[tonee8519]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

[twitchyzero]

Pulp Fiction - English Motherfucker Do You Speak It - YouTube

[quasi]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

Suburbs and condo or townhome like most every other blue collar person in the lower mainland. Even if you're married and have two average incomes you still won't be able to afford a house in Vancouver. Start small, get a bigger place as you make more money and build equity if that's what you choose to do.

[Culverin]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

Age has nothing to do with it. It's all about what you earn.
And 50k is definitely not going to get you a house. It can probably score you a one bed room out in surrey.

Sorry friend, but we are being priced out of Vancouver.

[Vale46Rossi]

With 50k income...


It's called rent.

[MarkyMark]

You don't, just like you arent going to buy a new Mercedes either.
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[hirevtuner]

the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

[CRS]

the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

Yeah... I wouldn't hold my breath.

[1exotic]

that's why you don't buy a house directly in Vancouver, you buy around the surrounding cities.
same shit for every big city....

[DsZ24]

Like everyone else said, start small with a condo and townhouse and move up to a house eventually when you've built equity and you're earning more.

Or find a rich woman and marry her....either or :fullofwin:

[El Bastardo]

Do what most people your age do.

Ask your parents to buy you a house (and a new BMW to park in the driveway)

[Bonka]

Do what most people your age do.

Ask your parents to buy you a house (and a new BMW to park in the driveway)

There is merit to this.

I find that among the first timers buying a place today, many of them have their parents outlay at least a portion of the downpayment towards their purchase. The usual reason is that they want to get their kids in a home before they're priced out completely.

These are the same "kids" who are in professional careers making good money, have little current overhead (living at home) and spend their most of their discretionary income instead of saving it.

Given the housing prices here and the existing economic climate, you're way ahead of the game if you can buy on your own.

Don't bother trying to time the market for a crash.

You can definitely buy with a $50k/yr income. You just have to be realistic and have a strong backbone because the mortgage will cripple you for a while.

And yes, the new norm is getting into an apartment.


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[TRDood]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

:suspicious:

[Mr.HappySilp]

I wonder what would happen if price of apartments becomes too high for anyone in the middle to class to buy (say an average aparemtns goes up to 650k)?

[Qmx323]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

http://i56.tinypic.com/25hhjdg.jpg

[FerrariEnzo]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

dotn want to make fun of you.. but a guy in the mid 20's would rather spend the money for parties and girls... not thinking about buying a house..



but.... if you matured, start with a condo.. even townhomes cost a pretty penny.. and if u end up loosing that job paying 50K/year, a condo wouldnt hurt you as much..

[willystyle]

that's why you don't buy a house directly in Vancouver, you buy around the surrounding cities.
same shit for every big city....
Even in suburbs, it's not possible for him to afford a house at 40-50k/year. And it's not the same shit for every city, houses in most north american cities are more expensive in the suburbs than in the city.

[Chicken Balls]

the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

You do realize that these people aren't buying the homes with a mortage. They couldn't care less about the interest rate.

[asian_XL]

1) Buy a 500K tiny house in Vancouver, chop the basement into 4 smaller rooms, rent it out to Mainlander students for $500-700 a month.

2) Do the same thing to your garage. $$$$

3) spend several thousand dollar to build a green house look-a-like portable in the backyard, make it comfy inside and rent it to mainlander studnets again LOL

[E-40six]

Me and Truong are in our mid 20s and own our own home. you jelly?

We have no lives though, both of us work 7 days a week, if you're willing to do that you can own your own home too

[StylinRed]

question is why leave your parents? :D many cultures believe in staying together after all

some friends bought their first places in their 20s but circumstances arose and they couldnt afford to keep them anymore 1 even went into bankruptcy

best thing to do is just to save or/& stay with your rents until you've a secure footing

trying to juggle a house etc etc is asking to fail

[Culverin]

I wouldn't do the whole buying a house and renting out bits of it.

Something like that always incurs unexpected expenses.
Example, our garage burnt down, freak lightning strike.
We had to rebuild it first before insurance would settle with us.

Last tenants had an amateur grow op, got in trouble with the law, ran away without paying rent AND trashed the place.

