3483 replies to this topic

[Mike K.]

To think that in most of Canada's major urban centres a single family home is no longer an attainable purchase for an average worker is not meaningless, it's a dilemma facing millions of Canadians. We can bicker about this all night long, but buying a single-family home in Canada's largest cities and the country's most desirable cities is no longer a Canadian right of passage, it's a struggle for many.

[RFS]

To think that in most of Canada's major urban centres a single family home is no longer an attainable purchase for an average worker is not meaningless, it's a dilemma facing millions of Canadians. We can bicker about this all night long, but buying a single-family home in Canada's largest cities and the country's most desirable cities is no longer a Canadian right of passage, it's a struggle for many.

 

I would definitely agree with that.  It is a major problem in probably 4 of Canada's 5 largest cities.  And rather than helping, our governments at every level are actively making things worse. Combined with the fact that wages are stagnant despite very low unemployment it's like a perfect storm.  And then economists wonder why that is.  Gee, I wonder, maybe importing 350k new workers every year has an effect.

[tjv]

Context, RFS, context. You can also buy a nice affordable home in Europe, but it'll be 250km from the closest urban centre of any significance and serious employment opportunity. That house won't do you much good if you have to spend five hours commuting to work.

I would agree with you in principle, but a lot of jobs are offering telecommuting now.  I've had head hunters phone me out of the blue and tell me about great opportunities in Vancouver and my reply is that's nice, but I am not moving to Vancouver - the options are you put me up over there in a proper condo/house Monday to Friday and pay all my expenses OR I work from Victoria and fly over as necessary for meetings

 

I would agree that some professionals need to be there physically like a doctor, nurse, etc, but if you are just pushing paper, dealing with phone calls and emails you can be anywhere.  Heck I've run my company for up to 2 months sitting in the tropics

 

As for these development cost charges the reality is 99% of homeowners won't see these fees directly they will be built into the cost of the finished product, only an owner builder will see them directly and with the new rules they are becoming more rarer.  I had to pay ~$6000 to upgrade a BC Hydro transformer directly to ensure I had the capacity I needed for my house.

[spanky123]

To think that in most of Canada's major urban centres a single family home is no longer an attainable purchase for an average worker is not meaningless, it's a dilemma facing millions of Canadians. We can bicker about this all night long, but buying a single-family home in Canada's largest cities and the country's most desirable cities is no longer a Canadian right of passage, it's a struggle for many.

 

You have to remember that these surveys generally look at the downtown cores and do not consider the "burbs". There are lots of affordable homes in Toronto , Vancouver or Montreal but they are not right downtown. 

[Mattjvd]

You have to remember that these surveys generally look at the downtown cores and do not consider the "burbs". There are lots of affordable homes in Toronto , Vancouver or Montreal but they are not right downtown. 

I guess if you consider Hope a "burb" of Vancouver. Surrey, Burnaby, Coquitlam, etc all well over $1,000,000 average price for SFHs

[Jackerbie]

^ And then there's the commuting cost... lots of time and money spent just to get that "affordable" suburban home

[Awaiting Juno]

^ And then there's the commuting cost... lots of time and money spent just to get that "affordable" suburban home

 

But commute cost does not factor into "housing affordability" - they'll consider your condo fees, your income, etc. when approving for a mortgage but not the costs to get to and from work - so I'm sure there's more than a few "overextended" homeowners in the burbs who simply can't qualify for something closer even though it might be less pricey than dealing with the costs of commuting.

[Mike K.]

We're now at a point in this country where the average annual income per worker is approximately half of the wage required to afford the average single-family-dwelling.

 

In short, you need two average incomes to afford an average Canadian single-family home.

[tjv]

^I think we beat this to death somewhere, Victoria is not the norm and you can stay on the island and buy a house for under 200k.  Here is a SFH in Port Alberni for 175k

 

https://www.realtor....z6-port-alberni

[sdwright.vic]

^Oh and there are just so many good paying jobs in Port Alberni.

