Castanet

Static wrote:

Homeownertoo wrote:BTW, your "a minimum 40% (from peak)" is quite a pullback from an earlier figure of 80% minimum. Hedging your bets already?

The clock is ticking.

Please provide a link for where I said 80%. You are most likely thinking of someone else. I have always beleived it would be between 30 and 50%.

hahahaha and instead everything went up 30 to 50 % lol

But next year for sure the world will end and prices will go down 30-50% then. Lol.

Darn, I always miss the fun stuff.
Maybe I should come on here more often
Ok so I haven't read through all the posts cuz there are like 10 pages of them or something.
So if this has already been mentioned then I apologize up front. No matter what city you live in service jobs need to be filled. Waiter/waitresses, grocery clerks, gas station attendants etc. Those people need to be housed, nearby as the jobs don't pay enough for people to commute from the next town over. The Okanagan has always been severely bad for this along with the Vancouver area. No one working at the Starbucks downtown can afford to live anywhere close to there. So in order for people to be able to get their morning latte, that worker is going to have to be subsidized some how. There is really no way around it. The sooner people realize that the easier and smoother running everyone's lives will be.

Not to mention, the cheaper housing is, the more disposable income there is available to be spent in the local economy creating jobs.

A high cost of living is the worst thing possible for all economies.

Bnoel wrote:Not to mention, the cheaper housing is, the more disposable income there is available to be spent in the local economy creating jobs.

A high cost of living is the worst thing possible for all economies.

High cost of living can be avoided by moving to more affordable places. Vancouver/Kelowna/Victoria are desirable places to live and own real estate, you either accept that or move somewhere less desirable and thus cheaper. You don't have the right to own a home here just because you were born here/live here/work here. You're competing with people that will sacrifice a lot more than you to own property here, maybe you don't see that but it is a fact.

jsytnick wrote:
High cost of living can be avoided by moving to more affordable places. Vancouver/Kelowna/Victoria are desirable places to live and own real estate, you either accept that or move somewhere less desirable and thus cheaper. You don't have the right to own a home here just because you were born here/live here/work here. You're competing with people that will sacrifice a lot more than you to own property here, maybe you don't see that but it is a fact.

Ok, I have no idea why this is such a heated subject with a sea of moderator colours but....
I think some people are missing the point.
Yes everyone could move to cheaper places and live a happy little life, but then who would be doing the low wage jobs?
The jobs that everyone in large cities needs to have filled. The burger flippers, the floor moppers, barista's, the grocery workers and the gas station attendants? Those people need to live in these high priced cities in order to provide these services. It makes absolutely no sense for someone to commute an hour or more on public into a city to make minimum wage. Subsidizing housing in these locations is the only way to get these jobs filled adequately.