Don't count on your tenants to pay up unless you've got a decent amount of savings that you can use as a wide buffer.

[punkwax]

the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

I know people who have been saying this for 7 years. lol

Buy land. It goes up in value.
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[flagella]

tough when you're single. Possible with dual income.

[Death2Theft]

Not sure I follow the logic here why would people in fixed rate mortages care that intrest rates are going up? Why would that make them want to sell?
the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

[Death2Theft]

R-E-N-T Owning is not a right unless you live in Libya.
I wonder what would happen if price of apartments becomes too high for anyone in the middle to class to buy (say an average aparemtns goes up to 650k)?

[StylinRed]

R-E-N-T Owning is not a right unless you live in Libya.

not anymore i imagine

now it'll probably be everyone fends for themselves while the govt tries to take it all away so the foreign oil companies can make their killing

[Mr.C]

tough when you're single. Possible with dual income.

Doable. I own a condo (Surrey, yes, whatever, it's mine, hater's gonna hate, etc), and it's just me. You just have to manage your finances reasonably well. Don't buy a new BMW either. Buy an old one if you must.

[rageguy]

Say you make $50k net income. A semi-decent house in East Vancouver will still run you $700000 minimum and roughly $900000 for an actual quality house. So if the down payment is 25%, you will have to somehow save $175000. Even if you manage to save that much money with $50k per year net income, you will have to pay the monthly payment. That's roughly $4000 or so per month.

What is $4000 per month? That's pretty much your entire $50000 yearly net income. What about gas? What about a car? What about bills? Food? Clothing? Leisure?

Bottom line is: live in an apartment.

[ImportPsycho]

the answer is time, just wait for the Vancouver housing bubble to appear within 5-7 yrs when the interests rate goes up, ppl are more than happy to get rid of the properties in a hurry

I think I heard this before...
oh yea, 5 years ago in 2007, everyone was saying samething
and still the prices are going up

[MindBomber]

There is no housing bubble, that's burst, just accept that we live in one of the most beautiful cities in the world and you need to pay for that privilege. If your to cheap for that, a house would be in your budget in Prince George.

[Meowjin]

who needs a house anyways? The more and more I think about it, the more and more im starting to think townhouses are fucking sweet.

[Razor Ramon HG]

Everyone has different standards.

[wouwou]

Work your ass off overseas for two years, manage your finance well and control your purchase impulse if you ask me.

I have enough to payoff a townhouse in GVRD as of today, could possible shot for a single detached but the whole living thousands of miles apart from my wife and daughter is too much.

I am 28.

[taylor192]

You don't, just like you arent going to buy a new Mercedes either.
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Sadly $50K would let you buy a $300K+ condo, and have money left over to lease a Mercedes.

[taylor192]

I think I heard this before...
oh yea, 5 years ago in 2007, everyone was saying samething
and still the prices are going up

Prices are mostly flat this year, inventory and MOI at highs, and sales near decade lows. Homes increasing in price is masking what is happening in the condo market as there is a glut of inventory. Prices have fallen virtually everywhere in BC outside of Vancouver and Richmond, just no-one talks about it.

[taylor192]

There is no housing bubble, that's burst, just accept that we live in one of the most beautiful cities in the world and you need to pay for that privilege.
That's what my friend in Australia said, until prices started to fall there recently. Prices will always be higher here than elsewhere cause its nice, yet current prices are not sustainable.

[van_driver]

That's what my friend in Australia said, until prices started to fall there recently. Prices will always be higher here than elsewhere cause its nice, yet current prices are not sustainable.

no hate but i swear you said this years ago...

[I'm sorry Dukes]

Me and Truong are in our mid 20s and own our own home. you jelly?

We have no lives though, both of us work 7 days a week, if you're willing to do that you can own your own home too

tell truong his s2k got wrecked :troll:

[taylor192]

no hate but i swear you said this years ago...
I've been saying it for 4 years, so no worries. I didn't anticipate rates being lowered to rock bottom and rules loosened, I don't think anyone could have. Yet I can say that's not sustainable, its just when will we hit the tipping point.

[SoNaRWaVe]

Not sure I follow the logic here why would people in fixed rate mortages care that intrest rates are going up? Why would that make them want to sell?

