[dinosaur]

UBC and Stats Can just released Canada's Standard of Living study and found that BC is #1 in sucking. Yeeeah boy!

This province is getting more awesome by the day!

Incomes, house prices leave young B.C. families worse off than anywhere in Canada (http://www.vancouversun.com/news/Incomes+house+prices+leave+young+families+worse+th an+anywhere+Canada/5567613/story.html)

Also at 12:06 on the noon news on Global.

[spoon.ek9]

lol big surprise...

[dinosaur]

"Standard of living for today's generation has deteriorated more in B.C. than any other part of the Country".

awesome.

[!Yaminashi]

Soon it'll cost too much to live in a cardboard box
WHAT UP

http://media.tumblr.com/tumblr_lhmhfdn2ey1qdgl7m.gif

:okay:

[Santofu]

This is a very interesting reading... 24 Hours Vancouver (http://vancouver.24hrs.ca/News/local/2011/10/03/18776041.html)

Vancouverites need to get pay at least $18.81 a hour to live in Vancouver.

[Mr.HappySilp]

What do you expect when rich immgrants came to Vancouver to jack up everything.

[JD¹³]

Yup, it's forced me out so I'll be gone by spring. The cost of living plus the idea that 50% of what I earn is taxed right back to the gov't has zero appeal to me.

[Gtrr33]

my bestfriend and his wife moved to TO a year ago, long story short they are leaving very well. i will go there to visit soon and see if i like it.

[Meowjin]

im moving to australia to bang hot australian broads

[ShadowBun]

^LOL

[dachinesedude]

inb4 vancouver is such a beautiful city, our trees, ours mountains, our beaches, our 2month summer, our mild wet weather

how do u enjoy this city if you cant even afford to live in this city

[Sid Vicious]

http://www.motifake.com/image/demotivational-poster/0911/goobacks-demotivational-poster-1257772655.jpg

[murd0c]

inb4 vancouver is such a beautiful city, our trees, ours mountains, our beaches, our 2month summer, our mild wet weather

how do u enjoy this city if you cant even afford to live in this city

easy you live in a 200sq ft apt for $2500a month rent and buy starbucks 6 times a day and don't shower.

[dinamix]

I enjoy van. People just have to be smart with their money. I shop at the dollar store and by my groceries at t and t. I never pay retail for my shit.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[ShadowBun]

buying groceries at T&T is like paying retails isnt it?

[!Yaminashi]

buying groceries at T&T is like paying retails isnt it?

I guess chinese retail is different than Canadian retail? :p

[Mr.HappySilp]

I enjoy van. People just have to be smart with their money. I shop at the dollar store and by my groceries at t and t. I never pay retail for my shit.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

LOL T&T is actually more expensive than superstore @@ so good job on spending more.

Try Crystal mall or Costco.

[taylor192]

50% of what I earn is taxed right back to the gov't has zero appeal to me.
I make 6 figures and even my total tax bill including HST and income tax is not 50% of my income. In fact my income tax is $3K lower than Ontario.

You must be headed to Alberta.

[MG1]

I enjoy van. People just have to be smart with their money.

That part I agree with........ the other stuff, not so muchee.

[GLOW]

That part I agree with........ the other stuff, not so muchee.

that explains it.
i saw you thank and fail his post at the same time and i was :fulloffuck:

[dinamix]

I usually get my meats and veggies there's. So much cheaper compare d to wholefoods or those other overpriced markets.
I meant I never pay retail for my electronics or other stuff. hey markup 300% percent of cost. Ie futureshop. I shop in the states too. The more money I save from shopping the more I can spend on vacays and partying.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[Mr.HappySilp]

Partying is wasting you money lol.
There is not much working class here can do as long as the gov lets rich ppl from other countries bring loads and loads of money in the our economy. The gov interest is to balance the books, they don't care what happen to us.
Soon we will be like Hong Kong where 90% of our income goes to meet ends need.

[unit]

just wait for the housing bubble to burst. we'll be at the top again! :troll:

[Tegra_Devil]

waiting for bubble to burst......................not gonna happen in my life time :troll:

[unit]

thats what they said in the US in 2008.

[drunkrussian]

fucking skytrain
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[wstce92]

waiting for bubble to burst......................not gonna happen in my life time :troll:

Should be soon, hold in there! If not burst, there should be a dip or some dips before the burst.

