A couple of months ago my friends and I were out to dinner and we somehow got onto the topic of the cost of living in Vancouver which, as I am sure we all know, is not that low. We were lamenting the fact that in all likelihood it is going to be very difficult for us to stay in Vancouver as 20-somethings without the help of our parents. The reality is: the real estate is too high, the cost of living (in general) is too high– one of the most expensive cities in the world! And the reality is, we will be in situations, most likely, where we are starting our careers and probably not getting paid 6 figures a year. This being said, how are we supposed to purchase homes in good neighbourhoods when they are so expensive and when our incomes will not match up? There is a very fundamental problem here. One that needs to be addressed and one that needs more attention from us. This is our problem. This is our generation that is not going to be able to afford to live in Vancouver if something is not done.

To be perfectly honest, I will most likely not be staying in Vancouver. If my parents don’t help me with a down payment on a property, I will not be able to afford a home in Vancouver. That’s that. So what is to be done here? One huge problem in the real estate market in Vancouver is that there are no limitations on foreign property owners/investors. The reality is that many homes, lots, condos, etc. are sitting empty because the owners are somewhere else in the world and simply invested in property in Vancouver because they wanted a slice of the housing market. There needs to be more limitations put in place. That is for sure. But I think the most important place to start is for us to raise our voices and to bring attention to these issues.

My friend recently worked for Sandy Garossino, who recently ran for Vancouver City Council, on her campaign and she asked us to:

Briefly outline your experience and that of your family & friends re: staying in Vancouver and building careers here for the future?  Pete McMartin is looking at this problem and some of us are gathering stories. I’d like to focus on the impact on our best young talent–are they staying or going, and why.

Sandy has asked for our perspective on these issues. For our reasons for staying, or going. If you have any thoughts on this, I encourage you to send Sandy an email [sgarossino@gmail.com] and share your opinions. Like I said, this is our future. Apathy is killing us more than ever, and we need to stand up and demand that changes be made.

 

Sorry, the comment form is closed at this time.