IIRC, when that mortgage comes up for renewal, their interest rate will go up to the new rate. Some may not be able to afford it, hence selling is the only option. Open mortgage may be an option for a lower rate but it can keep going up and you can get screwed that way too.

[unit]

who needs a house anyways? The more and more I think about it, the more and more im starting to think townhouses are fucking sweet.

wait till you have a townhouse and realize you still have to shut the hell up in your own home. nothing beats having people over late, making noise, NOT hearing babies crying, NOT hearing neighbors fighting, etc.... also a decent sized backyard, which you'll never have with a townhouse.

and people who say theres no housing bubble, they probably have mortgages on a home and are praying that the bubble doesnt burst. it will..
not to mention interest rates are on their way up within a few years. yeah, im cool with renting for now and saving/investing my money.

[Culverin]

A decent backyard you can grow and herb garden and have fresh veggies on hand.

A place where you can have friends over for BBQs.

Build a smoker to make real bacon.

Make your entrance look like the TARDIS.

Ugh, so much more work still do :concentrate:

[ImportPsycho]

how to buy house in vancouver (http://www.bclc.com)

[UFO]

Say you make $50k net income. A semi-decent house in East Vancouver will still run you $700000 minimum and roughly $900000 for an actual quality house. So if the down payment is 25%, you will have to somehow save $175000. Even if you manage to save that much money with $50k per year net income, you will have to pay the monthly payment. That's roughly $4000 or so per month.

What is $4000 per month? That's pretty much your entire $50000 yearly net income. What about gas? What about a car? What about bills? Food? Clothing? Leisure?

Bottom line is: live in an apartment.

Those numbers are great for illustrative purposes, and everyone should keep in mind the numbers you have up are just for that $700k house, not a more 'average' $900k house, although $900k can still you get you a pretty nice above well average house IMO. That and things like savings, retirement, future family expenses (why else would you need a house, haha), are not even considered yet. And netting $50k a year is equivalent to roughly $80k gross... let's not kid ourselves $80k/yr is not an easy salary to achieve.

The thing I think buyers must consider, in this example if you are taking out a $525k mortgage to buy this $700k house, IF the housing bubble bursts and your once $700k house drops in value to say $400k, what would you do in that situation? You would likely owe more to the bank than what your house is worth now. If your job stability is shaky, then you are really putting your family into jeopardy. If you hate your job, guess what you've just chained yourself to it for life.

As it stands right now, I think prospective buyers really need to weigh what they want vs. what they need. Sure it'd be great if I could move into a detached home right now, save myself a move 10-15 years down the road. I had to wrap my mind around the fact that owning a home =/= owning a house, and getting into a house is somewhere MAYBE years down the line, many years. In the meantime, work hard, enjoy life, and build equity.

The reality of the situation is that you either get size/land or location, you can't have both unless you have the big money available. You can still move into a comfortable house in Surrey/Langley for $500k. If you don't like Surrey, hey too bad looks like you're buying a condo/townhome in the 'nicer' parts of town.

[UFO]

Work your ass off overseas for two years, manage your finance well and control your purchase impulse if you ask me.

I have enough to payoff a townhouse in GVRD as of today, could possible shot for a single detached but the whole living thousands of miles apart from my wife and daughter is too much.

I am 28.

You sound like you are in a profession where overseas demand is huge, and you can make a lot more overseas than here. Not every profession has this potential. What will happen to your income when you come back here to work because you want to spend the time with your family?

I really respect your approach to this. For me, what is the point of getting married and starting a family, if you cannot be there to enjoy and grow with the family. I know you are working your tail off to provide the best for your family and to make things easier for them, but my take is that contributions to family run much deeper than just money. It sounds like you are feeling that too.

[Hehe]

I think it's time

Just as you point out, a regular income people can't afford to buy a place and renting makes a lot more financial sense. This will sooner or later hit the RE market. It hit back in 2008 and the BoC countered it with rock bottom interest rate. Since interest rate can't go anywhere else but up now, expect the RE to tank if a wave hits.

Just remember... In Canada, we always get hit by whatever happens south of the border, just a matter of time. If you think the US RE market decline is bad, hold on tight, the ride up here might not be pretty.

