terrified of the backlash for telling the truth.
Because its not a major factor
Are you actually blaming farming, you know what feeds us instead of the obvious problem of too much immigration with no incentive to go anywhere but Vancouver or Toronto?
It’s always been the farmers
Funny how immigrants can afford it but you can't.
@@bobwoods1302
Immigrants can’t afford it either, bob. That is why so many are leaving, and making videos explaining that they are leaving because they can’t afford it.
Alberta and Sask seem to be packed with them as well. Can’t imagine what western BC is like.
Not Orchestrated at all though.
@@bobwoods1302 packing 15 people in a 3 bedroom while avoiding taxes and scamming people is their secret
Richmond is china, surrey is india, whats next?
What’s wrong with that
Burnaby is China, India, Syria, and Somalia all mixed together. Most Europeans have been pushed out by various policies since 2015.
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
@@DW-op7lyNo, “we” didn’t “borrowed and spent”, at least me. Stop copy/pasting this spam everywhere.
@@dembipor just because you say it didnt happen does not mean it didn’t happen
I’m talking from a demographic perspective
Not from a selfish me myself and I perspective… As you must be a boomer
The average Canadian is in debt or broke
And you for sure benefit from the Government borrowing that makes it so you don’t have to pay 500 Canadian dollars for a loaf of bread
You didn’t care your whole life as a selfish boomer so stop complaining about the solutions now
The government should be ashamed of themselves! Soon the homeless will occupy that farmland in tents! Eventually Vancouver will become a place filled with tourists and homeless people.
The problem is, they aren't ashamed. The only way to fix it is to have enough people to revolt against them. The government's perspective on the homeless: they should be ashamed of themselves! The government wants hard working people to play their system. Let's all band together and fight back, but the problem is we don't have enough support.
Inflation is one of the problem.
The Canadian government keeps printing Can Dollars to fund the war in Ukriane/Israel.
What happens when rampant printing takes place ? It devalue the Canadian currency. It means it takes more Can Currency to purchase a can of coke as an example. Notice a can of coke used to be $1 several years ago and now it is $2 or so.
Then there are the influx of J.Ts international students from you know where. Why do we need 30+ year old international students. They are using it as a back door into Canada. They are economic migrants.
Also there are housing shortage. The supply doesn't meet demands. Instead of building affordable homes. These builders are building two and three garage homes. Why do we need these huge homes and who can afford them.
It is expensive as hell. Some people have two jobs and it is not good enough. All three combine cause homelessness in Canada. People who can are leaving in record numbers. Leaving as in leave the country.
@@cosmoray9750
< Instead of building affordable homes>
That municipal and provincial governments made too costly and all but completely illegal to build with bureaucracy.
One of the only kinds of homes they're legally allowed to build with a decent ROI.
The farmland is not the problem, the foreign owned properties and vacation homes are the main problem. Let’s not blame farming, take away some of that farm land and suddenly there will be complaints about the food prices being raised drastically more.
lol, the farms around Vancouver produce how much food? Most of our food comes from south. Our farms in chilliwack is hardly productive
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
@@DW-op7lyfacts. Old people are the real problem. Specifically the generation before X. Always being. NIMBYS and all that stuff..
Glad I’m leaving the country.
😢
And go to mars ?
Oh give me a break. You know the real driving factor. Stop this madness.
laundered corruption money from an single country in Asia
Immigrants
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
Foreign money was a large reason both federal & BC governments previously ignored…. I remembered around 2016, Vancouver home prices went up 30-50%! And never looked back…
Well the city of Vancouver was proud of the price increases. But I recall at that time a lot of heat being called down on what CBC called the shadow housing market. Many of these fancy homes were owned by shady foreign buyers that didn't even live in them.
Blackface and the CCP largerly to blame.
The government can still fix it but we all have to band together and demand it. We have to revolt. They can reverse the damage even though some people will get hurt by it but it's necessary.
What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly from the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
inflation more to blame
What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
"It's so expensive because we can't build out in to farmalnd!
So, having the vast majority of the city be fully restricted to
-single family housing only
-minimum plot size
-minimum lawn setback size
-maximum height
-maximum units
-and more restrictions
AREN'T messing with supply and pricing?