[ShadowBun]

its gonna dip real soon but nothing major

[Tegra_Devil]

Should be soon, hold in there! If not burst, there should be a dip or some dips before the burst.

i frickin hope so, i wanna buy a condo asap

[Durrann]

inb4 vancouver is such a beautiful city, our trees, ours mountains, our beaches, our 2month summer, our mild wet weather

how do u enjoy this city if you cant even afford to live in this city

dont forget vancouver has beautiful girls

but theys expensive as well (to date) :alone:

[iEatClams]

i frickin hope so, i wanna buy a condo asap

I think a lot of people have your type of thinking.

There are many people in Metro Vancouver who do not have enough money to buy a Single Family dwelling and instead can only afford a condo.

The only problem is many of these people are paying 50% of their gross income towards rent or mortgages and essentially have no room for savings.

A large proportion of people have no money in their RRSP or savings.

If you talk to anyone that doesn't have any help from wealthier parents, this is basically the case, they live paycheck to paycheck.

People that are paying their mortgages on dual income are screwed if the spouse loses their job, or if interest rates ever go up (although personally I think it will be low for the foreseeable future)

[hk20000]

It's ok to grow up in condos....what makes you think it's such a bad thing? You never have to worry about maintenance or cutting the grass or shits like that....

I'd like to live in a condo even if I somehow win the lottery and be able to afford a detached...

[q0192837465]

^but strata fee is expensive too. Wait until there are some leakage and prepare to get ur ass raped

[iEatClams]

It's ok to grow up in condos....what makes you think it's such a bad thing? You never have to worry about maintenance or cutting the grass or shits like that....

I'd like to live in a condo even if I somehow win the lottery and be able to afford a detached...

I never said it isn't okay to live in condos, I just dont think its a good idea if you are buying "just to get in" where you pay 50% + of your income to pay your mortgage.

Or people that pay 50% + of their income on rent just so they can live downtown or in a "hip" neighbourhood.

[Tegra_Devil]

I think a lot of people have your type of thinking.

There are many people in Metro Vancouver who do not have enough money to buy a Single Family dwelling and instead can only afford a condo.

The only problem is many of these people are paying 50% of their gross income towards rent or mortgages and essentially have no room for savings.

A large proportion of people have no money in their RRSP or savings.

If you talk to anyone that doesn't have any help from wealthier parents, this is basically the case, they live paycheck to paycheck.

People that are paying their mortgages on dual income are screwed if the spouse loses their job, or if interest rates ever go up (although personally I think it will be low for the foreseeable future)

i think you underestimate my financials ;)

[optiblue]

It's #1 in sucking unless you're a rich imigrant from China that can afford to street race down the 99 :troll:

[iEatClams]

i think you underestimate my financials ;)

Just saying, I never meant it to be directed at you personally but good on ya.

Thinking of buying in burquitlam? lougheed town centre, north road/como lake-ish where the new skytrain will be.

[maxxxboost]

Yes, i agree that Vancouver is no longer affordable for a lot of people, but it is these rich people that also inject money into our society. I can't blame them for trying to improve their own lives, something attracts them to Vancouver so be glad we are still part of that.
It sucks that the only way to live around here is take over parents old place, make lots of money or move further out but i would much rather do that than live somewhere else.

[dinosaur]

^but strata fee is expensive too. Wait until there are some leakage and prepare to get ur ass raped

Yeah, strata fees in condo buildings are INSANE!

My friend and I each bought a place a few blocks away from each other...he a condo, me a townhouse. My townhouse was 20k more than his condo and has a fee of $126/month. His? $380/month!!

An addition $254/month towards a mortgage is HUGE. He would basically be paying the same an additional 20k on his mortgage and eventually have a return on the investment. Paying a strata is like throwing money away (yes, i know... maintenance, lawns, gardens, blah blah blah), I think it is still a bit of a rip-off.

If you want to buy something sooner than later, I suggest waiting another year to afford a townhouse and avoid a high strata fee.

[iEatClams]

Yeah, strata fees in condo buildings are INSANE!

My friend and I each bought a place a few blocks away from each other...he a condo, me a townhouse. My townhouse was 20k more than his condo and has a fee of $126/month. His? $380/month!!

An addition $254/month towards a mortgage is HUGE. He would basically be paying the same an additional 20k on his mortgage and eventually have a return on the investment. Paying a strata is like throwing money away (yes, i know... maintenance, lawns, gardens, blah blah blah), I think it is still a bit of a rip-off.