[taylor192]

wait till you have a townhouse and realize you still have to shut the hell up in your own home. nothing beats having people over late, making noise, NOT hearing babies crying, NOT hearing neighbors fighting, etc.... also a decent sized backyard, which you'll never have with a townhouse.
I owned a townhouse, and if its built well noise is not an issue. The house next door had 5 college kids renting and threw parties all the time, no problems.

Decent sized backyards are overrated. My townhouse backyard was 20x30' while singles in the area were 33x30' or 50x30'. I had a huge deck, hammock and small landscaped area. All they had extra was a little bit more lawn to mow and not enough room to throw a football. I'd rather live backing onto a park, the city mows it.

The only thing I hated about my townhouse was having a normal sized garage. A double wide garage would have been sweet.

[melloman]

The US Housing Market TANKED 2 years ago when the "depression" finally hit them hard. There are stats out there that 1 of every 10 homes in Florida are abandoned.. I watch HGTV and see how houses (4 or 5 bedroom) go for as low as 225k.. and that's maybe 20-30 minutes form these "main downtown hubs."

I do really hope that the housing bubble does burst in the next 5 years, considering I'm 21 with a professional job.. I'm just holding out and hoping prices stop going up.. I'd love to live in Burnaby still once I get a place and not move across a bridge.

[quasi]

I went the townhouse route in the burbs first, did that for 5 years and then I bought a house after building equity. I've been in this house for almost 3 or 4 years now (I can't remember) again building equity. I was lucky because when I bought my townhouse because prices hadn't gone to out of control at that point but I didn't get a discount when I bought my house.

I live in the suburbs and I love it here. I'm surrounded by new homes, new schools and young families which is great for bringing kids up in. I don't have the answers and I couldn't tell you if buying now or later is the smart thing to do but I will say for me I'm glad I never waited. At this point even if the bottom fell out or interest rates go to 1980 levels I know I'll be fine.

[Tapioca]

I'll chime in with my experience here.

You won't get into a detached home with that salary, but if you aren't having a family, why would you? I have a 2 bedroom/2 bath condo (I've rented out the other bedroom) and I don't need any more space. But, having grown up in a detached home, I understand its appeal. There are a lot of downsides to condo living - inconsiderate neighbours, special assessments for things that break or get damaged (they will, trust me), lack of customization, etc. In my opinion, when you buy a condo, you don't actually own land - you just pay for the right to live in several hundred square feet of air in the sky (that has a legal title.)

If I were to do it all over again, I would strongly have considered renting. Unless you're chained to your job, renting gives you flexibility. Moreover, renters, at least in this province, have tremendous rights. There's the lifestyle angle as well: unless you're one of those anti-social types, you're going to want to spend your money on things like nights out, clothes, toys, etc. Once you have a mortgage, you'll have to sacrifce a lot (or somehow, make more money to have it both ways.)

And netting $50k a year is equivalent to roughly $80k gross... let's not kid ourselves $80k/yr is not an easy salary to achieve.

80K is not an unreasonable total income for someone in their late 20s. I would say that 60K is an average salary for your typical university-educated person in their late 20s. Most people I know have side gigs (whether it's part-time businesses or jobs and/or investments) which pushes up their incomes by another 10-20K a year.

[wouwou]

You sound like you are in a profession where overseas demand is huge, and you can make a lot more overseas than here. Not every profession has this potential. What will happen to your income when you come back here to work because you want to spend the time with your family?

I really respect your approach to this. For me, what is the point of getting married and starting a family, if you cannot be there to enjoy and grow with the family. I know you are working your tail off to provide the best for your family and to make things easier for them, but my take is that contributions to family run much deeper than just money. It sounds like you are feeling that too.

Hey I know what you are saying. I just quit my job because of the long distance is not working out, and missing a year when my daughter is growing up absolutely kills me. I actually saw a picture in the powerful picture thread in NSFW section and that was the last straw. I just picked up my phone and gave my notice right then and there.

I am in Finance, and I will say that my position is unique. I went back for a holiday, then a job was mentioned and after weighing the pros and cons we decided to take it and spend two years for a much brighter outlook.