I am sure we can fill Port Alberni with all the people who are going to serve your coffee and food to you in restaurants.

Edited by sdwright.vic, 29 January 2019 - 07:49 PM.

[RFS]

^Oh and there are just so many good paying jobs in Port Alberni.

I am sure we can fill Port Alberni with all the people who are going to serve your coffee and food to you in restaurants.

There are tons of good jobs in Winnipeg and Regina and Saskatoon

[Mike K.]

Yeah, but there’s also a reason why more people live in Vancouver and the Fraser Valley than throughout the entirety of those two provinces and why there are more people on Vancouver Island than in Saskatchewan’s 20 largest settlements.

There wouldn’t be housing affordability issues if all things in this country were equal, but they’re not. People flood out of the Maritimes seeking employment, but their houses are cheap. Winnipeg might offer you a large home and a nice yard for $450k, but so few people want to live in Winnipeg compared to Vancouver, Toronto and Montreal that it’s a wash. Everything is relative, but overall, Canadians are finding it harder to buy homes where the majority of them were born, live, work and want to raise families.

[RFS]

Yeah, I think we are arguing at cross purposes here. Yes undoubtedly the housing market in the Toronto, Montreal, and Vancouver areas is unaffordable for the average Canadian worker.
As an aside I have co-workers in Winnipeg and they tell me there is a ton of growth happening out there right now

[Citified.ca]

Two nearly completed rental complexes along the 700-block of Treanor Road at Millstream Road in Langford have been acquired by BC Housing. The buildings are in their final stages of construction with occupancy expected in the coming weeks.

 

More affordable rentals on the Westshore: BC Housing acquires two newly built Langford apartment complexes

https://victoria.cit...ment-complexes/

[Nparker]

Evergreen Terrace redux.

[tjv]

Yeah, but there’s also a reason why more people live in Vancouver and the Fraser Valley than throughout the entirety of those two provinces and why there are more people on Vancouver Island than in Saskatchewan’s 20 largest settlements.

There wouldn’t be housing affordability issues if all things in this country were equal, but they’re not. People flood out of the Maritimes seeking employment, but their houses are cheap. Winnipeg might offer you a large home and a nice yard for $450k, but so few people want to live in Winnipeg compared to Vancouver, Toronto and Montreal that it’s a wash. Everything is relative, but overall, Canadians are finding it harder to buy homes where the majority of them were born, live, work and want to raise families.

Agreed and employers in Victoria and Vancouver know that and keep the wages low here generally speaking as a sort of sunshine tax.  I gave up working for others here because wages were kept so low overall and started my own company

 

If you want to live here great, but no one is holding a gun to your head.  Want affordable housing move somewhere else and shut up because there are people wanting your residence immediately

[spanky123]

Agreed and employers in Victoria and Vancouver know that and keep the wages low here generally speaking as a sort of sunshine tax.  I gave up working for others here because wages were kept so low overall and started my own company

 

If you want to live here great, but no one is holding a gun to your head.  Want affordable housing move somewhere else and shut up because there are people wanting your residence immediately

 

Wages are lower here because productivity and skills are generally lower than they are in larger markets. If they weren't then employers from other markets would be setting up more branch offices here. There are a few, but most close after a few years when the CDN dollar rises and reduces the cost advantage or employers are willing to pay more in other markets for higher productivity. 

[spanky123]

If we are willing to set aside the belief that affordable housing means that you should be able to live anywhere you want and pay any rent you feel is appropriate, lots of markets, including Edmonton, now have housing prices at post 2007 lows.

[RFS]

https://www.timescol...oria-1.23633686

LOVEDAY!! Get in here and explain why you hate logic and reason

[spanky123]

https://www.timescol...oria-1.23633686

LOVEDAY!! Get in here and explain why you hate logic and reason

 

Doh. How often have we commented that taking low priced inventory and giving it away to homeless people who move here from elsewhere just takes inventory out of the system and creates more people who can't afford housing?!