Warhippy Posted March 7, 2021 Share Posted March 7, 2021 29 minutes ago, Tortorella's Rant said: Younger people are definitely &^@#ed. The house my mum bought in 2000 was 150k. Now it's valued at 600k. When did salaries jump 400% in that time. The real eye opener for everyone is that prices outside of main cities in New Brunswick have jumped almost 30% in the last quarter or two This is not relegated to just the three major markets in Canada anymore Link to comment Share on other sites More sharing options...
KoreanHockeyFan Posted March 7, 2021 Share Posted March 7, 2021 31 minutes ago, Tortorella's Rant said: Younger people are definitely &^@#ed. The house my mum bought in 2000 was 150k. Now it's valued at 600k. When did salaries jump 400% in that time. 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. Link to comment Share on other sites More sharing options...
Ajax- Posted March 7, 2021 Share Posted March 7, 2021 15 hours ago, GetFocht said: I mean, how is anyone supposed to buy anything? I can't find a house, the car I want isn't in stock. We're all supposed to be quarantined and unemployed. https://www.point2homes.com/CA/Home-For-Sale/BC/Vancouver-Island/Strathcona-District/379-Maquinna-Rd-N/100985079.html Link to comment Share on other sites More sharing options...
JM_ Posted March 7, 2021 Share Posted March 7, 2021 (edited) 36 minutes ago, Tortorella's Rant said: Younger people are definitely &^@#ed. The house my mum bought in 2000 was 150k. Now it's valued at 600k. When did salaries jump 400% in that time. I see this a lot. Many of us needed to pick up and move to begin their careers and first purchases. You're not &^@#ed if you're willing to do that, you do have a choice. Edited March 7, 2021 by Jimmy McGill 1 Link to comment Share on other sites More sharing options...
Violator Posted March 7, 2021 Share Posted March 7, 2021 36 minutes ago, KoreanHockeyFan said: 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. Except urban planners are a joke more utopia planning and less actual planning. 1 2 Link to comment Share on other sites More sharing options...
KoreanHockeyFan Posted March 7, 2021 Share Posted March 7, 2021 15 minutes ago, Jimmy McGill said: I see this a lot. Many of us needed to pick up and move to begin their careers and first purchases. You're not &^@#ed if you're willing to do that, you do have a choice. It all depends on what you value. Owning property isn't a huge life priority of mine for now, but that's just me. 5 minutes ago, Violator said: Except urban planners are a joke more utopia planning and less actual planning. 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. Link to comment Share on other sites More sharing options...
Chris12345 Posted March 7, 2021 Share Posted March 7, 2021 (edited) 2 hours ago, Jimmy McGill said: well, its true I don't enjoy yard work we had a 50x122 lot and I disliked most of the maintenance I needed to do, I'd rather be skiing or hiking. If I loved yard work I'd move to Saskatchewan and get an acreage for 1/5th of what a house costs here in BC. I'm just asking because sometimes people don't really question what they want, its worth really considering what you want to do. If you don't enjoy home maintenance why cripple yourself with debt? get a townhouse with a roof deck and bbq instead. Real question for you: Where do you put stuff like skis, hockey bag, quad, boat, snow mobile, camper, winter tires etc? I mean when you think about it you are probably better off just renting that crap anyways? But still fun to own. Edited March 7, 2021 by Chris12345 Link to comment Share on other sites More sharing options...
#Canucks Posted March 7, 2021 Share Posted March 7, 2021 4 hours ago, Ghostsof1915 said: Catch 22. You can't get rid of the farms because you need to feed people. But you need land to put those people in without clear cutting and destroying the environment. If only they would use the existing trail rail system for people to commute from the valley to Vancouver, while planning to open a few pieces of farm land along the rail, to the right type of development. . We could be good for another 100 years. I wish our government was making decisions 25 years ahead. We would be avoiding most of the issues today. Link to comment Share on other sites More sharing options...
KoreanHockeyFan Posted March 7, 2021 Share Posted March 7, 2021 57 minutes ago, #Canucks said: If only they would use the existing trail rail system for people to commute from the valley to Vancouver, while planning to open a few pieces of farm land along the rail, to the right type of development. . We could be good for another 100 years. I wish our government was making decisions 25 years ahead. We would be avoiding most of the issues today. 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 1 Link to comment Share on other sites More sharing options...
Patrik Laine Posted March 7, 2021 Share Posted March 7, 2021 4 hours ago, GetFocht said: How? Can we just move there and start working? Sure get down there stand in front of a home depot and wait for someone to hire you. 1 Link to comment Share on other sites More sharing options...
falcon45ca Posted March 7, 2021 Share Posted March 7, 2021 17 hours ago, GetFocht said: I mean, how is anyone supposed to buy anything? I can't find a house, the car I want isn't in stock. We're all supposed to be quarantined and unemployed. What car were you looking for? Link to comment Share on other sites More sharing options...
JM_ Posted March 7, 2021 Share Posted March 7, 2021 2 hours ago, KoreanHockeyFan said: 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. I just wonder how many people would be better off not owning a house. I've seen it break up more than one marriage e.g. Link to comment Share on other sites More sharing options...