Now I can return to Canada, get a 30k job and know my family is provided for because I have the capital needed for a home and a investment property for supplemental income.

My wife is also free to choose to work part time if she so prefers, and I get to spend a lot of time with my family and won't have nightmares of losing my job and the mortgage payment is up.

Will I do it again? fuck no. Do I regret taking up that job? not really either. My advice is you are young & single: work your ass off, leave your comfort zone, explore and take shit load of risks. Once you are in a relationship/have a family, good luck doing that.

And guess what, when you can buy stuff without looking at the price tag, and mature enough because you worked everywhere?

EVERY FEMALE WANTS TO FUCK YOU.

[taylor192]

80K is not an unreasonable total income for someone in their late 20s. I would say that 60K is an average salary for your typical university-educated person in their late 20s. Most people I know have side gigs (whether it's part-time businesses or jobs and/or investments) which pushes up their incomes by another 10-20K a year.
30% of Canadians get a university degree, 40% some form of post-secondary degree, and 60% have some form of post secondary education.

~10% of Canadians make more than $80K/yr, with most of that concentrated in the 40-60yo age group.

That works out to be about 2% of all 25-29yos with a university education make > $80K, which would be not be very reasonable at all.

All data is available on StatsCan.

[HonestTea]

You sound like you are in a profession where overseas demand is huge, and you can make a lot more overseas than here. Not every profession has this potential.


I'm curious, which professions have the most demand overseas?

[darkfroggy]

Parent's House

Free 2 bedrooms.
Free utilities.
Free car + gas.
Free high-speed internet.
Free flatscreen TV + HD channels.
Free food prepared daily.

(Okay, it's not free if you pay, but you get my point).

vs.

Renting your Own Place

Full-time university student working 5 days/week splitting a cramped apartment/basement eating take-out food everyday. Have to use neighbour's unsecured wi-fi because the landlord is too cheap to include it, and only available channels are CBC and some random stuff. Roommate's classes start at 1:00PM, while yours starts at 9:00AM.

Fuck that "independent" shit, why would you ever move out? You must enjoy shelling $1000+ to live like some second-worlder. At least when I pay my parents, shit stays within the family.

Rep your parent's basement, bros. :fuckyea:


























































My mom still washes the dishes and does the laundry, and she calls home from work to wake me up every morning. :alone::alone::alone::okay:

[Great68]

Parent's House

Free 2 bedrooms.
Free utilities.
Free car + gas.
Free high-speed internet.
Free flatscreen TV + HD channels.
Free food prepared daily.

(Okay, it's not free if you pay, but you get my point).

vs.

Renting your Own Place

Full-time university student working 5 days/week splitting a cramped apartment/basement eating take-out food everyday. Have to use neighbour's unsecured wi-fi because the landlord is too cheap to include it, and only available channels are CBC and some random stuff. Roommate's classes start at 1:00PM, while yours starts at 9:00AM.

Fuck that "independent" shit, why would you ever move out? You must enjoy shelling $1000+ to live like some second-worlder. At least when I pay my parents, shit stays within the family.

Rep your parent's basement, bros. :fuckyea:

My mom still washes the dishes and does the laundry, and she calls home from work to wake me up every morning. :alone::alone::alone::okay:

How old are you?

I have a cousin who's story sounds just like yours, lives at home, mom does his laundry, feeds him, etc...

The only catch is that he's 35 years old and isn't a student (has a job and money).

I find him pretty pathetic.

[darkfroggy]

How old are you?

I have a cousin who's story sounds just like yours, lives at home, mom does his laundry, feeds him, etc...

The only catch is that he's 35 years old and isn't a student (has a job and money).

I find him pretty pathetic.

22 and I still need my mom to tell me to clean my own room.

:alone:

[Great68]

22 and I still need my mom to tell me to clean my own room.

:alone:

That's cool, but if you're still doing the same by 30, then something's wrong with you.

[Anjew]

oh moms... they're the best.... back to topic.

go get a place with your significant other if you have one to lessen the damage....

ignore the negative views on living at home with parents until your late 20's. it can be mutually beneficial for you AND your parents(if they want you at home lol)....

