Millennials Flee Vancouver for More Affordable Cities
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Re: Millennials Flee Vancouver for More Affordable Cities
#2Get ready Seattleites, we're next. The housing market is already going a bit bonkers with no sign of slowing down.
Re: Millennials Flee Vancouver for More Affordable Cities
#3I really like Victoria and I hope the town does well out of this. I'm sad that I may not be able to afford to live in Vancouver anytime soon, though.
Re: Millennials Flee Vancouver for More Affordable Cities
#4While we're moving south... Portland is next. Are we all trying to catch of up with SF cost of living?
Re: Millennials Flee Vancouver for More Affordable Cities
#5"The vacancy rate of 0.8 percent is one of the lowest in the country, and the average monthly rent of C$937 for a bachelor suite is tied at highest with the cost in Toronto, according to Canada Mortgage and Housing Corp."
Montreal? Calgary? Edmonton? Halifax? St. John's?
Re: Millennials Flee Vancouver for More Affordable Cities
#6I really like Victoria and I hope the town does well out of this. I'm sad that I may not be able to afford to live in Vancouver anytime soon, though.
Toronto is not much better. Million dollar homes in the boonies like Vaughan and Stouffville. It is a disaster for young people starting out. We deferred a home purchase since we were in grad school/there was general talk of a housing bubble since 2006. At this point, we're in the top 1% in terms of income and can barely afford a home.
Oh .. and homes are getting multiple offers, buyers are getting into bidding wars regularly. We are searching for a decent place since we just had a child. It is causing a lot of misery in our life.
Re: Millennials Flee Vancouver for More Affordable Cities
#7Get ready Seattleites, we're next. The housing market is already going a bit bonkers with no sign of slowing down.
Their salaries are much higher than Vancouver, they might be ok....especially in tech.
Re: Millennials Flee Vancouver for More Affordable Cities
#8Get ready Seattleites, we're next. The housing market is already going a bit bonkers with no sign of slowing down.
Their salaries are much higher than Vancouver, they might be ok....especially in tech.
Canadian tech salaries are a pittance compared to US ones. In the Bay area, 150K to 250K are standard for people with 5 years of experience. This is not the case in any Canadian city. This neglects the lower exchange rate.
Re: Millennials Flee Vancouver for More Affordable Cities
#9I really like Victoria and I hope the town does well out of this. I'm sad that I may not be able to afford to live in Vancouver anytime soon, though.
Toronto is not much better. Million dollar homes in the boonies like Vaughan and Stouffville. It is a disaster for young people starting out. We deferred a home purchase since we were in grad school/there was general talk of a housing bubble since 2006. At this point, we're in the top 1% in terms of income and can barely afford a home. Oh .. and homes are getting multiple offers, buyers are getting into bidding wars…
As another datapoint, the govt decided to add to the misery by making it harder to get mortgages. This doesn't affect the people coming into the country with suitcases full of cash but hurts us a lot. The banks are giving us a hard time since we changed jobs in the last year (both my wife and myself improved our employment situation so a move was a good thing; banks want 2 years in the same job; WTF??).