I was working in a home being listed for $22 million dollars the other week. Realtor said "just waiting for the right student to come along to buy it", which I thought was funny.
There was a unit for sale in my building, 1.5 blocks away from
Hastings and Main. I see people shooting up and smoking crack on a nearly daily basis. Couple days ago, someone in the alley was stabbed in the leg. Another resident said "oh I already called 911, don't worry about it". As if she got that one and I'll get the next one. I saw a dead body in the alley. Or rather, a body covered with a sheet, circled by police tape.
So, this unit for sale in my building... it was listed at $1000/square foot. Nearly half a million dollars and it doesn't even come with a bedroom. It's no longer listed, so I assume it sold... probably over asking. My buddy in real estate figures the units in the building across the street have gone up 300% since the presale ~three years ago. Why?
I am certainly not a NIMBY. I don't own a house. I don't oppose density or condos. I am a "young" "creative" who can't afford to buy a 500 square foot bachelor pad in the downtown east side. Not Kits, not Kerrisdale, not Olympic Village - the DTES.
Hong Kong is one of the most expensive cities in the world, a colonial city largely built upon real estate speculation. 3/4 of its population lives in subsidized housing. There needs to be some benefit to the city, province, country if this is going to continue.
Another anecdote to add to the pile - my friends are moving. My friend in tech is moving. I meet people on a daily basis for my job who are selling their homes for more than they would ever dream of and at least half are moving to a) Victoria or b) the interior.
Rennie is a great man, but very clearly has a rather massive bias in this matter and his opinion should be taken with a metric butt-tonne of salt.
It's totally and utterly whack out there. Quite disheartening for someone who loves the city and who will eventually be shunted aside.