If you want to buy something sooner than later, I suggest waiting another year to afford a townhouse and avoid a high strata fee.

I agree, if any of these condos become leaky, the remediation costs on the building envelope will be huge. Hopefully all this new rainscreen technology will hold up.

Any of the older buildings can have leaky issues and if you dont have the funds, you're screwed. One advantage of living in a high-rise condo is you save on Heating costs compared to townhomes.

"Affordable" townhomes are now the stack style where it looks like a low-rise condo. Otherwise its easily 700K + for a typical newer townhome.

[Lomac]

While it's fun to bitch about housing costs in the Lower Mainland (and, sadly, it's usually valid), there are still tons of developments locally that are going for relatively cheap. Two apartment blocks just went up in Langley with units that start at $150,000. No, they're not particularly big places, but considering a comparable unit on the other side of the Fraser would go for at least twice the price, it's a good alternative. And it's not like these buildings are in sketchy parts of the city either.

[wouwou]

I agree, if any of these condos become leaky, the remediation costs on the building envelope will be huge. Hopefully all this new rainscreen technology will hold up.

Any of the older buildings can have leaky issues and if you dont have the funds, you're screwed. One advantage of living in a high-rise condo is you save on Heating costs compared to townhomes.

"Affordable" townhomes are now the stack style where it looks like a low-rise condo. Otherwise its easily 700K + for a typical newer townhome.
Townhouse in Deer Lake area is in the 500-600k area, and they are a lot better than the typical "newer" townhouse.

[wouwou]

While it's fun to bitch about housing costs in the Lower Mainland (and, sadly, it's usually valid), there are still tons of developments locally that are going for relatively cheap. Two apartment blocks just went up in Langley with units that start at $150,000. No, they're not particularly big places, but considering a comparable unit on the other side of the Fraser would go for at least twice the price, it's a good alternative. And it's not like these buildings are in sketchy parts of the city either.

For families it's whether the parts of a city is sketchy, it's whether there's a decent school by.

Which is part of a big reason why Vancouver has a big lead in terms of property pricing.

[maxxxboost]

Yeah, strata fees in condo buildings are INSANE!

My friend and I each bought a place a few blocks away from each other...he a condo, me a townhouse. My townhouse was 20k more than his condo and has a fee of $126/month. His? $380/month!!

An addition $254/month towards a mortgage is HUGE. He would basically be paying the same an additional 20k on his mortgage and eventually have a return on the investment. Paying a strata is like throwing money away (yes, i know... maintenance, lawns, gardens, blah blah blah), I think it is still a bit of a rip-off.

If you want to buy something sooner than later, I suggest waiting another year to afford a townhouse and avoid a high strata fee.


It depends what kind of amenities each place offers. If condo has a indoor pool, out door pool, gym and club house, of course it will be more expensive. Furthermore, the cost for the elevator maintenance is not cheap (assuming the condo has an elevator and the townhouse doesn't). Many of these features are not featured in a townhouse.

But i agree, Its like throwing away money. But it is a lifestyle your buddy likes i suppose.

[Lomac]

For families it's whether the parts of a city is sketchy, it's whether there's a decent school by.

Which is part of a big reason why Vancouver has a big lead in terms of property pricing.

You can't throw a rock in Langley without hitting a school of some sort (or a church... or park... or a Starbucks... lol).

Langley can still be insanely pricey (a development by my place has plots of land that start at $3/4 million for a 1/3 acre), but thankfully there are cheap alternatives for young families.

[b0unce. [?]]

i doubt i'll ever be able to fully pay off a house considering the prices of housing is so high and only going higher.

[penner2k]

dont forget vancouver has beautiful girls

but theys expensive as well (to date) :alone:

Calgary has better looking girls and they are friendlier and usually make their own money.

You also have dudes in Calgary that are under 30 that own their house, have a nice truck, and a couple quads and snow mobiles.
You are also only an hour away from Banff and 3 hours away from golden for all your winter wonderland needs.

[scottsman]

It is comical when people or families complain about money and they have two or three kids and are still in debt from school or say they cannot afford groceries. What ever happened to being responsible with life decisions?

[FerrariEnzo]

Soon it'll cost too much to live in a cardboard box

the cardboard box will be cheap, its the land value thats going kill you... going to have to rent per square feet...


