“First Time Buyers Plunge into the Property Market”
This stuff sends me over the edge.
Once again, the Vancouver Sun touting the miraculous ‘condo’ as the home buyers godsend.
“Purchasers refuse to be priced out of the market, even though household income has not kept pace with the housing appreciation.” Not one mention in the article about how risky this is.
“A decade or so ago, buyers expected to own a house like their parents,’ (Elton) Ash said in an interview.? Now in Vancouver, almost every other property sold has been a condominium.”? Emmmm, being that condo’s are pretty much all that is being built and marketed in Vancouver…duh!
So if you fit the criteria of single, childless or max two kids (yes I know there ARE exceptions!), then suuuure buy an over priced shoebox! ? But for families like mine that need space for home businesses and animals, well…..nope, sorry. ? A condo is not going to cut it, so stop telling me how it is a great way for me to get into the housing market.
I am so tired of the paper avoiding issues like the problem of housing for middle and lower income families.? I am so tired of them not covering the risks of taking on HUGE mortgages.
Our broker was more than happy to give us a fab mortgage.? We couldn’t afford it, but they would have given it to us.
That is terrifying.
I HATE how our newspaper handles the real estate. I realize they make BAGS of money from the advertising, but it is always so gag me rah rah.
Tags: BC
3.21.07 at 11:21 pm
B comments:
like i have mentioned before i used to work for a brokage and almost became one myself… i know how sickening it is.
i agree this is a terrible place to want to own a home now. i hope after 2010 the real estate bubble will finally break.
on a side note, townhouses might be more realistic for a family. They usually have a little yard, and an area for families. the townhouse i used to own in Burnaby was very family geared, it was 3 bedrooms, had 3 floors, a little patio and garden out back through a sliding glass door in the rec room. the property had a play ground area on the common grounds, there were lots of kids playing in the private driveway.
3.22.07 at 7:22 am
crunchy comments:
B- yeah we have been looking at townhomes but even a lot of them are a bit beyond us at the moment…specially in town. But finding a nice one in Burnaby would be great.
There are some though……we just need to get all our work stuff nailed down to know how much money we will have for the next while…
3.22.07 at 4:36 pm
M comments:
Vancouver’s housing market depresses and angers the hell out of me. As it is now, my husband and I could never afford to buy here.
One of the many things that drives me insane is how Vancouver (proper) is turning into a not-for-families city. With all these new developments being built, how many of them have 3 or more bedrooms? Of those that do, how many of them can a young family afford to buy? I love this city, but I’m feeling like I’m no longer welcome in it. I would love to have a large family (4), but it’s turning into that having two is a luxury. It makes me very sad.
3.22.07 at 4:46 pm
crunchy comments:
M, that is it exactly.
Where are We supposed to buy?
Where is there an affordable house for a family of four and office AND animals?
Every time I see a new townhouse it is not much bigger than what we have.
Just ticks me off