What a great weekend for Vancouver. Jazz Festival, FIFA, dragonboat races, the fringe activity at Emery Barnes Park. The best place on earth?
That said, high RE prices isn't necessarily an endorsement of Vancouver. Our RE prices is a reflection of our transport dysfunction. There are consequences.
“Angus Reid Institute poll reveals extent of misery around high housing costs and transportation gridlock
... While 55 percent of respondents stated they were "happy" or "comfortable" based on their housing and transportation situations, another 27 percent described themselves as "uncomfortable" and another 18 percent were "miserable".
Among the miserable, 52 percent are tenants and 42 percent are university educated. Forty-five percent commute to work or school for 45 minutes or longer to work or school.
The happy, which comprised 21 percent of respondents, were largely homeowners (87 percent) and of those, 83 percent had no mortgage. Nearly two-thirds don't commute.
Only nine percent of those describing themselves as happy are seriously thinking of leaving town because of the cost of owning a home. That compared with 54 percent of the uncomfortable and 85 percent of the miserable. Fifty-seven percent of tenants are thinking of moving out of the region for this reason.”
http://www.straight.com/news/474541/ang ... -costs-and
While city hall tries its best...
“... The mayor also spoke broadly about leveraging city-owned land to bring down the costs of housing and increasing density by zoning for more townhouses and three-bedroom condos so families could stay in Vancouver.
He also spoke about a speculation tax, that is, targeting people who buy properties and then flip them for profit — an idea B.C. Premier Christy Clark has already thrown cold water on.”
http://www.cbc.ca/news/canada/british-c ... -1.3117998