You’ve hit the nail on the head. When you fly over Vancouver, it’s shocking how much of the city is detached housing and little amount of apartments and high rises there are. The whole city out to Chilliwack should be automatically rezoned so if someone wants to build townhouses or apartments non single family zones areas they can immediately and without applying for permission
@@Madyoke I love detached homes though. They are the best
Bingo. Zoning issue plain and simple. Vancouver is not dense. Only two small neighborhoods are.
It's not "a struggle for a lotta people." It's an unmitigated disaster of generational proportions.
Zoning has been part of the issue but they decided to import thousands upon thousands of migrants.....lets be reaL here....the open house I went to for an apartment was full of non-canadians 30 to 1
How come they can afford a home and you cannot?
@@bobwoods1302 Subsidies.
@@eddietat95 What subsidies?
@@bobwoods1302 There are "newcomer incentives" which make it much easier for Punjabis to get jobs over Canadian citizens. Also, look into "Brampton mortgages" to see how they break the rules and get away with it.
The tall Punjab guy (international student) who was the lead spokesperson in the PEI protests owns property in Canada with his brother. He invested and co-signed, then turned around and said "Canada MADE me buy property and now won't let me stay in the country! So racist!"
@@bobwoods1302 From the government for being an immigrant. Notice how immigrants all have houses and apartments, but longtime Canadians are the ones living on the streets and surfing couches?
Imagine in 10 years from now what it’s going to be like. Hastings street will be all over Vancouver
Vancouver is not alone in the "impossibly" unaffordable.
When the building I'm living in collapses or gets condemned, I WILL be homeless.
There is nowhere to go.
To pay what I pay now for these 670 square feet, I will get an 8x8 room in another hovel.
I might as well find any way to go to prison and stay there.
At least there I'm guaranteed three meals a day.
Bit of a drain on the rest of us, though.
I'm curious when people say they will be homeless at these rates. can you elaborate? Why couldn't people like yourself move to a cheaper city or province?
But in comparison to the rest of Canada, Vancouver stands alone.
Hongcouver was always out of reach for Canadians, all you see is 16 year old Chineese kids in their Bentleys
As a 16 year old Chineese kid, I can confirm we're in our Bentleys. We also use our Rolls Royce for grocery shopping
all laundered corruption money
Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.
@@Marcus-ss4gn why anyone stays is beyond me. its a tourist town with zero sense of community. people are living in denial if they are trying to make a life there!
Get a job
And that cost spills over to Vancouver Island.
Every day, it’s the same news: housing crisis, unaffordable homes… it’s like a broken record. The federal government does nothing, and the provincial government isn’t any better. HOAs are busy ruining the lives of younger generations, blocking any meaningful change that could actually help. And so, the cycle continues.
It’s unbelievable that a "first world country" lets this go unchecked. I come from a third world country where we don't have a housing crisis. Canada should be ashamed. After ten years here, I’m counting down the days until I can leave.
This is what happens when a country ties its citizens' retirement plans to real estate. Good luck, Canada. This place is a failure
It's not actually up to government to fix problems like this.
It IS up to government to stop CAUSING problems like this. Mass immigration of the world's needy, for example. We just can't afford to make everybody a Canadian and hook them up with our benefits. We have a lot of resources, but there's a limit, and we've gone far beyond it.
@@drutter For sure immigration has a part on the problem. But if you believe is the only thing to blame you are being delusional. I bought a house 3 months ago, it was a long hunt. I've seen rows and rows of houses and townhomes that were completely sold before even being built by investors.
You gonna tell me that's immigration ? No... that is foreign money/investors playing cards with a crucial need of every country: Housing. So, yes the federal government can and should prevent that.
It just makes me laugh. Everyone had something negative to say about Alberta. It's funny how that changed
Doesn't change the truth... Alberta is still Alberta no matter how much any other place suck in Canada.
Honestly. I love it here. I just wish BC and Ontario would stop coming. We don't need your mindset.
Come out to the Maritimes, housing is less than half of the national average. Better be healthy though as healthcare is terrible.
I like how they just listed half of all major citys as unaffordable
Half ? They listed all of them.
