Vancouver housing is expensive and always has been!

I loved this article and had to share it! It's from the BC Business website. Original link below! 

 

Vancouver has a long history of pricey housing, especially since the Second World War, and an equally long history of speculation about causes and potential solutions. In 1949, the Vancouver Housing Association noted, “There is a widespread illusion that with the rise in incomes, home ownership is possible for almost everybody. The facts are that owing to a still greater rise in building costs, fewer people can afford to build now than before the war.”

 

By the 1960s, the chairman of the Vancouver housing committee was recommending smaller lots or row housing to address affordability, while the Greater Vancouver Real Estate Board touted infill housing in 1976 to ease the high cost of single family homes. Just a year earlier, the United Way of Greater Vancouver was blaming municipal red tape for the skyrocketing cost of housing.

 

The Canadian Real Estate Association first started tracking housing market statistics in 1980, and since that time Vancouver real estate has been the priciest in the country—apart from a period in the late ’80s when Toronto briefly pulled ahead (see graph below). Ever since, however, Vancouver has been in a league of its own—with prices spiralling upward to increasingly dizzying heights. This year appeared to follow that trend—at least until the province muddied the waters with a foreign buyer’s tax in June 2016. Whatever that tax’s impact, there’s little doubt that talk about “our crazy market” will continue for many years to come.

 

What people have been saying throughout the decades...

 

THE '80s

 

“People should not think single family home ownership is a right and ... a young couple should not expect their first home to be like the one their parents had.” –Vancouver Sun, April 2, 1981

 

“Real estate is expensive because land is scarce around the city and because ‘Vancouver is the California of Canada,’ says Carl Nielsen, president of Block Brothers Realty Ltd.” –The Gazette, June 12, 1985

 

“Real estate analysts attribute the current housing boom to B.C.’s strong economy and to growing interest from offshore buyers.” –Vancouver Sun, January 5, 1989

 

THE '90s

 

“Vancouver has the highest cost of housing in Canada, after three years of rapid increases that pushed the price in several working-class neighbourhoods beyond the reach of many new home buyers.” –Globe and Mail, August 12, 1993

 

“Colossal increases in the price of average-sized lots have made many new houses unaffordable for average homeowners.” –Vancouver Sun, May 4, 1996

 

“Vancouver continued to be the most expensive city in Canada for house buyers last year despite steep price declines.” –Globe and Mail, January 5, 1999

 

THE 2000s

 

“The cost of housing in Vancouver, already the highest in Canada, is predicted to climb still higher, an RBC report says today.... Not only is the city’s housing the least affordable of any major Canadian city, it’s the least affordable it has been in more than five years.” –Vancouver Sun, November 18, 2004

 

“The buzz leading up to the 2010 Winter Olympics will continue to drive up housing prices in Vancouver next year, Royal LePage said yesterday in a new market survey.” –The Province, December 18, 2007

 

THE 2010s

 

“[I]n Vancouver, the country’s priciest market, as in other ‘globalized’ markets like Sydney and Hong Kong, Asian wealth is coming in as investors diversify and look for hard assets, fuelling valuations that in some cases are ‘extreme.’” –Globe and Mail, June 16, 2011

 

“Soaring housing prices have squeezed out a generation of young buyers from ever owning a place with a front lawn and backyard.” –Globe and Mail, June 3, 2015

 

Original & Full Article from BC Business link : HERE 

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Tri-City Neighbourhood Profile: Pitt Meadows

 

Those that grew up closer to Vancouver or in Vancouver think Pitt Meadows is extremely far way, when in actuality it is quite close. With the newer Pitt River bridge it's a breeze to commute from downtown Vancouver into Pitt Meadows.

 

Pitt Meadows is located just across the Pitt River bridge, its a small yet strong community. There are people of all ages, and all walks of life living there. From condos to homes with acreage there is something for everyone within your budget. There are many growing families in this quiet city due to the fact that their are so many schools within walking distance, parks, bike trails, and activities at your door step. This city has a huge sense of community. Neighbours watch out for neighbours, kids still play in the streets, and the community comes together a few times a year to celebrate days such as Pitt Meadows Day! Pitt Meadows Day is a parade that comes down Harris Road (the main drag) at the beginning of the every summer. It's a way for the people of Pitt Meadows and some people from Maple Ridge to support those working in the community and have a few laughs at the firemen dressed up like clowns. Don't miss the Pancake breakfast and BBQ dinner put on by the Lions Club and the Firefighters.

 

Parts of Pitt Meadows to keep your eye on - Osprey Village, Somerset, Farmlands, and South Bonson. If your in the market for a house, keep your eyes open for the Bonson area (has many newer homes) or Somerset for the older yet well-kept neighbourhood. The homeowners in Pitt Meadows take pride in their homes and you can tell just by taking a drive down one of the many residential streets. 

 

Best places to eat in Pitt Meadows:

 

1.) Lunch Doctor - Only open Tuesday-Saturday until 4pm but the best homemade sandwiches and soups in the city. 

2.) Artista Pizza - BEST Napolitana style pizza made in a wood overn. 

3.) The Other Guys Pizza & Pasta - Their pastas are handmade and the pizzas have this delectable meat sauce instead of plain tomato sauce. 

4.) Kabuki Sushi - Inexpensive and very good sushi in the tri-cities.

5.) Jolly Coachman Pub - You can't go wrong with this pub. It's where all the locals of Pitt Meadows hang out 90% of the time. Meet your neighbours and new friends while enjoying their daily specials that you cannot resist. 

6.) Eat at one of the many golf clubs: Swaneset, Golden Eagle, Pitt Meadows Golf Club, Meadow Garden. 

7.) The many fruit stands set up in the summertime.

8.) Hopcott Meats - great food, takeaway lunches/dinner and great BBQ'ing meat.

 

What to do in Pitt Meadows:


- Walk the Dykes

- Walk along the Fraser River

- Stroll through Osprey Village

- Take your dog to the two large dog parks (Hoffman Park and North Bonson)

- Check out a $4.75 movie at Hollywood 3 Cinemas 

- Take flying lessons at the Pitt Meadows Airport

- Take a helicopter ride at Sky Helicopters 

- Sky drive! 

- Golf at one of the 4 golf clubs. 

- Pick fresh fruit in the summer at the various farms

- or just head to Winners/Homesense to do some shopping!

 

I can't say enough about this community. There is a facebook group once you move to Pitt Meadows that notifies you about everything going on in the community (good or bad). It's a great resource to stay informed. 

 

Detached home in Pitt Meadows range from $615,000 - $2,200,000. Attached homes range from $250,000 - $550,000. It has a price range that fits most buyers budgets. 

 

If you want to know more information about Pitt Meadows, feel free to check out the video on my website: 

http://taramatthews.com/neighbourhoods.html

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