Down by the River Posted March 7, 2021 Share Posted March 7, 2021 2 hours ago, Violator said: Except urban planners are a joke more utopia planning and less actual planning. I live in Suter Brook in Port Moody and urban planners completely ruined the neighborhood. Used to have a village-y vibe. Now they've built a bunch of massive towers with no plans for storefront businesses. The consequence is going to be an extra thousand+ people living in an area that no longer has the amenities to accommodate people. Grocery stores, coffee shops, restaurants, gyms, etc. are all going to be over-crowded. 1 Link to comment Share on other sites More sharing options...
JM_ Posted March 7, 2021 Share Posted March 7, 2021 2 hours ago, Chris12345 said: Real question for you: Where do you put stuff like skis, hockey bag, quad, boat, snow mobile, camper, winter tires etc? I mean when you think about it you are probably better off just renting that crap anyways? But still fun to own. Good question - in our current condo we negotiated extra storage units for our gear. I dont do much in the way of motor sports tho. 1 Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted March 8, 2021 Share Posted March 8, 2021 2 hours ago, Jimmy McGill said: I see this a lot. Many of us needed to pick up and move to begin their careers and first purchases. You're not &^@#ed if you're willing to do that, you do have a choice. Depends on the career. Some careers are best started in urban areas and wages have not increased at the same rate as real estate. Further to that point, tuition for said career training has increased exponentially. So young people are entering their careers with more debt and a lower wage to living expense ratio. 20-30 years ago, dentists and doctors were graduating with an average of probably 15-30k in debt (inflation would probably double the value in today's dollars). Now that number is between 150-300k. Back then a bachelor's degree meant a good job, something that has clearly changed. I'm not as familiar with how things have affected trade school tuition. IIRC you are a lawyer by trade? How has it affected new law graduates? I'm not as familiar with law school tuition. I have a friend who has now been practicing corporate law for about 3-4 years in a major city and is only now thinking of being able to buy a condo. Quite a few careers are best started in rural (and cheaper) areas but that real estate price gap between rural and metropolitan makes the jump pretty hard. The median house price in Salmon Arm is $400K (quick google search so stand to be corrected) vs the following graph (average price is on the left, median is on the right). Link to comment Share on other sites More sharing options...
Jester13 Posted March 8, 2021 Share Posted March 8, 2021 4 hours ago, Tortorella's Rant said: Younger people are definitely &^@#ed. The house my mum bought in 2000 was 150k. Now it's valued at 600k. When did salaries jump 400% in that time. I hear people say this all the time, but I honestly think that sentiment is only proven true for those young people who don't want to sacrifice their wants in order to get ahead. Austerity can see young people save a lot of money year after year, until finally they have a down payment, but I see way too many of said young people who don't want to give up dinners out, alcohol, etc., and instead complain that they can't have their home now. Every generation before us has either had family help or just put in years of sacrifice, but instant gratification has been on the rise for a while now, so... Link to comment Share on other sites More sharing options...
GetFocht Posted March 8, 2021 Author Share Posted March 8, 2021 1 hour ago, falcon45ca said: What car were you looking for? 2021 Durango SRT Link to comment Share on other sites More sharing options...
Mike Vanderhoek Posted March 8, 2021 Share Posted March 8, 2021 8 hours ago, gurn said: Sell now, move to Powell River, pocket 200,000, go on lots of vacations. We are in Vancouver quite a bit so moving further wouldn't work. I completely understand the idea you're suggesting absolutely. Just not going to work for our family logistically moving forward. 1 Link to comment Share on other sites More sharing options...
Russ Posted March 8, 2021 Share Posted March 8, 2021 5 hours ago, Warhippy said: I live in Penticton and I work with a number of real estate agents and I've shot farms acreages at homes and condos all over the valley in the last 5 months and it's ridiculous what is selling how fast it's selling and for how much. Depending on where you are and the size of your land you might be surprised Fraser Valley has houses same day selling for 100k+ over asking, its pretty insane. Its pretty insane that theres closed sales, no inspections, nothing at this point. I am not looking forward to looking to buy in the spring with how these prices are bouncing around so much. Link to comment Share on other sites More sharing options...
bishopshodan Posted March 8, 2021 Share Posted March 8, 2021 56 minutes ago, Jester13 said: I hear people say this all the time, but I honestly think that sentiment is only proven true for those young people who don't want to sacrifice their wants in order to get ahead. Austerity can see young people save a lot of money year after year, until finally they have a down payment, but I see way too many of said young people who don't want to give up dinners out, alcohol, etc., and instead complain that they can't have their home now. Every generation before us has either had family help or just put in years of sacrifice, but instant gratification has been on the rise for a while now, so... Wife and I lived in a bachelor apt in our 20's, 460 sq ft for 5 years. 5 frickin years! as we saved to buy a one bedroom apt. I worked 2 jobs and we saved as much as we could. We still had to go halfers with a friend to afford one, we then bought him out a year later after saving everything we could. We never travelled and didn't spend. We drove an old 76 dodge dart ( still have it as a project car) while our friends all got fancy toys. 20+ years later we are set. Couple acres on the water and a second home that we rent out. I am only 46. Real Estate is how we made all our gains, though we are also DINK's ( double income no kids). Anyway, you are right. You want something bad enough....sacrifice. 1 2 Link to comment Share on other sites More sharing options...
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