Complaining about high rent

Again to all you people complaining about the cost of rent and how somehow the city (funded by other citizens) should somehow provide you with more affordable rentals. As per the front page of the province this morning. “An international study of 100 cities by Nestpick, a meta search engine, ranks Vancouver with the 44th highest rents in the world.” I have been saging for years people need to stop complaint because vancouver is nothing compared to the rest of the world for rental costs.

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Basic statistics

Nov 15, 2017 at 12:42pm

Housing affordability is expressed in terms of median multiple, which is the ratio between median home sale price and median household income; the higher this ratio, the less affordable the city. As of 2017, the median multiple of Vancouver is the highest in North America, with a value of 17.3, which is worse than New York and San Francisco.

Many areas of New York and San Francisco may well have home prices and rents higher than Vancouver; however, the median income in those cities is greater too.

This is extremely basic and well understood statistics.

bfwer

Nov 15, 2017 at 12:45pm

Why do you believe data provided by "NESTPICK" in a newspaper (with vested interests in RE)? Just because? Did you calculate all the per capita income ratios to rent? Did you vet the data yourself? Did you visit the 43 other cities with higher rents than Vancouver to confirm? Or are you just another amateur quasi-confessor who loves to stick it to peeps living with REAL ridiculous rents in this city? Do you rent?

Anonymous

Nov 15, 2017 at 1:08pm

Please gtfo.

Whining self serving posters like this need to have their dog catch pneumonia before they take notice of reality.

Instead, they sit reading stupid media driven "comparisons" that "prove" many things.

Douchebag.

Anonymous

Nov 15, 2017 at 1:21pm

"The city (funded by other citizens)" currently prevents through zoning restrictions (that only allow single family dwellings in most of the city) the building of affordable rental units. People aren't asking for handouts from other citizens, they are asking that "the city (funded by other citizens)" stop actively trying to prevent them from living in their own city.

Anonymous

Nov 15, 2017 at 1:45pm

STFU, it's the most unaffordable city in North America. We're already getting to the point where retailers struggle to find staff because no one can afford to survive on what they pay.

Mitch

Nov 15, 2017 at 3:14pm

It's just this constant noise...New West is still cheap compared to Vancouver but the hipsters are snobs.

Hi OP

Nov 15, 2017 at 3:21pm

If you read the Sun article, you'd also know that the study you're referring to low-balled Vancouver's rental prices - a lot.

So instead of 44th in the world (which btw in global terms, puts ANY city right near the top), it may be more like 35th or 30th. And on a planet with many hundreds of cities with over a million citizens, that's right near the top!

"...Vancouver is nothing compared to the rest of the world for rental costs." What!? Did you manage to write that with a straight face? Vancouver's on par with London, New York, Sydney etc. Forget about the 'rest of the world', Vancouver is in the major leagues.

The other infuriating thing is that the province and COV created this situation! It was fucking premeditated... greed and political opportunism has forced most of its own citizens out - while favouring overseas immigrants with the funds to move in. Why? Because there's money to be made!!! And politicians, of course, are greedy cunts.

So yes, the city and province, having made this mess in the first place and forced locals out of the loop, should provide the real working-class citizens of Vancouver with more affordable rental options.

OP, do some reading and school up on this.

48 7Rating: +41

Vital details.....

Nov 15, 2017 at 3:33pm

You're missing the most vital detail. That being that the reason Vancouver has been rated the second least affordable city to live in in the world has to do with the disparity between the cost of housing compared to the median incomes. Many other cities have higher housing costs, but the people living in them have higher salaries to afford the cost of housing. Unless companies in the lower mainland start paying employees significantly higher salaries/wages, more and more people will be forced to leave and they will have an extremely difficult time finding qualified staff. This is already happening.

44 6Rating: +38

Anonymous

Nov 15, 2017 at 4:12pm

I've always said it's a third tier city with second tier prices. So yes, the rents aren't comparable to first tier cities but it's still overpriced for what it is.

Pfftt

Nov 15, 2017 at 5:41pm

Did you type that while sitting on your bidet? Because that was a dank dump you just took on us.

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