@dembipor well there are smaller major city's in this country
To control housing prices, the Canadian 🇨🇦 government needs to stop Chinese money laundering into the country.
That's not gonna work. What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.
@@almontoya5703 What he said
It’s the agriculture land that is the problem didn’t you watch the video where did they mention china in the video
@@YUNGMASforeign investor account for a tiny percentage of home ownership. The biggest problem is we don’t use enough of our land.
We borrowed and spent living the good life/high standard of living
That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days
Debt we really started running up in the 1940s.
Sow dem gud ole dais ye pine fer?
we didn’t pay for the first time around
Which we just kicked this debt down the road for future generations to pay for
Problem is, we stopped meeting “natural” population replacement rates in 1971
And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors
As by 2032 immigration will make up 100% of our population growth
So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home
The rich ones to come support the economy and prop up the real estate
Because most of these boomers are also personally cash poor/in debt
But luckily….most of these boomers????
Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for.
Which these boomers can get lines of credit on or reverse mortgage on or
sell if they have to
Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links…
on our building/buying enough facilities to house millions of Canadian seniors in the next decade
Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy.
(I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days)
Try having 50k of someone else’s currency worth 2 million of our Canadian dollars
Or have what kids you and I did actually have…
Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread
or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach
Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in
So the people at the bottom of our society lose out…. or we all do
Don’t like packing in these immigrants/people as the solution?
Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return”
Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour
Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada
Plus since we stopped replacing ourselves.
It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill
But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this
Our being broke… azzz Canadians who couldn’t replace ourselves
I myself know at least two people who own houses in Van, rent them out and don't even live in Canada.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
My son and his family leave at the end of the month they’re moving to Alberta.
Don't vote liberal or ndp.
Please tell them to not come here and vote NDP/Liberals.
Lol its going to get $$$$$$ there too. Plus the overt racism
And they will come back during the bust cycle. It always have been like this. Alberta booms, and people move there, like back in 2011s
Alberta is full, seriously.
Just a small detail for the editorial team - that isn't a stock photo of Hong Kong but Shenzhen, the city right across the border control.
If you starve the people you could have more land for housing. Forest fires have destroyed the supply of cheap wood for housing. So it’s your choice Vancouver.
we will keep seeing this video pop in our feed because nothing changes...
It´s madness the prices for rent and is stupid soemtimes you find a place a mean a small roach room for 3500 dollars and then you also find some awful roomies bringing protitues drugs and big crows of people making night party 7/24
Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.
I left in 2019. Could not find an apartment for my wife and I that would accept us. We have savings and income, but no 9-5 job, and landlords DEMAND that you have a 9-5. It's not income or savings they care about, they want to know you're a working drone who checks all the boxes and won't be home to use utilities or cause wear and tear. We have a flawless rental record but had to leave our lives and friends behind, to move to Northern BC. This was the only rental we could find in all of the province that would accept us. Cost us more than $10k to make the move, and we still have not recovered years later. What a nightmare Trudeau's Canada is.
Interesting piece of information. I feel that the government should be able to seize property. Instead, it's us.
There was a recent news story about a man renting a condo in Toronto. He has to pay the landlords unpaid income tax on suite of I believe almost 150000 dollars to CRA. Federal government rule if landlord lives out of Canada and Manager of suite or landlord does not pay income tax then tenants have to pay.
Restrictions on sprawl are not the problem, the Canadian economy is.
Patrick Condon, Colleen Hardwick, and so many other Vancouver housing experts have it correct. Building more homes will not make homes more affordable. That time during covid when vacancy went up after all the intl students left and rents got cheaper.... was just an anomaly.
Well anyone who likes eating food, really shouldn't be blaming farmers.
what a s*** show! If this continues there will be nowhere to go...
Get a job
@@YUNGMAS Jobs are not paying enough get rid of the greed.
@@YUNGMAS
Ppl w good jobs can’t afford a home.
@@firstandforemost87 I can and my job is average. What people need to do is save. The average Canadians don’t want to save money. Did you know 40% of people making 250k or more are living paycheques to pay cheques. Why is that? Not because the city is that expensive because 50% of people making 100k are not living paycheques to paycheques. It is because they squandered all their money away and then whine when they can’t afford anything.
