A Rationale for Vancouver Home Affordability
Posted May 20th, 2012 in Real Estate, Sharing the Experience | 
Thoughts
Usually I try to provide a commentary summation at the end of my posts. However, as I look around and see those who struggle to buy or keep their Vancouver home this previously banned ‘TED Talk’ by Nick Hanauer left me with these thought from the beginning.
As TED proclaims, “ideas are worth spreading”.
If it is a fair assumption to conclude that the sustainability of the current and future Vancouver real estate market is predicated on affordability then the rationale discussed in this video points to a number of reasons why current and future Vancouver home buyers may be losing hope!
TED Talk – Nic Hanauer
Last, if you think this ‘idea is worth spreading’, do so by clicking the share button.
Logo Courtesy of TED|Talks
Finally somebody that “gets it”!
What has always made the difference between a developed country and a developing country is the size of its middle class. The middle class shrinking, as it currently happens in North America, means that we are on our way to become developing countries… again!
Thanks for posting this, Larry. I had not seen it and will definitely share it.
I have quietly been growing more astonished that over the past 18 or so months our middle class Vanc family has increasingly been unable to meet our monthly budget. Gas, food, tenant insurance, utilities, donation requests (school computers, playground equipment, classroom supplies!) and fees for services (think kids programs/care) have risen while income remains the same. Our investments barely keep up with inflation. I have cut back on all extra spending. As noted in the video, this will not ultimately help the economy.
My stomach turns when I hear housing experts like Rennie and Somerville justifying the current Vancouver housing market and providing listeners/readers with a blueprint on how they can/should get into the market The opening sentence in the TED video says it all: “It is astounding how significantly one idea can shape a society and its policies.” Critical thinking skills are essential to survive in our current North American culture.
I too believe it’s time for new ideas and I just heard about a place to submit them:
Re:Think Housing, An Open Ideas Competition
http://vancouver.ca/housing/rethink/index.htm
How about:
-limit donations to political parties from any one sector
http://vreaa.wordpress.com/2011/03/01/52-backed-by-real-estate-analysis-of-contributions-to-campaign-of-christy-clark-new-leader-of-the-bc-liberals/
-eliminate the CMHC and let the banks assume the risk of all their loans (they reap all the benefits)
-tax capital gains for property speculators at a higher rate (more than one home sale per 5 years)
Policy changes are needed. Wouldn’t it be novel if they benefitted all Canadians?
…”our current North American culture”?
Don’t lump US with THEM. Please.
@Boombust
You’re right….we don’t have things like street riots and such here…
@talker
just tea parties
Hey!
I have been to practically every state in the United States as well as every Canadian province.
I know what the word “culture” means, and it doesn’t mention “riots” as a past-time.
If you’re fond of the American way of life, emigrate!