If you dont have a good job from before, its hard to get a good job now... so people living paycheck to paycheck are screwed, regardless...
sux for people who has 2 jobs, get dinged on tax day

[Z3guy]

you can either bitch about how expensive it is to live in Vancouver (you are right) or just accept Van is a crazy expensive city, like NY or SF and figure out a way to make it work for you and your family.

[melloman]

While it's fun to bitch about housing costs in the Lower Mainland (and, sadly, it's usually valid), there are still tons of developments locally that are going for relatively cheap. Two apartment blocks just went up in Langley with units that start at $150,000. No, they're not particularly big places, but considering a comparable unit on the other side of the Fraser would go for at least twice the price, it's a good alternative. And it's not like these buildings are in sketchy parts of the city either.

Langley... so that would make my daily commute about 1.5 hours to Richmond? :fuckthatshit:

It's the point of Vancouver's housing prices are rising so quickly, it's pushing people out. Surrey/Langley/Abbotsford.. that's where young families are going, while their jobs stay in Vancouver. If I moved to Langley, I'd need a new job.. because I would refuse to travel to Richmond everyday. Yet again, jobs are scarce, so finding another good paying job is going to be very difficult.

Too many problems with too many variables.

[Z3guy]

If anyone has spent time in Toronto, the avg commute time for most people is 1hr. I personally would shoot myself if I had to commute 1hr each way, every day.

because I work downtown and hate commuting, I would rather live in a 500sq ft condo Vs a bigger house in the burbs......

[wouwou]

you can either bitch about how expensive it is to live in Vancouver (you are right) or just accept Van is a crazy expensive city, like NY or SF and figure out a way to make it work for you and your family.

I have made enough for a townhouse in full, and it still FREAKS ME OUT whenever I consider the living cost in lower mainland.

The cost when compared against earning potential for a typical family is getting out of hand. It's no longer "figuring out a way" because the cost is making a way impossible.

Great weather, great food, diverse culture, but you need a minimum 50k after tax income for a family to live comfortably even when they have their own place.

[wouwou]

You can't throw a rock in Langley without hitting a school of some sort (or a church... or park... or a Starbucks... lol).

Langley can still be insanely pricey (a development by my place has plots of land that start at $3/4 million for a 1/3 acre), but thankfully there are cheap alternatives for young families.

You are right, there are schools within reach anywhere in GVRD, but with my family being Chinese (you guessed it!), the school's rating will make a huge difference.

and the top tier schools in the lower mainland are largely clustered in Vancouver (and North/West Vancouver, but that's even more ridiculous), with the parents' medium income in the 100Ks.

And with higher medium income, it's only logical that the housing price reflect that.

[Z3guy]

I have made enough for a townhouse in full, and it still FREAKS ME OUT whenever I consider the living cost in lower mainland.

The cost when compared against earning potential for a typical family is getting out of hand. It's no longer "figuring out a way" because the cost is making a way impossible.

Great weather, great food, diverse culture, but you need a minimum 50k after tax income for a family to live comfortably even when they have their own place.

as mentioned, you can bitch about it, or do something about it....get a second job, drive a cheaper car, find other means to make money, upgrade your skills so can you make a better living for your family, day trade...are these viable options?

$50k+ is not impossible at all. I good waiter in a nicer restaurant can make $100K+.

[achiam]

It is comical when people or families complain about money and they have two or three kids and are still in debt from school or say they cannot afford groceries. What ever happened to being responsible with life decisions?

You hit it bang-on my friend. That is the first big question that zapped my mind -- you have 2 crappy paying jobs and you chose to have 2 kids? I have plenty of friends nearing 30 who don't even have gfs, but are still in grad school and will earn top dollar the moment they graduate. You reap what you sow. If you can't afford the best, then you'll have to settle for less. Vancouver will NOT see a "real estate bubble bust" because more than half of the home buyers in Van/Bby/WVan, and increasingly White Rock are from Mainland China -- China's growth isn't likely to collapse and there won't be a stoppage in their emigration.

And for the people who bitch about the immigrants, I have plenty of Caucasian professional friends who live well in Vancouver/Downtown -- it's not just the fobs who have cash.

[woob]

...medium income in the 100Ks.

And with higher medium income...

I do believe you mean "median."

Unless I am completely off it and you are talking about 100 000 psychics invading Vancity.