@@joeisawesome540
I save religiously compared to the average person, and I have a solid job. Even where I am this doesn’t go far in housing.
Look down your nose at others all you want, but you and I both know it is unreasonably hard for ppl to afford a home right now. Keep patting yourself on the back though. W/e lets you tell yourself you’re better.
I have two places, btw. I don’t need to struggle to get where ppl are coming from.
The people with money drive the market it is as simple as that. Where the money comes from is another matter. Foreign money becomes a problem, when the domicile is not properly lived in. Farmland should not be an issue, we need the farmland. Too many people wanting to live in densely populated cities and wanting to live in Canada et al is causing the strain on supply and demand. Immigration should literally be halted and a moratorium study should severely LIMIT the number of people coming into this country from any one country or region. The open immigration has caused a lot of this mess along with foreign domicile purchases. No easy solution, because nobody wants to tackle the problem without offending some culture's sensibilities. The problem will NOT go away until the issue of immigration is properly solved.
Look if I have 20 properties all with a monthly mortgage total of 195,000$ because of my down payment there is no excuse for anyone.
Unaffordable housing ratio has 2 numbers in it : HOUSING PRICE / INCOME
If the INCOME number has been low for decades because employers could pay low wages, therefore the ratio is always high. Regardless of the housing price number is lowered, the Unaffordable Ratio number is still high. The possible solution is pay HIGHER WAGES.
Higher wages means more money to spend. More money to spend means demand goes up because more people will be buying
Demand going up means prices go up. You'll just be endlessly chasing your tail.
@@gregjones1339 If that's the case New York would be the most unaffordable city in the world but it's not.
@@_________dd
But New York has way more opportunities to make money.
@@shauncameron8390 yeah which is what I'm saying. My comment is a response to Greg Jones' in case you misread.
I hope interest rate stays high for long time, until people learn to not throw their money easily , and the greedy people forget the easy money
Do you want house prices to come down? Then write your MP (on paper - postage is free) and tell them to start talking about immigration reduction again.
Just for ghits and shiggles, I would like to see those paying over 30 percent of their income to housing show up on the lawns of their local city hall for a day, or as long as it takes to get a real count of the problem. Maybe an encampment will get some shovels in the ground. Doubt it. Many in need will be dead or collecting pension by the time any significant progress occurs, if at all.
A lot of us are paying over 60% of our income to housing. Anything to keep my children off the streets. I'll skip meals to keep a roof over their heads here in Northern BC.
Not sure if they will fix this but if it goes long enough, there will be a noticeable population drain. All the negative effects of a shrinking population will start to materialize.
Welcome to the NDP and Liberal world. JT and his clowns built this city great.
Anyone anywhere in the world can buy any residential property in Vancouver or Canada anytime without any restriction, other than a small foreign buyers tax which many avoid. Golden visa are easy to obtain and good for 10 years. Our residential property in Canada is treated as a commodity which sells to the highest bidder from anywhere. There is no consideration for the actual residents and citizens of the country who want to buy property. It's all about fast money and money laundering from organized crime. We have 10s of billions of dollars being laundered through Canada each year. The governments involved, who's house values keep increasing yearly turn a blind eye and the banks continue to make record profits.
When government have immigration stream for hong kong citizens, what do they expect? Of course it will be the next hong kong
And possibly more expensive than Toronto as well.
Sorry to say but interest rates need to go up further to pop this bubble and crash the housing market!!!
You get what you vote for.. Enjoy the result of massive immigration and inflation/taxes/money printing/massive deficit
No one voted for mass immigration. None of the politicians runs on “im gonna bring in a bunch of people who you will have to compete with for jobs, services, and housing”
We aren’t a true democracy. WE don’t get a say on what happens. We vote for people who align best with our views. But trust me anyone who voted liberal didn’t want this either
I didn’t vote and some how I still have a net worth
Who do you think is making these really expensive...google dominant race im the 3 most expensive cities
Not who. It's what. Laundered corruption money from a particular country in Asia.
My search results returned the scottish, English, and Italians.
jews?
Crazy how they managed to afford it and you being born in the best country in the world can't afford it.
