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The article reminds me of a real estate agent in Miami, who on the radio called the apartments out there "apartment-shaped financial instruments." (In Vancouver
by allochthon 12y ago
The article reminds me of a real estate agent in Miami, who on the radio called the apartments out there "apartment-shaped financial instruments." (In Vancouver, apparently, they are detached homes.) This seems to be a recurring theme in certain cities, e.g., Vancouver, San Francisco, London, New York.
- msie 12y agoSomehow the people of Vancouver think they can avoid the fate of those other cities.
- curiously 12y agoEspecially when they say, 'oh but our banking and financial system is sound' without any knowledge of the subject.
- eigenvector 12y agoThe difference between Vancouver and SF/London/NYC is that it has no accompanying income boom to make the real estate prices affordable for working people. There's no significant financial or tech industry. Nobody gets rich from working in Vancouver. In fact, Vancouver tech jobs generally pay _less_ than other Canadian cities despite the greatly higher cost of living.
- msie 12y agoVancouver firms can offer less pay because there aren't many alternatives when it comes to Canadian cities for a tech worker. Let's see...Toronto, Montreal, Waterloo and Calgary. And the winter weather east of the Rockies is horrible.
- eigenvector 12y agoI agree, as the only Canadian city west of the Rockies Vancouver employers seem to think they don't need to compete with Toronto/Montreal/Calgary pay. And to a certain extent they're right. But with more and more US firms hiring Canadians on TN visas, the new competition is Seattle/SF.
- F_J_H 12y agoVictoria?