Quote:
Originally Posted by peter12
I full on snorted at my desk. Not surprised.
It isn't as bad for people in the middle and upper end of the income spectrum. Young people too can make Victoria or Vancouver work for them quite easily. For me, $1475 to live 200m away from an ocean is a dream that I never considered possible in land-locked Alberta.
The real concern is obviously the working poor, which have all but disappeared from anywhere west of Burnaby.
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It's not necessarily the month-to-month costs. Hell, I'm paying $600/month to live basically 4 blocks from the heart of downtown (although that's generally unheard of), but it's hard for people to save up the money for a down payment when they're paying the exorbitant rental costs. My girlfriend's ####ty condo in one of the worst areas of the city has somehow managed to appreciate $80k since she bought it three years ago. She managed to save for the down payment because she was able to live at home for most of her 20s and had no student debt. She wouldn't have a hope in hell of getting into the market nowadays even with those advantages.