@@kino_cinante google sydney hongkong and vancouver
Every farms in Surrey has biggest and most luxurious mansion I have ever seen...
yes, those farm lands need to be protected even though every produce I see in grocery stores are either from California or Mexico....
Dang those blue berries and cranberries need to be protected...🙄
Why isn't Canada on BRI map? CGTN The Point-Hub-Heat, Einar Tangan-Martin Jacques-Lijinjing-Tian Wei. Reporterfy Media-Cyrus Janssen.
Dude has got it wrong! It has nothing to do with designated farmland. It has to to with the fact that there are bungalows and housing taking up space where there should be 3 story to 20 story rises. Fact is most urban centres are building up while Vancouverites are fighting to build out. Montreal (an Island) takes up 365 km squared with a population of 1.7 million while Vancouver takes up 114 km squared with only a population of 675,000. That’s 900 people per km squared as opposed to Montreals 4517 people per km squared. I find it amusing that the tree huggers want to cut down more trees and invade wildlife space rather then change their already luxurious lifestyles.
Oh come on, urban sprawl won’t save house prices lmao what the hell did I just watch
Moved to the Island 8 years ago, since we were never going to be able to afford a house in Vancouver. Housing has more than doubled here in that time. It's completely insane.
Vancouver Island is no longer affordable.
Wait for the renewals in 2025 and 2026. Unfortunately, this is very similar to the '08 crisis.
Yup.match boxes for millions
If more people move out then in... that means Lee's demand for homes so lower prices. O wait no one seems to be buying right now and prices are sky high still
I already left and making arrangements for my kids to follow. Alberta isn’t cheap..
Great. Now AB can become just like BC…
@@firstandforemost87that’ll never happen dw man. Alberta isnt trapped in a valley and alberta seems to have a pretty competent gov conpared to BC
@@SilentZyko
Until BC ppl vote for a BC gov in AB.
@@SilentZyko
Hopefully you’re right.
No more foreign buyers
Even in our small towns in BC are over-priced!
Little crap hole homes are over $500k with lots of problems.
We love BC but its hard on most people and buying a home now is impossible unless you have half a million plus renovation cost...
Trudeau and Freeland fault
Yeah, notice how it really ramped up hard in 2015?
Congratulations on the housing construction project in Canada 🇨🇦
Oh common, who dictate the price market or group of realtor agents?
Need to build large-scale condos, apartments.
Unless you plan on voting conservative. Stay out of Alberta!
Burnaby has a lot of land that is designed agricultural land... which should be designated residential... just saying things can be done... but municipal govt preventing changes.
Are you kidding that they are blaming ALR? Try infill and building smarter before sprawl. Deal with investment properties and multiple single family home ownership before pointing the finger at protected lands.
Time we witheld all taxes .
That's why I cashed out in 2020 selling way over ask and went to Alberta and bought under ask
Hows your commute to work?
@@colinsellers1143 I'm not job trapped in Vancouver, I'm retired
All the landlords in Calgary and Edmonton are the rich real estate multi house owners of Ontario and BC, selling some of their property there and buying multiple houses in Calgary and Edmonton AGAIN like crazy, and then in a couple of years it will be time to move out of Edmonton and Calgary AGAIN. The average price of a 2bhk + 2bath in Edmonton is 2000$ and who says it is affordable here ANYMORE....(MULTI HOME OWNERS + PROPERTY OWNERS + MORTGAGE BROKERS + BIG BANKS = ZERO sum game for the middle class Canadians) PERIOD....
Makes sense! Vancouver was first priced out of Canadians reach by people from Hong Kong!!!
Alberta is becoming impossible affordable as well
Thanks to people from Ontario and BC moving in.
vancouver has always been expensive
One quarter of Camadians are at the piverty line !
Over 9 million of us .
Take back Canada.
The boat load of people right at the end saying LGTFO..
hahahahaha completely unaffordable and yet people keep moving there...and trudeaus solution...increase immigration more
Canadians don't keep moving there. The immigration coming into Vancouver is from Asia, Africa, and Middle East.
Come on Vancouver, you can do it...go for #1
Canadians did this to themselves.
We left lower mainland BC for Nova Scotia in 2020. Better lifestyle on half the income.
