The Decline of Vancouver.

This is going to end badly…,

Millennials fleeing Vancouver for cities with more affordable housing, threatening city’s tech economy
http://business.financialpost.com/personal-finance/mortgages-real-estate/millennials-fleeing-vancouver-for-cities-with-more-affordable-housing-threatening-citys-tech-economy

It's only a matter of time before Vancouver becomes a ghost town where the only people who live here are rich foreigners who don't work here and/or are only here for a portion of the year. We're pretty much already half way there…

We have sown the seeds of our demise.

Maybe its pessimistic, but I doubt a reversal is possible.

The shame of it is the adverse impact on the remainder of BC.

Millennials fleeing Vancouver for cities with more affordable housing, threatening city’s tech economy
http://business.financialpost.com/personal-finance/mortgages-real-estate/millennials-fleeing-vancouver-for-cities-with-more-affordable-housing-threatening-citys-tech-economy

Yet, they are not fleeing the actual Silicon Valley. Vancouver is obviously expensive, but I think the low salaries are just as much to blame if people are leaving. I have no idea what the answer is to that either, but it has been an issue for as long as I can remember.

Yet, they are not fleeing the actual Silicon Valley. Vancouver is obviously expensive, but I think the low salaries are just as much to blame if people are leaving. I have no idea what the answer is to that either, but it has been an issue for as long as I can remember.

Low salaries is just a function of the supply and demand for labour in the area. There are a lot of people who want to live here and not very many big companies that have head offices here. High supply of labour + low demand for it = crappy salaries.

In theory, if working people do continue to leave Vancouver this should drive up the salaries a bit but definitely no where close to making it affordable for your average working person to be able to buy a house for their family close to the city.

I think Vancouver is doomed longer term…

We have sown the seeds of our demise.

Maybe its pessimistic, but I doubt a reversal is possible.

The shame of it is the adverse impact on the remainder of BC.

Hopefully us feeling the pinch will migrate to other places in BC and cause other cities to flourish and grow in economy…i want to be part of that.

Then build a Trump wall around it lol…

It's only a matter of time before Vancouver becomes a ghost town where the only people who live here are rich foreigners who don't work here and/or are only here for a portion of the year. We're pretty much already half way there…

It has just turned into a playground for the wealthy. All that will be left is retail and restaurants, a shiny resort town.
Vancouver lost its soul a while back. Sold it so to speak.

Low salaries is just a function of the supply and demand for labour in the area. There are a lot of people who want to live here and not very many big companies that have head offices here. High supply of labour + low demand for it = crappy salaries.

In theory, if working people do continue to leave Vancouver this should drive up the salaries a bit but definitely no where close to making it affordable for your average working person to be able to buy a house for their family close to the city.

I think Vancouver is doomed longer term…

I understand that is how the labour market works but there is more to it than that. You mention head offices for example. Vancouver doesn't have many and those alone can drive up wages. Vancouver is a medium sized city, so it is not something that I think will change in the near future. For Vancouver to become a place to make money, it needs to become a hub of an industry and not just plan B like we are for the film industry. I like our chances in tech, just maybe not software or web based companies which is what that article is focused on. We have a few very innovative tech companies in the Lower Mainland and hopefully they grow here.

There will always be average working people in Vancouver. Losing the small talent pool in tech is the current concern, not losing teachers and bus drivers.

I am actually bullish on Vancouver. Climate change is going to be a major upset for a lot of North American cities and having an abundant water supply just might make this place affordable again comparatively.

You mention head offices for example. Vancouver doesn't have many and those alone can drive up wages.

Anyone want to cross reference this list with size?

https://en.wikipedia.org/wiki/Category:Companies_based_in_Vancouver

I am actually bullish on Vancouver. Climate change is going to be a major upset for a lot of North American cities and having an abundant water supply just might make this place affordable again comparatively.

I'll just leave this here:

http://www.cbc.ca/news/canada/british-columbia/water-restrictions-metro-vancouver-early-2016-1.3393507

Anyone want to cross reference this list with size?

https://en.wikipedia.org/wiki/Category:Companies_based_in_Vancouver

A Moncton University study shows that of the 234 companies listed on the S[HTML_REMOVED]P/TSX Composite Index that maintain their corporate headquarters in Canada, 82 (35%) are located in Ontario and 79 (33.9%) are in Alberta; Quebec (32 or 13.7%) and British Columbia (28 or 12%) are the third and fourth most popular locations.

http://business.financialpost.com/news/fp-street/toronto-has-less-influence-now-how-canadian-corporate-power-is-making-a-big-shift-westward

Granted that was 2014, and the magnitude of mining companies in BC has gone down in terms of market capitalization since.

We have the opportunity to become the best at catering to the needs of the young aristocracy.

It would be uncouthe to mention that that transcendence was built on the backs of hundreds or thousands of dead workers, so I won't.

I do not think this is a decline of Vancouver; but rather an incline. I think that those who think otherwise fail to see the possibility of future growth of Vancouver, or any other city experiencing the same issue of un-affordable housing.

On the most basic note, let's face it - Vancouver's economic competency sucks. We lack the population for one thing, and our work ethics stink - walk along English Bay on a mid-summer week to get a glimpse of how many beach bums there are.

Yea sure, we have talent in all areas of science and technology, but compare the work hours in Silicon Valley, or China, their clock at 8PM is the same at the office here at 2PM. We simply don't have a source of revenue generator other than selling valuable resources, or best of all, whoring off our land.

The culture of Vancouver will decline, but Vancouver in itself will not. I think this city will eventually become nothing more but an expensive playground for the rich and the city will grow in itself in new ways; whether it may be opening doors for rich immigrants, building more oil pipe lines, or … whatever.

All in all, things change and Vancouver will naturally take its course whether it'd be good or bad for you. But one thing's for sure, the rich gets richer, and poor get poorer. Buy a place now before you fall into the latter category.

The culture of Vancouver will decline, but Vancouver in itself will not. I think this city will eventually become nothing more but an expensive playground for the rich and the city will grow in itself in new ways; whether it may be opening doors for rich immigrants, building more oil pipe lines, or … whatever.

So Vancouver becoming an expensive playground for the rich is a decline for the culture of Vancouver but an incline for Vancouver overall….? So 10 years down the road when all the families, young people, etc. leave Vancouver and 90% of the residents are rich foreigners who only live here for a portion of the year, don't work here, etc. Vancouver is somehow going to be better off? I don't get it…