NeighbourhoodVille
How do I know our East Vancouver neighbourhood is changing?
Because the number of European SUV's parked on the street is skyrocketing.
Why is this happening?
A new follow on the Twittmachine, Hamish B., explains:
Imagine that!
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Why are all those fancy big boxy cars out on the street every night?....Because there is no longer any room in backyards for garages...Heckfire, one laneway house two doors up our street is actually bigger than our entire bungalow...
The real point...How can any average young family even think about buying here?
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2 comments:
Kill all the lawyers! Perhaps we now need to include mortgage brokers, central bankers and real estate agents. (Just a quote from Shakespeare, really.)
eliminating them all or sending them all to a deserted island won't help. this is what we did to ourselves. its called greed.
When housing prices started to rise in Greater Vancouver, which for me means, Vancouver, Bby, Richmond, North Vancouver, people thought it was great. their home equity rose, they pulled some of the money out, just see Bill Good doing the ads all day and night long, yikes. then people started selling to foreign investors and boy where they happy to sell and move to Vancouver island, Kelowna, etc. They had money to spare. However, along the way houses rose in price from 400 and 500K on the east side to where they are today. Its also 20 years later and those toddlers are adults and they can't afford to purchase where they grew up.
those who work as teachers, police officers, medical staff, first responders, none can afford to live in these areas. People don't care, because they're all so happy to be making money. No one complained and those who did were ignored. There were people who yelled fire but no one believed them. no one wanted to listen. The provicical government of the day wasn't much help, but people kept voting them into office. we have no one to blame but ourselves.
The housing market became a place to launder money. again people tried to sound the warning, but the government and voters of the day didn't want to listen. It is estimated prices in Vancouver were impacted by as much as 20%.
Local politicians didn't have to declare where they got their funding from. How much do you think that impacted housing prices.
I recall a blog, might have even been this one, about a year or so again, sited a piece of land out between Commercial and Victoria Dr. being listed for $10M over asking. question was, why. Because people paid for it. looking at the condo market, it became more like a gambling market, a place to make fast cash. what did the voters do? re elect governments who liked it that way. the governments in my opinion had friends and financial supporters to keep happy and the government itself was addicted to the money they were making off of the taxes.
prices are slowly coming down because of changes the NDP are making, but you can bet there are lots who are very unhappy about it.
About the only way little e and littler e will be able to afford to live in the city of Vancouver is if the parental units front them each a $100K or re develop the house into 3 distinct housing units. yes, and its why everyone is parking on the street, there is no room in the yard, even for the toddlers to play.
Housing ought to be where people live, where they have lives, raise their kids, end their days in their neighbourhoods, but housing in B.C. became a sort of stock market where now only the wealthy can play.
The half acre my Mom bought for $750 back in the mid 1950s in Richmond, well about 3 or 4 years ago, the last of the houses on the street came down and they say the half acre sold for $5 Million. Richmond was once where working people went to live and raise their families. Not so much today.
Everybody made money off of the game. but eventually the real price has to be paid and we're paying it now.
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