Re: OT: Vancouver BC - who can afford to move THERE?

On 12/21/2024 4:10 PM, Alan wrote:

On 2024-12-21 12:51, Tom Elam wrote:

A few years back Alan Baker claimed that his tiny 500 square foot Vancouver condo was valued about the same as my 3000+ square foot 4 bedroom, 2.5 bath, 2 car garage Carmel Indiana home. He stated the difference was Vancouver is such an attractive place to live that people will pay much higher prices for housing.
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I claimed that the cause was a Vancouver housing shortage. That was, and is even more now, a valid claim. Watch this recent video:
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https://www.youtube.com/watch?v=wD5ejnj2miw
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Recent Redfin estimates for similar condos in Alan's neighborhood are valued at about $1,000/sq ft, making Alan's humble abode's value about $500,000. Assuming that's in $Canadian, about $US350,000. My home based on recent comparables is valued at about $US490,000 on Redfin, or about $US200/sq ft.
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Of course the 2 properties are quite different. A 2618 W 15th Avenue 2600 sq ft, 4 bedroom, 2.5 bath, single family house at in Alan's neighborhood shows a Redfin value of $C3,000,000 or about $US2,100,000. Fixer-uppers in different neighborhoods can be found for less.
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If Vancouver incomes were higher than Carmel that would help at least make higher home values affordable. Median Vancouver household income is about $C82,000 or $US57,400.
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https://globalnews.ca/news/10401449/vancouver-full-blown-crisis- housing- affordability-report/
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https://www.point2homes.com/CA/Demographics/BC/Vancouver- Demographics.html#:~:text=Median%20household%20income%20%2482%2C000%20,tax%20household%20income%20%2472%2C000
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For Carmel? $US130,000. Housing here is a heck of a lot more affordable than Vancouver BC.
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https://www.city-data.com/income/income-Carmel-Indiana.html
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Bottom line? No wonder 67 year old not-retired Alan Baker
still lives in the tiny, very expensive, condo he moved into in Fall 1994, 30 years ago. Very unlikely he can afford much of an upgrade.
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 Are you still whining, Liarboy?
 And I'm not 67.

A lot of Canadians are whining because they have to rent tiny condos, and rents are going up.
I'll check my numbers. Left Malvern Collegiate Institute (grade 9-12 high school) in 1980, likely at age 18 unless you failed a grade or two. Highly unlikely you ever skipped a grade. 1980-18=1962. 2024-1962=62, or so. Could be 63, depending on details. Closer?
https://schoolweb.tdsb.on.ca/malvernci/About-Us
I'll amend my remark.
"Bottom line? No wonder 62-ish year old not-retired Alan Baker
still lives in the tiny, very expensive, condo he moved into in Fall
1994, 30 years ago. Very unlikely he can afford much of an upgrade."
Actually, that is now even worse. Still working and stuck in a 500 sq ft condo that is smaller than my kitchen, family room and one bathroom. Heck, your "home" is not much larger than my garage. One thing for sure, you don't suffer from claustrophobia.
Got to go now, I need to prep for some flying today. I passed an IFR checkout yesterday too! Then in a few days we leave for 2 weeks at sea and a few interesting port stops. When are you driving a race car again, or going to a warm spot on a winter break?