[Phat_R]

you can either bitch about how expensive it is to live in Vancouver (you are right) or just accept Van is a crazy expensive city, like NY or SF and figure out a way to make it work for you and your family.

exactly.

[taylor192]

Langley... so that would make my daily commute about 1.5 hours to Richmond?
In Ottawa and Toronto the jobs got pushed out to the burbs. Tech in Ottawa moved to Kanata, and tech in Toronto moved to Mississauga .

Jobs have been moving to Surrey, and Diane Watts is adamant about building a city that people work and play in. If prices keep up, I suspect Surrey will become like Mississauga in record time.

[achiam]

This thread is depressing. Half time show:

http://www.youtube.com/watch?v=fhseD2tRLUY

[Teh Doucher]

Cost of living here is higher for sure, but you know what? We don't have to deal with fucking -40 temps here during the winter. That alone keeps me from moving away. Also knowing that I'll never have to buy my own house makes me very happy. More money for toys!
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[unit]

People that are paying their mortgages on dual income are screwed if the spouse loses their job, or if interest rates ever go up (although personally I think it will be low for the foreseeable future)

you dont believe interest rates will go up in the forseeable future?
interest rates are rock bottom right now, and they are kept there artificially.
they have nowhere to go other than UP.

the fed has announced it will try to keep interest rates low until 2013. what do you think will happen in 2013? well, the interest rates will go up. if you are refinancing your mortgage and interest rates go up 2%, can you still afford your home? many people will not be able to. not saying they will definitely go up 2% but it could be less it could be more.

Canada interest rates ‘hostage’ to U.S. Fed pledge: analyst | Investing | Financial Post (http://business.financialpost.com/2011/08/18/canada-interest-rates-hostage-to-u-s-fed-pledge-analyst/)

if the interest rate is 3.5 right now, and you have a 350k mortgage over 25yrs, your monthly payment is $1747.
if the interest rate is 5.5, your monthly payment becomes $2136.

who here would be able to afford a $400/month pay cut and still spend less than 50% of their salary on their home?

interest rates will go up so i hope you didnt buy a home you can barely afford.:(

[taylor192]

you dont believe interest rates will go up in the forseeable future?
interest rates are rock bottom right now, and they are kept there artificially.
they have nowhere to go other than UP.

the fed has announced it will try to keep interest rates low until 2013. what do you think will happen in 2013?
I agree in principle, yet in practice I think low rates are here to stay for a long time.

Rates should match inflation, and right now we're sitting on the verge of deflation and recession if the economy gets worse. There's nothing on the horizon other than bad news, no financial/tech/housing/whatever boom to get us out of this funk - so there's no reason for inflation to increase, nor rates.

In fact everything points towards rates going lower. :( so much for saving.

[maxxxboost]

^^ i agree with what Taylor said about interest rate.

The economy is shit. They would increase the interest rate if the economy gets better. I don't see the economy getting better anytime soon.

[Levitron]

I hate it when people complain about the people who are annoyed with higher living costs in Vancouver.

Point is, Vancouver has been artificially inflated. It's not that people don't work hard or save up; "young families" that use the same amount of income in other places across Canada can get much more for their money.

I have friends who have moved to the East, earning same or less than what I do, own or are in the midst of paying off their mortgage on a condo/house solely by themselves. It's impossible for them to do the same over here if they have the same job here.

[Phat_R]

I hate it when people complain about the people who are annoyed with higher living costs in Vancouver.

Point is, Vancouver has been artificially inflated. It's not that people don't work hard or save up; "young families" that use the same amount of income in other places across Canada can get much more for their money.

I have friends who have moved to the East, earning same or less than what I do, own or are in the midst of paying off their mortgage on a condo/house solely by themselves. It's impossible for them to do the same over here if they have the same job here.


Our credit card happy society is also living with too high debt loads -- servicing this debt is what costs society the most.

[unit]

^^ i agree with what Taylor said about interest rate.

The economy is shit. They would increase the interest rate if the economy gets better. I don't see the economy getting better anytime soon.

i dont always agree with peter schiff but check this out:

Peter Schiff "Zero Percent Interest Rates Is Causing Severe Consequences In Our Economy!" - YouTube

[Vspeed]

BC residents are underpaid and overtaxed, yet we still put up with it.

The thought of purchasing a home scares the crap out of me, but it's something I have to do if I want a future for my family.

