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."

Peace.