[Culverin]

Parents will always tell you to clean your room.

I've moved out and my place has always been a sty. Sure, some friends really can't stand it. But hey, it's still hygenic and sterile. It's just cluttered.

Only if you can't find your stuff do you have a real problem.

[Anjew]

How old are you?

I have a cousin who's story sounds just like yours, lives at home, mom does his laundry, feeds him, etc...

The only catch is that he's 35 years old and isn't a student (has a job and money).

I find him pretty pathetic.

in ancient times that was norm for mothers to take care of their sons in that way their entire lives... Female lions hunt food for the entire pack. whats the difference between a man in his 20's and a man in his 30's.... would the former get smarter? more mature? (not necessarily).

i had a job and made money in my 20's but did i rush to move out "show" that i'm mature and independent? no.... that's the trend that Asian families have brought over and it i think is positive. (obviously a bad side effect of over protective moms, but whatever right?)

[taylor192]

Only if you can't find your stuff do you have a real problem.

The lunatics on Hoarders can usually find anything and everything in their piles of junk. Just saying...

[Great68]

in ancient times that was norm for mothers to take care of their sons in that way their entire lives... Female lions hunt food for the entire pack. whats the difference between a man in his 20's and a man in his 30's.... would the former get smarter? more mature? (not necessarily).

i had a job and made money in my 20's but did i rush to move out "show" that i'm mature and independent? no.... that's the trend that Asian families have brought over and it i think is positive. (obviously a bad side effect of over protective moms, but whatever right?)

I'm sure for my cousin, "I live with my parents" works as a GREAT pickup line for the women.

[Noir]

Parent's House

Free 2 bedrooms.
Free utilities.
Free car + gas.
Free high-speed internet.
Free flatscreen TV + HD channels.
Free food prepared daily.

(Okay, it's not free if you pay, but you get my point).

vs.

Renting your Own Place

Full-time university student working 5 days/week splitting a cramped apartment/basement eating take-out food everyday. Have to use neighbour's unsecured wi-fi because the landlord is too cheap to include it, and only available channels are CBC and some random stuff. Roommate's classes start at 1:00PM, while yours starts at 9:00AM.

Fuck that "independent" shit, why would you ever move out? You must enjoy shelling $1000+ to live like some second-worlder. At least when I pay my parents, shit stays within the family.

Rep your parent's basement, bros. :fuckyea:



My mom still washes the dishes and does the laundry, and she calls home from work to wake me up every morning. :alone::alone::alone::okay:

Those are all great perks and all, but there's a point where all those perks you're benifitting from will stop you from getting laid. at all.

Enjoy it while you're still young and can get away with it.

[alpinestars]

mfw op expects top 5 most livable city in the world, located in an indiscriminate nation with free healthcare, to be affordable: :fuckthatshit:

[nns]

I'm not sure why the OP was failed. It's a perfectly valid question many people this age are wondering about.

I know I'm learning from some of these replies.

RS is just too damn fail-happy.

[Tapioca]

30% of Canadians get a university degree, 40% some form of post-secondary degree, and 60% have some form of post secondary education.

~10% of Canadians make more than $80K/yr, with most of that concentrated in the 40-60yo age group.

That works out to be about 2% of all 25-29yos with a university education make > $80K, which would be not be very reasonable at all.

All data is available on StatsCan.

I can't argue the statistics, but I find it hard to believe that some of my friends and colleagues comprise 2% of earners in my approximate age bracket. I would imagine that most people here have friends who are professionals - lawyers, health care practitioners, engineers, etc. and the numbers of these people would surely comprise more than 2%.

I don't know about you, but every time I log onto my LinkedIn account, everybody is a bloody manager, executive, or sales leader of some sort. Even if half are "pseudo-managers" and are making in the upper 40s, the other half have to be in the high 60s to low 70s.

i had a job and made money in my 20's but did i rush to move out "show" that i'm mature and independent? no.... that's the trend that Asian families have brought over and it i think is positive. (obviously a bad side effect of over protective moms, but whatever right?)

Well, all the power to you if you settled down with a humble Chinese woman. For the rest of us who have to compete for the ever-shrinking pool of decent women, living in the parents' basement ain't going to cut it.