Is there ever a 'good' time? I think the longer you wait the worse off you will, there will always be that 'I should've done it a few years ago when..'

I'm no analyst, but whatever goes up must come down and vice versa.

Just a few things that came to mind when reading this thread

[dinosaur]

BC residents are underpaid and overtaxed, yet we still put up with it.

The thought of purchasing a home scares the crap out of me, but it's something I have to do if I want a future for my family.

Is there ever a 'good' time? I think the longer you wait the worse off you will, there will always be that 'I should've done it a few years ago when..'

I'm no analyst, but whatever goes up must come down and vice versa.

Just a few things that came to mind when reading this thread

So true.

I thought the "good time" to buy was in 2007/2008. My townhouse was completed in 2009. It made a bit of money even before it was completed but then everything went to hell and it is worth now what I paid for it...maybe 10k more :(. If I wanted to sell, I would lose money with Realtor fees, etc...

Will wait another 5 years and hope to get some good equity.

[wouwou]

I do believe you mean "median."

Unless I am completely off it and you are talking about 100 000 psychics invading Vancity.

you are right, my mistake

[wouwou]

as mentioned, you can bitch about it, or do something about it....get a second job, drive a cheaper car, find other means to make money, upgrade your skills so can you make a better living for your family, day trade...are these viable options?

$50k+ is not impossible at all. I good waiter in a nicer restaurant can make $100K+.

I know where you are coming from, but to me, I am 28 and can already afford to outright buy any property under 400k with cash, have a wife and a kid all together. I would like to think that I am a hard worker, and is at least lucky enough to have the earning potential.

I would also like to think that I am smart with my money, since for the 07-09 years my return is 23% plus. Now it's a 4-5% because I don't have the time to actively trade anymore.

Yet I am still not comfortable living in GVRD because there just arent that many jobs which pay enough against GVRD's living standard.

I have no problem working 10 hrs a day for a reasonable amount of money, but the truth is that working 10 hrs often gets you 35k per year in a typical Vancouver office.

[Tegra_Devil]

Just saying, I never meant it to be directed at you personally but good on ya.

Thinking of buying in burquitlam? lougheed town centre, north road/como lake-ish where the new skytrain will be.

havent been looking overly hard, looking at langley, coquitlam and burnaby

[taylor192]

BC residents are underpaid and overtaxed, yet we still put up with it.
Our taxes are less than other provinces, including Ontario.

The thought of purchasing a home scares the crap out of me, but it's something I have to do if I want a future for my family.
Many families rent and do just fine.
Many families own and are stretched thin.

No-one is forcing you to buy.

[taylor192]

I thought the "good time" to buy was in 2007/2008. My townhouse was completed in 2009. It made a bit of money even before it was completed but then everything went to hell and it is worth now what I paid for it...maybe 10k more :(. If I wanted to sell, I would lose money with Realtor fees, etc...

Will wait another 5 years and hope to get some good equity.
Or wait another 5 years and be way under water. You cannot predict the market, like you didn't know when it was a good time to buy, you won't know when it is a good time to sell. The best thing you can do is be happy where you are and be prepared to stay there a long time.

If you were in Calgary you'd be underwater today.

[MelonBoy]

I enjoy van. People just have to be smart with their money. I shop at the dollar store and by my groceries at t and t. I never pay retail for my shit.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

LOL T&T is actually more expensive than superstore @@ so good job on spending more.

Try Crystal mall or Costco.


Man! you guys dont know how to save money on groceries!

Best place hands down Chinatown the smaller shops. More specifically Chinatown, Sunrise (across from china world)

The produce there is fresher, riper, cheaper then any big box grocery place (superstore, walmart etc)... Only down side is the vegetables aren't thoroughly cleaned and presented..

[wouwou]

Man! you guys dont know how to save money on groceries!

Best place hands down Chinatown the smaller shops. More specifically Chinatown, Sunrise (across from china world)

The produce there is fresher, riper, cheaper then any big box grocery place (superstore, walmart etc)... Only down side is the vegetables aren't thoroughly cleaned and presented..

Damn I miss that place. That's where I do my weekly grocery run.

There is an old lady manning the fruit station. We got along so well she hid the best ones for my family lol.

[penner2k]

Our taxes are less than other provinces, including Ontario.


Many families rent and do just fine.
Many families own and are stretched thin.

No-one is forcing you to buy.

