2 brdm, 2 bathroom condos next to this lake selling for less than $70K in Chandler, AZ
For as long as anyone can remember, Vancouver and its city politicians have strived to make our city number one in the world. Unfortunately, those efforts to make us the greenest, cleanest, safest and most desirable place to live have triggered a few unintended consequences.
According to the Eighth-Annual Demographia International Housing Affordability Survey, Vancouver is the second least affordable place to live amongst the largest English-speaking cities in the world. We have now surpassed Sydney, Australia and only trail Hong Kong for top spot. But housing isn’t the only thing that’s slowly becoming out of reach for local residents.
In you want to get a better picture of just how expensive Vancouver has become, you need to take a short flight down to Phoenix, Arizona to get some perspective.
When our family decided to purchase an investment property down there, we simply couldn’t believe what we could find. We were easily able to locate a nice two-bedroom, two-bathroom condo next to a private lake with all the amenities for well less than $70,000. Not only was the price of the home unbelievably low; so too are the monthly strata fees and residential property taxes.
During our recent visit to the condo last month, we decided to have a family night out and see a Phoenix Suns basketball game. We purchased three tickets along with three meals, a glass of beer and surface parking located only 150 feet from the entrance of the US Airways Arena.
Our night on the town cost us the grand sum of $81 dollars. Now can you imagine doing a similar family-friendly event for anything less than $200 in Vancouver? Not a chance.
But our lack of affordability doesn’t end with high housing prices and costly Canucks tickets. A range of other goods and services are more expensive here than in most other cities.
For example, if you want to park your car on a public street in downtown Vancouver, city meters will ding you up to $6 per hour. Some downtown parkades are even gouging customers by charging them $25 for all-day or special event parking in the evening.
If you want to fill up your gas tank in Vancouver, you better get ready to pay the highest pump prices of any major city in Canada. And that’s before another tax increase will be tacked on in a few months to help pay for the new Evergreen Line.
While Demographia’s housing survey results may come as little surprise to most Vancouverites, they are another stark reminder of the costly downsides to living in paradise.
– Post by Daniel. Originally published in 24 Hours Vancouver.