Thursday, January 04, 2007

Vancouver Area = Ching Ching $$$

The housing market in the Lower Mainland is ridonculous. My parent's just received their annual property and home assessment. Prices have now been increasing less than before, but in my community based on July 2006 figures, housing prices have jumped 30%. My parent's house has increased by $50,0000 in a one year period. Most single family dwellings in the Lower Mainland fetch between a half million to more than a million dollars these days.

I don't know how I'm going to afford a house. It's crazy to think so many people mortgage a good chunk of their lives. One thing I don't get about Vancouver is that condo construction has been booming. Where are people getting these good jobs to afford such units? I want to know. I struggled just to find a salaried position and it's not enough to even be approved for a mortgage.

My friend had a great idea to purchase a trailer home for as little as $20,000 and then deck it out with the best furnishings. And do we really need all that space in a regular house these days anyway? The only challenge is finding property values low enough to make the idea worth it. Living in a trailer park wouldn't be ideal for a souped up trailer (due to possibly getting robbed).

I'm hoping that by the time I get married and look for a home, the housing market will take a big dip and become sane. Prices can only go so high before people can't afford housing right? Otherwise, I may opt to move out East. Then, my blog will be titled "Arnold's Eastcoast which used to be Westcoast because housing prices suck."



Blogger Stefanie said...

Hahahaha... the new blog title makes me laugh. Maybe the income of both you and your future spouse would qualify for a mortgage. Let's all move to Alberta! Oh yeah, they don't have any more housing.

9:00 AM, January 05, 2007  
Blogger t said...

isn't this the truth! marko got two big promotions this year and i am not doing so bad either and yet with our income (which i thought was decent) we would only be able to think about buying in pitt meadows or mission and even then it wouldn't even be very nice.

so silly.

10:17 AM, January 05, 2007  
Anonymous Anonymous said...

Geez... The housing market is dropping everywhere in the states (maybe you should move to the U.S.) LoL I am suggesting that to you as I am doing everything I can to get out of the states heheeh Oops =)

Trailer park? I may not know you well at all, but something tells me that you are not an 8-mile-esque type of guy...=)

Oh by the way... Lumines is SOOO hard that box was impossible to get. I'll stick with the easier puzzle games.. AND YOU SHOULD HAVE KEPT YOUR PSP.. you can load a hack into it and get the games for so much cheaper.


9:12 AM, January 10, 2007  

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