[wouwou]

The only reason why I will live with my parents is to take care of them.

Once you tasted the freedom of living by yourself, there's no turning back at all. I will much rather not buying the dozen blu rays than watching porn with my doors locked and on headphone

[iEatClams]

I can't argue the statistics, but I find it hard to believe that some of my friends and colleagues comprise 2% of earners in my approximate age bracket. I would imagine that most people here have friends who are professionals - lawyers, health care practitioners, engineers, etc. and the numbers of these people would surely comprise more than 2%.

I don't know about you, but every time I log onto my LinkedIn account, everybody is a bloody manager, executive, or sales leader of some sort. Even if half are "pseudo-managers" and are making in the upper 40s, the other half have to be in the high 60s to low 70s.



Well, all the power to you if you settled down with a humble Chinese woman. For the rest of us who have to compete for the ever-shrinking pool of decent women, living in the parents' basement ain't going to cut it.

for every successful friend I have, I can name like 5 other guys that I went to highschool/university with that aren't as successful.

the same can be said about women and looks.

We just notice the successful or attractive ones.

Try it yourself, go to a mall (any public place really), and count the number of average or ugly girls. You'd be surprise but how many you see when you actually trying to find ugly or average ones.

[Lomac]

I can't argue the statistics, but I find it hard to believe that some of my friends and colleagues comprise 2% of earners in my approximate age bracket. I would imagine that most people here have friends who are professionals - lawyers, health care practitioners, engineers, etc. and the numbers of these people would surely comprise more than 2%.

I don't know about you, but every time I log onto my LinkedIn account, everybody is a bloody manager, executive, or sales leader of some sort. Even if half are "pseudo-managers" and are making in the upper 40s, the other half have to be in the high 60s to low 70s.

Part of the skewed stats on your part may be because of where we live. Vancouver has a high concentration of home offices, law firms and health care units. Sure, a large portion of Canada also has this (Toronto, Montreal, etc) but the majority of the country isn't as rich as you may think. The Maritimes are dirt poor because there are few job opportunities out there that can fetch you large sums of money. The Prairies are also relatively poor since farming is the main form of living out there. Hell, even North of Chilliwack there are few ways of making a decent living. Leave the surrounding areas of the major metropolitan areas of Canada (and subsequently end up with the majority of Canada's population) and you'll find that the people out there make relatively very little.

[Tapioca]

for every successful friend I have, I can name like 5 other guys that I went to highschool/university with that aren't as successful.


No doubt - 20% being what I call 'successful' is closer to reality, at least in my realm.

Part of the skewed stats on your part may be because of where we live. Vancouver has a high concentration of home offices, law firms and health care units. Sure, a large portion of Canada also has this (Toronto, Montreal, etc) but the majority of the country isn't as rich as you may think. The Maritimes are dirt poor because there are few job opportunities out there that can fetch you large sums of money. The Prairies are also relatively poor since farming is the main form of living out there. Hell, even North of Chilliwack there are few ways of making a decent living. Leave the surrounding areas of the major metropolitan areas of Canada (and subsequently end up with the majority of Canada's population) and you'll find that the people out there make relatively very little.

Yep, no disagreement here.

I guess where I'm coming from is that I don't think these factors are all that relevant to the typical RS user. By that, I mean someone who had a relatively privileged upbringing (i.e. growing up in a detached house in Metro Vancouver) and had the opportunity to attend post-secondary.

[drunkrussian]

why would a single guy in his 20s need a house? and if ur not single, your and your common law's incomes shoild certainly be enough for a house. but why do you need a house anyway? whats with peoples obsession with owning everything and getting things NOW instead of working, saving progressing and then affording it, rather than being broke and owning right now. a lotta ppl complain about the market, but for me the depressing thing is the attitudes
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[bing]

I'll chime in with my experience here.

You won't get into a detached home with that salary, but if you aren't having a family, why would you? I have a 2 bedroom/2 bath condo (I've rented out the other bedroom) and I don't need any more space. But, having grown up in a detached home, I understand its appeal. There are a lot of downsides to condo living - inconsiderate neighbours, special assessments for things that break or get damaged (they will, trust me), lack of customization, etc. In my opinion, when you buy a condo, you don't actually own land - you just pay for the right to live in several hundred square feet of air in the sky (that has a legal title.)

