KoreanHockeyFan

Love/hate relationship with Miller this season, my god.

Hope that goal tells Newell Brown to stop putting Boeser in front of the god damn net on the PP.

Fire Demko?

Jeez, Miller just got cranked there.

Why is Sportsnet replaying last year's Vegas series.

Completely agree, but govt. needs to make sure developers don't just build a bunch of luxury condos with ten 500 sqft. studio units on every single floor. There needs to be affordable, family-sized housing quotas and developers need to chip in for community amenities around the neighbourhood. Just like how us "young people" need to adapt to the expensive housing market, older folks are going to need to adapt to Vancouver's ever-increasing population and density, so don't start up some local community petition when a developer shows up trying to build a mid-rise apartment in front of the spacious backyard you've had for the past 30 years because you don't want poor people coming into your neighbourhood decreasing property values.

I've been clamoring for these types of govt. policies. Ramp up capital gains on non-primary residences and use that tax revenue to increase funding for affordable housing projects. Re-zone to encourage higher density development, but make sure to enact inclusionary zoning rules so those developments have affordable housing quotas. Honestly, lower density, semi-detached housing shouldn't even be a thing in dense, urban areas. Especially in Vancouver. The foreign buyer ban will be tough and would involve so much political tact, I'm not even sure any government would want to touch that sensitive area.

I find this personal agency argument to be a little weak, because if you agree with this theory, you have to ask yourself why millennials and Gen Zs are less personally responsible. Bad parenting? Or perhaps, our society sets up a lot of people for failure? Especially lower income groups. With the rise of the Internet and social media, I'd say from my generation (kids growing up in the 90s) to the present, kids have been bombarded with advertisements/marketing on how to look cool and what to buy. The modern economy depends on young people to spend and take on debt. Just think about how your property value's going to do when the economy tanks because people suddenly stop spending and become rational, financially savvy people (e.g. look at Japan's savings rate and their stagnant economy). For our economy to function and for people to have jobs, there needs to be a large amount of people who spend beyond their means. It's just how things have evolved into a bunch of unintended consequences resulting from a long history of govt. policy decisions. Did I mention education? Oh my god it's terrible. I spent 4 years of undergrad learning how to write 20 page papers when I should have been learning how to prepare for my current job - luckily co-op saved me, but I couldn't believe how my school's co-op program was so terribly marketed. I reluctantly got my grad degree because I need my $30,000 piece of paper to prove to employers that I'm not stupid when I actually learned basically nothing new in my grad program. Don't get me wrong, I'm free of student debt, I love my current job and it pays well for my age, but what I'm trying to point out is that the school system doesn't prepare kids on how to manage their finances, nor does it encourage kids to acquire employable skills. Yes, there are tons of people who whine too much and don't take enough personal responsibility, but the arguments those same people make against how our decision-makers at the top don't provide enough support is one major reason why personal responsibility is lacking - it's an endless cycle. Suffice it to say, make your personal responsibility argument, but I think it's too convenient to just point the finger at the individual when there's a huge backdrop of societal problems which cause that lack of personal responsibility you're referring to.

I didn't even know Drouin was playing until he came out for the shootout.

Just remember that the modern economy depends on over-spending and rampant consumerism on non-essential goods.

Good thing you live in Canada. You'd be hard pressed to find such space in other parts of the world.

Trying to find another good entry for a short, but the bullishness of this market since COVID has me worried that this is just a temporary blip and we'll be back in la-la land with tech soon enough.

What happens when your well-paying job is in Vancouver and everyone has to return to the office? I think the point we're trying to make here is that the choices we're forced to make are much more sub-optimal than of previous generations - all else being equal. Higher marginal cost for lower marginal benefit.

Isn't this because people are rotating out of tech and back into value companies?

Whole-heartedly agree with this. People nowadays are making sacrifices just to get into a modern condo with a great location, but still incredibly small. Developers are highly incentivized to make a bunch of smaller condo units which have 1 bedroom and maybe a den that doesn't even have a damn door. The lack of supply in family-sized condo units is atrociously low, and it shows in the current COVID era rental market. I recently found a new place in Toronto to rent with a roommate and while rent prices for 1 bedroom condo units have plummeted, 2 bedroom units have barely moved - maybe a couple hundred dollars per month at the most. That nice house in the suburbs isn't even in the cards until retirement.

I can't believe there wasn't a course on financial literacy when I was in high school - this stuff should be mandatory to learn for kids.

I somewhat agree, but don't forget about the rich retirees who yell "not in my damn backyard" everytime a developer asks the City to amend the neighbourhood's zoning by-laws to build a new apartment building with affordable housing. A lot of people want more affordable housing in Vancouver, but a lot of those same people are selfish and don't want their property values to decrease because of all of the allegedly troublesome poor people that would live around them.

Haha, fair enough. I guess it also depends on your upbringing as well. My parents didn't immigrate here with a lot of money, so saving money and time on daily commutes by living in a cheap apartment within the city was a must. I've never really gotten acclimated with the detached housing lifestyle. The 20% down payment rule applies in the case you don't want to fork over the cash for mortgage insurance. But are banks even willing to give you a mortgage with a 5% down payment - I feel like you'd probably have to go to an alternative lender for that, which would likely come with outrageous interest rates. The obsession with property investments is a growing problem though. One of the unintended consequences of that mortgage stress test was that it pushed a lot of borrowers to unregulated private lenders, especially in Ontario.

I share the same sentiments with the millennials on this thread pointing out how the financial landscape we're starting out in is much more difficult than previous generations, but I do agree with your point about how some of us seem to foolishly expect to own a detached home right away. But then again, I have my biases - I'm of the belief that increased urbanization is just going to force a lot of us millennials to settle for a condo throughout the early half of our adulthood. Personally, I'm completely fine with living in a condo, I actually prefer it over a detached home.

I think everyone would, but unfortunately the way our system is setup pretty much forces governments to think in terms of election cycles. But I mean...we could always have our own version of the CCP and institute central planning

It all depends on what you value. Owning property isn't a huge life priority of mine for now, but that's just me. I expect to interact with the urban planning world in my new job, so I'll reserve my judgement until then, but I've heard similar sentiments quite frequently.

Yeah...finished grad school not too long ago and now starting to get my career rolling for real, but I'm not expecting to buy for a while. All of my friends who have bought a place needed their parents to chip in big time on the down payment.

Urban planners have been asking for all of that for decades. Conservative, NDP, Liberal, no one has sufficiently delivered on any of those things. If it's of any interest, Trudeau made some steps by announcing $15 billion in public transit funding last month.

Canucks 4 - Simpson Maple Laffs 2