Better lifestyle than BC in what ways?
@@drutterMortgage free on what would be a multi million dollar acreage in BC, driving nicer vehicles, can afford to have wife at home so we homeschool, raising chickens, ducks, quail, gardening, cutting firewood from the property so no heating bill...all while working very part time.
@@concernedcanadian8460 Your anecdote is meaningless, but thanks for your life story.
Hardly a life story, just a snippet to show there are options. If you find that example meaningless, you're lost or just a troll that thinks he's smarter than he is.
@@concernedcanadian8460 I'm not trolling you, so if those are the only 2 options, I guess I'm "lost". As for being mortgage free, we already established that it's cheaper. My question was why you claim that it's BETTER. We can cut firewood and raise chickens in BC as well. Not sure where your point is. There must be something else that makes it so much better?
income taxes are the problem
And the feds' loose immigration policies.
No one can even afford rent across Canada never mind food or gas … Truduh has destroyed Canada
The housing crisis happened long before Trudeau...
@@nrdify
Not at all.
Less farmland? More sprawl? Where’d you find this raver
Whi would have thought? Thanks to Trudie's open borders and mass immigration policy!
So how come Vancouver home went up by 300% from 600k to 1.8m before Trudeau was elected ?
Toronto and vancouver - 75% houses owners from china
Obviously the Chinese know something you don’t like if they own 75% of the market and your on TH-cam posting comments.
I saw one chinese own five houses in Toronto, yet he lives in China 😂😂😂
@@YUNGMAS They are wise to not allow Canadians to buy property in China, messing with their real estate market.
Just cant wait to see the "big one" hit and see how everyone will deal with it vs their $4mil homes 😂
That’s not funny.
@@YUNGMAS
Get a job
@conservativeparty look into changing A zones to R zones
We need the ccp to do better for us Canadians.
Don't come to alberta.
All ( ex British monarchy) countries.
Coincidence, i think not.
Go go Vancouver congratulations
i went to an open house for a $3.1m residential listing, 1980s single family dethatched home near cambie, all 10 groups or so who showed up to take a tour were Chinese
I taught Vancouver was "most livable" not too long ago!? Get your reporting in order, Global TV!
Livable ? Mean it is one of the most desirable city, which is why it is expensive
Justin T needs to resign. I came 20 years back and will never vote for liberals
HongCouver is the worst place to live PERIOD.
Liberalism at work... we're gonna need more skip the dishes drivers
What so you can pay them 30 bucks to drive 500 dollars of groceries 180km? Get stuffed eh.
(yes, that is a real order somebody tried to put through doordash. And they did it again, 2 days later.) I can't help but wonder if somebody actually took the first one, cus the second order paid less and was smaller. Had to get a screenshot of them both in disbelief.
@@larrymunn5279 That's how rich people keep getting richer, offering peanuts for tons of work, and some people actually accept to do it.
@@noseboop4354 Blows my mind man. Every once in awhile I'll turn down a 4 dollar 10+km trip get a winner right after it from the same place, turn up see the first 4 bucker sitting there, and some well dressed old guy with a new looking SUV will come pick it up. I guess to some people it's just a pro bono hobby or something I dunno.
Either that or an east indian with a brand new hot car, even saw one with a tesla once but he wasn't around long lol.
I thought it was 1st in the world 😅
And you failed to mention that as a result of large numbers of people.moving to Alberta, it has caused our housing prices to increase. You are lucky to find a crappy 1 bedroom for 1k now which would have been closer to 850 6months ago. And that's talking the run down not maintained buildings with lot's or drugs and partying. If you want a decent place to live in you are lookin at a bare minimum of $1500/mon for a 1bed. The amount of homelessness has significantly increased as a result. Its a horrible horrible downhill sprial that our government cares nothing about
I remember the Alberta government was running Ads in 2022 wanting people to come to Alberta. Maybe they planned this. Weird
Move to Sydney Australia
Kookaburra's and tarantulas.
Then add the beer fetish, no thanks.
Also on the list of world's most unaffordable cities.
@@drutter
#2 to be exact.
Ya, come to Berta , -4 tonight in Leduc County , Ice Cold Chicks too .
the new hong kong
Build up simple