Monthly Archives: October 2013

Professor Gateman coined the term “Homeless in Vancouver” in one of his eccentric examples and it got me thinking: “What’s going on with Vancouver’s housing market?”

Vancouver retains the title of second least affordable city in an international ranking from Demographia.  Compared to Vancouver’s median total income, housing prices has become exorbitantly high. The average cost of a single-family detached home has jumped to $1 million.

Housing prices are undoubtedly getting more expensive in Vancouver. However, the housing market bubble hasn’t popped yet because there are people who are willing to pay the price. It is only natural for the market to be driven by supply and demand. Vancouver is well known for its living standards and people will pay to live here if the utility gained is worth it. Foreign ownership may also play a part in inflating housing prices.

In time, however, residents who cannot afford to live in Vancouver must move away. We are already seeing this relocation. This will be a problem as the younger generation exit the community, bring their talent and innovation with them. Perhaps in ten or twenty years, Vancouver will be a shadow of its diversified and vibrant community.

The Globe and Mail: Vancouver Remains Second Least Affordable Market as Measure Improves Slightly

The Globe and Mail: Vancouver Housing and Income Don’t Add Up

Buy a Lotto 6/49 ticket, knock on wood, and you have one in approximately 14 million chance of becoming a millionaire. It’s quite intuitive.

Recently, the familiar Lotto 6/49 saw some changes to the game. Ticket prices are raised to $3 per line and the minimum jackpot increased from $3 million to $5 million. There are also additional “Free Play” prizes and the “Guaranteed Price Draw.” Despite these changes, the consumers will not likely see any significant boost to the return of their investment.

It’s interesting to note the consumers’ reaction to this raise in price. Most expressed their outrage and renounced buying tickets altogether. Some decried government for being too greedy and for exploiting those who can least afford the tickets.

The game is designed with the odds against the player. Since poor people are more likely to buy lottery tickets, are they taken advantage of? Buying lottery tickets is a statistically a lost cause. The player is aware of the odds, but chooses to participate anyway. i don’t think it is much different than spending your paycheck drinking at the bar instead. In a way, the money is better spent on the hands of government officials, who will provide services back to the community.

CTV News: Lotto 6/49 The Cost of Winning Big Is Going Up