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Just to take nationalism out of it; would you feel just as screwed if they were rich banker? You don't own that land and you can't use it unless it's literally
by DickingAround 11y ago
Just to take nationalism out of it; would you feel just as screwed if they were rich banker? You don't own that land and you can't use it unless it's literally a friend of yours. So what is the actual impact? Just the language on the signs?
Interestingly this is a bit of an exceptional case; it being a bubble and all you actually have leverage. The interesting thing about real-estate is that it's not like factories; the land doesn't itself produce value. If the people of Vancouver leave and it's nothing but investment property those prices will go down. Once they begin going down, it'll be a bad investment and they'll come down a lot (pretty common bubble situation). So if you think the market put the wrong price on those houses, just don't pay it and leave. Plenty of other good cities out there.
- darryl42 11y agoEven rich bankers are probably priced out of the market when "the average price of a single-family detached home in Vancouver at $2.5-million" http://www.theglobeandmail.com/news/investigations/questionable-tactics-encourage-bc-homebuyers-to-avoid-taxes/article28758483/ http://www.theglobeandmail.com/news/investigations/questiona...
- Lawtonfogle 11y agoI can get the sentimental value of not wanting to leave your home, but why should anyone else care? There are plenty of other places out there to live that are far cheaper. Full disclosure: I grew up on a farm in the middle of nowhere and have never lived in a large city.
- zhemao 11y agoYeah, but is it easy to find jobs in those places? Most economic activity happens in the big cities, so most people will want to live close to those cities in order to be in a reasonable commuting distance from work. Of course, you could do remote work. But those kinds of jobs are not yet the norm. Plus, a lot of jobs require daily face-to-face interaction with clients, coworkers, or higher-ups.
- Lawtonfogle 11y agoIf you are decent at IT you can find jobs. I know I've never had issues. They don't pay as much, but when you adjust for the price of living you can often end up with a better life style.
- tropo 11y agoYou have things backwards. To "be in a reasonable commuting distance from work" you must stay far from those cities. Well, assuming you want a family. Commuting into SF from some place in the central valley is not reasonable. Pick the middle of Florida's east coast though, and you could afford a big house (perhaps half acre, 4 bedroom) within a mile of work. Yes, there are jobs.
- DickingAround 11y agoIs there a reason why people downvoted this? It'd be nice to get feedback on why people thought it was not helpful or constructive.