Wow, it's only been a day and already 4 pages of posts!
Thank you for the warm welcome. I've actually been reading this forum since 2007 but recently made a new account. My old login got inactivated or something after 10 years of not logging in to write a post.
To answer your question: Yes, I do own property. My condo completed in early 2016. As much as I want Vancouver houses to be affordable again so I can buy, I've accepted that it will probably NOT happen. My condo isn't big enough to raise kids, doesn't have a backyard, and isn't located downtown, but I did the best I could. I'm glad I didn't sit around back then and whine about not having a million dollars and just bought something. If I had to buy my condo at today's price, it would be a financial strain.
I think people in Vancouver should be more realistic. I know people who are struggling to find a place to rent (..they have issues, such as disability, no job, etc.) yet they expect to somehow land a one-bedroom unit downtown or in kits for $1000. The mere mentioning of Surrey or Abbotsford
will cause them to glare at me like I just insulted their mother. How dare I imply that they should live in the Fraser Valley! That's where poor people, sick people, and druggies live....definitely not for them!
I was a bull, then turned bear after mid 2015, then back to being a bull after prices started picking up again early this year. I think it will continue to go up.
This government strategy on creating more affordable housing sound great on paper, but I am pretty certain that the demand will not be met. The government will pat themselves on the back when they run a couple of success stories in the Vancouver Sun about how Jane the barista and Sue who works at Whole Foods managed to buy a place as a result of this government program. The wait list will be many years long while all the other condo units not part of the program continue to go up in price.