Quote:
Originally Posted by Enoch Root
EVERY generation starts off at the bottom. Today is no different than at any time in the past.
I think one thing that IS different though, is the continued urbanization of society. Home prices, for the most part, have risen roughly steadily with inflation and with wages. But home prices in larger cities have risen more with the scarcity of space.
If you want a house in Vancouver, you're going to have to pay up for it. If you want a cheaper home, you have to live where homes are cheaper.
We have to be careful about comparing the price of a home in Vancouver with the price of a home is Abbottsford. One is a fair comparison to 30 years ago, and one isn't.
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I bought my first house in the Lower Mainland in Port Coquitlam in the late eighties, 4 bedroom old timer on 1/4 acre for 75,000.
At that time Poco was the boonies, the house was a piece of crap, basement leaked like a sieve, the wife hated me for it right up until the real estate guy came by next year and offered us double for ours to go with the half acre he had bought next door.
You can still buy a tar paper shack out in Mission for 150,000 and 70's townhome for 200,000
I bought my currant house in Vancouver for 250,000 in 2000, that was a stupid price for an ex grow op in east Van in my mind but it was the cheapest I could find that fulfilled my needs at the time. It was (and is) a terrible house that I've worked on over the years.