First sentence, yes, that will happen but the people who are determined to live in their house until retirement really have nothing to lose. It's those who decides to sell that will take the hit.

Second sentence, we're talking strictly houses, not condo's and townhouses because those are easily affordable (however, if house prices tank, these will be affected as well but that's another topic). So job loss won't be that severe and new constructions might stop, but it will recover eventually.

Third sentence, not sure who you refer to as "people" because I know I won't be making less and I'm sure a lot won't.

Well of course it's doable if you budget right and work hard, but you have to understand that the house pricing didn't go up because Vancouver is such a beautiful place to live in, that everybody started immigrating here to live here.The rich got here and inflated the price and the government is greedy and wants to take a cut. So in the end, we should just suck it up, bust our asses off and devote our life only to pay off this mortgage, that for some, might even be inherited to their kids? It's sickening to even think about that.

If a household isn't making $50 - 78 per hour as I have read in the newspaper, they will struggling to bring food to the table and most likely won't even have enough for when their children are ready for college/university, all because of people who didn't truly want to live in Vancouver, that fucked those who do.

Easy fix, introduce laws similar to those of Australia and Singapore and place restrictions on what kind/how many properties non-Canadian citizens are able to buy... the problem is that any politician who even implies creating this type of legislation is automatically labelled as discriminatory, racist, or politically incorrect. We have essentially neutered our ability as a country to do anything about it because we are too worried about "offending" anybody. Last time I checked, an entire generation who is unable to afford housing without help from parents is a lot more important than offending a few self-righteous entitled pricks, but that's just me...

Im travelling across europe and it seems more and more apparent that people are just whiny bitches in vancouver
£6 beers in london...£8 mil townhouses da fuq

London is it's own animal. I found it cheaper than Vancouver in many other countries including France, Italy, Spain and Germany. My rent was high in Germany but it was offset greatly by the costs of transit, food and "beers." In the end my cost of living was lower, for what I would argue was a better life.

Lol how about 2% mortgages are to blame.

Other than Richmond, you walk around any part of the GVA you will still see far more white people than anything else... there are probably 1000+ heavily indebted white people who own a home in Van for every rich Asian expat.

It's a beautiful place to live, people are willing to spend a lot of money to live there. (I have to say "there" because I'm currently in Alberta)

I hate it when people make these type of comments.

It's like, someone who works his ass off at work to complete his 8 hours, and then someone goes, "look at him, he's doing more than he should, you should too." Fuck no, I like to get through my 8 hours doing just enough.

Just because other people in other countries live a more expensive life, doesn't mean we should suck it up and deal with ours. It's not a competition of who should live a more expensive life, nor is it to match other countries'. On top of that, you're totally neglecting the fact as to why our housing price is so high.