But they are way higher then Alberta. Income tax is lower in Alberta. We pay 5% tax on purchases and last I saw 1.09 a liter for gas. All that adds up.

[xilley]

Yes, i agree that Vancouver is no longer affordable for a lot of people, but it is these rich people that also inject money into our society. I can't blame them for trying to improve their own lives, something attracts them to Vancouver so be glad we are still part of that.
It sucks that the only way to live around here is take over parents old place, make lots of money or move further out but i would much rather do that than live somewhere else.

improve their own lives?
dude they wash money to canada because they cant keep it in their own country EXAMPLE ;CHINA
why? you tell me.

[MG1]

Man! you guys dont know how to save money on groceries!

Best place hands down Chinatown the smaller shops. More specifically Chinatown, Sunrise (across from china world)

The produce there is fresher, riper, cheaper then any big box grocery place (superstore, walmart etc)... Only down side is the vegetables aren't thoroughly cleaned and presented..

I get my produce at Crystal Mall.

Sunrise Market is technically not in Chinatown, BTW. I used to go to Rice World across the street from Sunrise, but have found cheaper places. There's this Korean grocery store on Broadway that I shop at now. It's near Fraser Street.

T&T is definitely not cheap. Once in a while they have good deals in their flyer (it's on line), but everything else is on the expensive side. No Frills is still my main place to shop, but recently their sales haven't been that great. Shoppers Drug Mart has some good sale prices. Large eggs for $1.99 Milk 4.29 for 4L, etc.

You can save a lot of money by using the right credit cards. I always pay off the cards, but the points I get on my PC card is great. Right now, just under a grands worth in points. 300 bucks on my Shoppers Optimum Card (non credit card). Costco is another place I get my groceries from, but you really have to watch your prices there, as well. Not always cheap.

I can go on, but TL;NR

[taylor192]

But they are way higher then Alberta. Income tax is lower in Alberta.

Incorrect: TaxTips.ca - Tax comparison for 2011 by province/territory (http://taxtips.ca/taxrates/taxcomparison/taxcomparison2011.htm)

For most members here (single, young, making ~$50K) BC actually has lower income tax rates than Alberta. Not by much, yet still lower.

If you're really seeking lower taxes, head north, not east.

[Z3guy]

I hate it when people complain about the people who are annoyed with higher living costs in Vancouver.

Point is, Vancouver has been artificially inflated. It's not that people don't work hard or save up; "young families" that use the same amount of income in other places across Canada can get much more for their money.

I have friends who have moved to the East, earning same or less than what I do, own or are in the midst of paying off their mortgage on a condo/house solely by themselves. It's impossible for them to do the same over here if they have the same job here.

Yeah, but you got live somewhere else? would you own a condo in Edm or rent in Vancouver....simple answer...

[Z3guy]

I know where you are coming from, but to me, I am 28 and can already afford to outright buy any property under 400k with cash, have a wife and a kid all together. I would like to think that I am a hard worker, and is at least lucky enough to have the earning potential.

I would also like to think that I am smart with my money, since for the 07-09 years my return is 23% plus. Now it's a 4-5% because I don't have the time to actively trade anymore.

Yet I am still not comfortable living in GVRD because there just arent that many jobs which pay enough against GVRD's living standard.

I have no problem working 10 hrs a day for a reasonable amount of money, but the truth is that working 10 hrs often gets you 35k per year in a typical Vancouver office.

Good for you....sounds like you are doing a great job providing for your family. From my experience, to make it in Vancouver, you cannot do it with only one source of income. Even if you are a director or VP in a larger company making $200K+. Taxes killed you. To be financially successful in Vancouver, you need to a main good paying gig that pays the day to day bills (mrgt, car pymts, kid stuff, etc.) and another gig that will set up your future. This could be additional rental properties, buying a business, day trading if you are good, etc.

Net, net in Vancouver, you must be an entrepreneur (spelling) and must keep you eyes and ears open for any business opportunities. Unfortunately there are not that many high paying corporate jobs in Van.

Think of all the reallly successful people in Vancouver, Bosas, Lee family, Louie family, Galardis, Bentalls.....one thing in common, they all built there empires thru real estate.

[GLOW]

You can save a lot of money by using the right credit cards.