If I were to do it all over again, I would strongly have considered renting. Unless you're chained to your job, renting gives you flexibility. Moreover, renters, at least in this province, have tremendous rights. There's the lifestyle angle as well: unless you're one of those anti-social types, you're going to want to spend your money on things like nights out, clothes, toys, etc. Once you have a mortgage, you'll have to sacrifce a lot (or somehow, make more money to have it both ways.)



80K is not an unreasonable total income for someone in their late 20s. I would say that 60K is an average salary for your typical university-educated person in their late 20s. Most people I know have side gigs (whether it's part-time businesses or jobs and/or investments) which pushes up their incomes by another 10-20K a year.

Even with a bachelor's degree, unless it can get you a job as a specialist, engineer, or sales, 80k seems kind of optimistic. The average family incomes in vancouver and richmond are much lower at 60-70k, and that's a figure that counts 2 people.

StatsCan 2006
http://www12.statcan.gc.ca/census-recensement/2006/dp-pd/prof/92-591/details/page.cfm?Lang=E&Geo1=CD&Code1=5915&Geo2=PR&Code2=59&Data=Count&SearchText=Greater%20Vancouver&SearchType=Begins&SearchPR=01&B1=All&GeoLevel=PR&GeoCode=5915

[UFO]

Will I do it again? fuck no. Do I regret taking up that job? not really either. My advice is you are young & single: work your ass off, leave your comfort zone, explore and take shit load of risks. Once you are in a relationship/have a family, good luck doing that.


Once again, I tip my hat off to you, and your wife also. That couple years must have been rough. To know that with everything you've gained from that great opportunity, you wouldn't do it again if you had the choice, really tells the story. I couldn't imagine spending the first couple years away from my wife after we got married. But you are fully right once you are engaged in any sort of family life, your ability to take risks takes a huge hit. With my situation, I'm not in a situation to take a gamble that big to risk a possible payoff or loss. You gotta roll big to win big right?

I'm curious, which professions have the most demand overseas?

I wouldn't know, but not mine. It's not like working overseas is guaranteed big easy money. If you want money close to home, go work in the oil industry in Northern Alberta. Do a few years, manage your finances well, and enjoy the perks of high paying salaries. There's a reason why these jobs pay well, you give up a lot to do it and it's hard work.

[taylor192]

Part of the skewed stats on your part may be because of where we live. Vancouver has a high concentration of home offices, law firms and health care units. Sure, a large portion of Canada also has this (Toronto, Montreal, etc) but the majority of the country isn't as rich as you may think. The Maritimes are dirt poor because there are few job opportunities out there that can fetch you large sums of money. The Prairies are also relatively poor since farming is the main form of living out there. Hell, even North of Chilliwack there are few ways of making a decent living. Leave the surrounding areas of the major metropolitan areas of Canada (and subsequently end up with the majority of Canada's population) and you'll find that the people out there make relatively very little.
Vancouver has a lower average income than most major Canadian cities: Median total income, by family type, by census metropolitan area (http://www40.statcan.ca/l01/cst01/famil107a-eng.htm)

80% of Canadians live in cities.
85% of Canadians live in Quebec, Ontario, Alberta, and BC.

The only way the stats are skewed is if all your friends live in Yaletown and aren't just pretending.

[alpinestars]

Vancouver has a lower average income than most major Canadian cities: Median total income, by family type, by census metropolitan area (http://www40.statcan.ca/l01/cst01/famil107a-eng.htm)

80% of Canadians live in cities.
85% of Canadians live in Quebec, Ontario, Alberta, and BC.

The only way the stats are skewed is if all your friends live in Yaletown and aren't just pretending.

stats? save it for RFD, friend.

[shawn79]

How is this possible for a guy mid 20's making $40-50k be able to buy a house in vancouver?


is the only way to a home is something like an apartment?

:concentrate:
get the bitch out the kitchen and a have dual income to support housing under a 25 yr plan. Then acquire money and the powa mang