I recently wrote an article on alternate housing options for the Vancouver Observer. The idea of taking a home, putting in a suite and a laneway and dividing it between 3 parties who are listed as tenants in common on title. The division would be covered by contract. I used an example of a house that could be bought for $1.6m.
It would cost each buyer $700 to get in to that 1/3 section( after renos, costs etc..). I thought I would look back and see how long ago you would have had to buy in to the Real Estate market to get that whole house for $700k.
One example stood out. This put the whole idea that the " price of housing has gone up" into context
A quaint little Dunbar house on W 22 nd sold this month for $1.605m
It had sold in 2005 for $830,000
It had sold in 2002 for $448,000
It had sold in 2000 for $398,000
11 years ago I could have bought 4 of these house for what 1 will cost me today.
My husband works for our National Airline, He makes LESS today then he did 11 years ago. I am sure a huge percentage of our workers are in this same boat. Who says we have little inflation?
This November I have been asked to speak at an alternative housing forum put on by the Real Estate Board's North Shore Division. I really hope that by then, 11 months from now. We have created viable options for people. Going back 11 years isnt going to happen.
It would cost each buyer $700 to get in to that 1/3 section( after renos, costs etc..). I thought I would look back and see how long ago you would have had to buy in to the Real Estate market to get that whole house for $700k.
One example stood out. This put the whole idea that the " price of housing has gone up" into context
A quaint little Dunbar house on W 22 nd sold this month for $1.605m
It had sold in 2005 for $830,000
It had sold in 2002 for $448,000
It had sold in 2000 for $398,000
11 years ago I could have bought 4 of these house for what 1 will cost me today.
My husband works for our National Airline, He makes LESS today then he did 11 years ago. I am sure a huge percentage of our workers are in this same boat. Who says we have little inflation?
This November I have been asked to speak at an alternative housing forum put on by the Real Estate Board's North Shore Division. I really hope that by then, 11 months from now. We have created viable options for people. Going back 11 years isnt going to happen.
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