There seems to be a growing sentiment that Vancouver is just not worth living in anymore.
I wrote here last week about the exodus of head offices from Vancouver. In metropolitan Vancouver, head-office employment also declined by 29 per cent 1999-2005. There have been a great number of condo conversions, and those office buildings are gone. The City has put a moratorium on conversions, but is it too little, too late?
condos have recently soared in both prominence and price as eager buyers line up for what are often tiny dwellings bearing enormous pricetags.
...(Mayor Sam)Sullivan said. "But eventually you realize, 'My God, we have very little industrial land left'."link
It's not just head offices that are leaving (or thinking of leaving) Vancouver either. Foo (too) recently left Vancouver for Halifax, citing his #2 Reason to leave Vancouver as the ridiculous RE scene here. His #1 reason was to accept a good job offer - something that pays above the training wage (hard to find here?).
Sentiments are changing. Check out this link at the Discover Vancouver Forum. This blog is not the only place to see ridiculousness. A sample post -
450 square foot character condo in boutique building, only moments from amenities, including community centre. Parking can be rented from some guy on the corner in a fedora. Kitchen recently remodelled to include a sink, fridge, and a stove! Laundry just up the street by Mr. Kwan. Included in strata fees is doorman. Get in on the market while you still can! Reduced to only $315,000.
A couple of sample comments from my post of yesterday;
My wife and I bring in about $150k per year. We refuse to live in a Vancouver Special in East Van with people shooting up out front. If we move back east we can both get jobs that pay the same or more while actually being able to afford a home. We are going to give it until the spring and then start to look elsewhere. We know three other mid 30's couples with young children in the same situation. If housing continues to move up I suspect you will start to see an exodus of the people that should be driving the economy (not to mention a doctor shortage).
12/12/2006 8:29 AM
Ditto here, Michael. I am 35 my partner is 33, and we have two kids aged 9 and 7. My partner is doing graduate work, and I alone make 130k/year. We have no intention of staying once she has completed. It is just not sensible. And amongst our friends, the majority feel the same way.
12/12/2006 8:47 AM
Interesting to see the comments about leaving vancouver. I'm in a similar situation and unless something major changes will probably be out of this city within the year.
Granted that this is a tiny representation of Vancouverites, but I did not see anything like this a year ago. VHB was pretty much the only contrarian blog on Van. RE. It's all over the place now.
When we zoom out to take a look at the big picture, something is happening. I don't know how gleeful we should be as we watch the best place on Earth implode around us.
The fire sales will commence in the spring. Gird your loins.