I just signed up for an MNBA that gives 3% cash back towards groceries and gas and 1% everything else. :D

i used to be with citibank but they got bought out by cibc
:heckno::fuckthatshit:

[MG1]

^ because I use the PC credit card so much, I got a letter last week telling me I am eligible for a PC black card. Double points on everything. Credit limit is something astronomical. LOL. I think I can buy a house with it.

[TouringTeg]

As long as Canada has no limit on foreign ownership of real estate, the cost of housing in Vancouver will continue to rise and become more and more unaffordable.

[penner2k]

Incorrect: TaxTips.ca - Tax comparison for 2011 by province/territory (http://taxtips.ca/taxrates/taxcomparison/taxcomparison2011.htm)

For most members here (single, young, making ~$50K) BC actually has lower income tax rates than Alberta. Not by much, yet still lower.

If you're really seeking lower taxes, head north, not east.

LOL @ making $50k a year..

[taylor192]

LOL @ making $50k a year..

:) I was trying to be nice for a change :smug:

[taylor192]

As long as Canada has no limit on foreign ownership of real estate, the cost of housing in Vancouver will continue to rise and become more and more unaffordable.

Australia has much harsher rules, and it didn't work there either. Thus it probably wasn't the issue to begin with.

[unit]

:) I was trying to be nice for a change :smug:

average RS wage is probably more like 25k/yr

[Levitron]

Yeah, but you got live somewhere else? would you own a condo in Edm or rent in Vancouver....simple answer...

Own. It's better to have equity than not. Better loans, etc.

And I did not say Edmonton. East refers to Ontario.

[Z3guy]

^ I used Edm as an example, regardless you would rather own in a shitty Ontario town Vs living life in Van.....it if makes sense to you.....

[Levitron]

^ I used Edm as an example, regardless you would rather own in a shitty Ontario town Vs living life in Van.....it if makes sense to you.....

Yes, you're right, I would much rather own:

04 Modded Porsche GT3
08 Alpine White M5 LCI
09 Stock Acura RDX

...here in BC.

Seriously, no one will argue that "beauty" of living in BC is awesome. What people are discussing here is whether or not a young family can afford to own their own place at the same time as being able to truly enjoy all of the "beauty" that BC offers.

[Z3guy]

^ I agree about owning Vs renting.....heck I am asian, my parents would kill me if I rented......my pt was that I would rather own a 500sq ft condo in East Van Vs having a larger home in a town I don't really like....I travel allot for work and I always love coming home....no better city in the world for quality of life. Making a living here....that's a different story.

[unit]

why do your parents have any say in what you do? arent you an adult?

[Z3guy]

^ it's just a joke man, I stop listening to my parents a decade ago!

[Meowjin]

yep people in australia dont make 28 an hour out of highschool, they all work for 8 dollars an hour.

:rolleyes:

[hotjoint]

I just signed up for an MNBA that gives 3% cash back towards groceries and gas and 1% everything else. :D

i used to be with citibank but they got bought out by cibc
:heckno::fuckthatshit:

If you just signed up for the mbna, You should be getting 5% for gas/groceries for the first 6 months. Did you sign up at great canadian rebates? That's where i signed up and received $60 from them for doing it :)

MBNA Smart Cash MasterCard - Cash Back Rebates & Online Coupons @ Great Canadian Rebates (http://www.greatcanadianrebates.ca/details/MBNA-SmartCash/)

I earned $150 back from them within the first 6 months. Great card imo. I use it to pay for everything unless the place takes cash or debit only.

[GLOW]

If you just signed up for the mbna, You should be getting 5% for gas/groceries for the first 6 months.


yes i got that, i didn't want to post that part as that's only for the first 6 like you said. i didn't sign up through cdn rebates, directly on the mnba site through the sponsor link on RFD so i guess i missed out on the $60

[q0192837465]

Get it ASAP. TD bought MBNA and knowing the big banks, they will probably cut down on the cash back.

[Nightwalker]

If you just signed up for the mbna, You should be getting 5% for gas/groceries for the first 6 months. Did you sign up at great canadian rebates? That's where i signed up and received $60 from them for doing it :)

MBNA Smart Cash MasterCard - Cash Back Rebates & Online Coupons @ Great Canadian Rebates (http://www.greatcanadianrebates.ca/details/MBNA-SmartCash/)

I earned $150 back from them within the first 6 months. Great card imo. I use it to pay for everything unless the place takes cash or debit only.

Sweet tip! Signed up and applied.