Originally Posted by Gerbs (Post 9054564)

My place is 17 years old, so if it gets close to $1mil, idk what to say lol.

A part of me feels like there'd be civil unrest if that happens.

Originally Posted by underscore (Post 9054566)

I thought the UK had crazy house prices as well?

Originally Posted by 68style (Post 9054593)

In London and some rich people suburbs yah... everything else is super reasonable if not bargain basement but it's starting to go up there too. It's more an option for me because I have ancestral citizenship rights there.

I mean the funny thing with those places is that because the country is so small, people living there (I have relatives there) will bitch and moan about a 45 minute drive from somewhere into town like it's an expedition of untold length and difficulty and you can drive across the entire country quite easily in 4-5 hours... but that's just a normal commute for us and you can barely get to Kelowna in 4-5 hours lol.

Originally Posted by snowball (Post 9054633)

Lol, 45 minutes. Vancouver is 45 minutes from Vancouver somedays. :lawl:

Originally Posted by Gerbs (Post 9054631)

I'm curious what rent prices could look like if $1M small flats becomes the norm here.

Would there be government intervention at that point? Or would the have nots be expected to migrate to smaller cities.

Originally Posted by 68style (Post 9054565)

Depends what money is worth at the time... inflation wise... for sure they will be a million one day but maybe a combination of crazy market and inflation makes it so.

I have a pretty decent mind to sell out here and move to the UK if for no other reason than it makes all of europe accessible to explore on a whim and there's tonnes of race tracks and car events/culture to go to... and could buy a pretty big property somewhere nice and peaceful rather than sitting in a $600,000 1 bedroom place listening to my upstairs neighbours hack meat on a marble cutting board for half an hour every night and be told it's not complainable because it's considered food preparation.

Originally Posted by TOS'd (Post 9054635)

*GTA enters chat* :alone:

Originally Posted by Gerbs (Post 9054631)

I'm curious what rent prices could look like if $1M small flats becomes the norm here.

Would there be government intervention at that point? Or would the have nots be expected to migrate to smaller cities.

Originally Posted by 68style (Post 9054593)

In London and some rich people suburbs yah... everything else is super reasonable if not bargain basement but it's starting to go up there too. It's more an option for me because I have ancestral citizenship rights there.

I mean the funny thing with those places is that because the country is so small, people living there (I have relatives there) will bitch and moan about a 45 minute drive from somewhere into town like it's an expedition of untold length and difficulty and you can drive across the entire country quite easily in 4-5 hours... but that's just a normal commute for us and you can barely get to Kelowna in 4-5 hours lol.

Originally Posted by 68style (Post 9054565)

Depends what money is worth at the time... inflation wise... for sure they will be a million one day but maybe a combination of crazy market and inflation makes it so.

I have a pretty decent mind to sell out here and move to the UK if for no other reason than it makes all of europe accessible to explore on a whim and there's tonnes of race tracks and car events/culture to go to... and could buy a pretty big property somewhere nice and peaceful rather than sitting in a $600,000 1 bedroom place listening to my upstairs neighbours hack meat on a marble cutting board for half an hour every night and be told it's not complainable because it's considered food preparation.

Originally Posted by JDMDreams (Post 9054666)

Any thoughts on what's going on with rent? Rent prices have increased no where near the asset price increase.

Originally Posted by 68style (Post 9054673)

Renters don’t buy cuz they don’t have enough money (usually — sometimes it’s a personal choice) so there’s a limit to what they can afford before buying is the only thing that makes sense.

Owners would have to weigh the value of the rent vs paying empty home tax I guess.

Originally Posted by 68style (Post 9054593)

I mean the funny thing with those places is that because the country is so small, people living there (I have relatives there) will bitch and moan about a 45 minute drive from somewhere into town like it's an expedition of untold length and difficulty and you can drive across the entire country quite easily in 4-5 hours... but that's just a normal commute for us and you can barely get to Kelowna in 4-5 hours lol.

Originally Posted by Eff-1 (Post 9054655)

I've looked into it too haha. The cost of living in the UK is quite high in a lot of areas. $2.75/L for gas. Inflation is 5% this year! Avg monthly electricity and gas is $200 CAD per month. But if you are saving a ton on the housing purchase to begin with, then you're probably still a lot further ahead compared to here.

Originally Posted by carsncars (Post 9054703)

Some personal experience with this... when I was last in the UK we planned to spend a few days in Edinburgh and when we told people in London that we were driving up in 1 shot (no overnights) they kept commiserating that it was such a long drive...

Not the reaction we were expecting since we'd done Vancouver - San Francisco in straight shots several times.

Originally Posted by 68style (Post 9054593)

In London and some rich people suburbs yah... everything else is super reasonable if not bargain basement but it's starting to go up there too. It's more an option for me because I have ancestral citizenship rights there.

Originally Posted by 68style (Post 9054593)

I mean the funny thing with those places is that because the country is so small, people living there (I have relatives there) will bitch and moan about a 45 minute drive from somewhere into town like it's an expedition of untold length and difficulty and you can drive across the entire country quite easily in 4-5 hours... but that's just a normal commute for us and you can barely get to Kelowna in 4-5 hours lol.

Originally Posted by donk. (Post 9054645)

There's no different between a 1million 500sqft condo in Coquitlam in the year 2025 VS a 60k 500sqft condo in Coquitlam in the year 1960.

60k for a condo in 1960 was outrageous
1mil for a condo in 2025 will be outrageous

Everything goes up in price, I don't think it matters what the price is, what matters is how many people can't afford to buy what they want

Unaffordability has been around since the dawn of time, regardless of it being a car, house, eating a bowl of 18$ noodles, whatever

Originally Posted by JDMDreams (Post 9054666)

Any thoughts on what's going on with rent? Rent prices have increased no where near the asset price increase.

Originally Posted by Gerbs (Post 9054764)

In the 1990's houses were $300 - 400K.

My current role in accounting & finance paid about $50 - 90K in the 1990's according to google after 5+ years of experience. That was around 8x the lower end of income.

Nowadays. it's like $2,000,000 for the same house but the salary for that role pays only $90 - 150K. Which is 22x the lower end of income.

Send help lol.



I noticed that I could rent my place out at Joyce for $2,000/month + extra parking stalls for an extra $50 - 100/month. Then rent at the Arc by Parq for $2,000ish/month. I find it interesting that the price difference between the two places $550K vs $700K. Seems like nicer condos are better to rent than buy.