Quote:
Originally Posted by WarrenC12
So what changed?
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Probably immigration policies for the US and the fact that the economy seems to be recovering from a near recession. Also Horgan has pulled back.
Quote:
Originally Posted by whatnext
If I was a shareholder in these companies, I'd be wondering why they are choosing very expensive jurisdictions to locate their offices.
I also wonder where all these prospective new hires are coming from. Unless they're in the Lower Mainland now, or in San Francisco, they're going to get a nasty shock as to how expensive housing is and how little you get for your money in Vancouver.
The sudden explosion of these jobs seems very much like 1999, or Tech Bubble 2.0
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I agree with you except for the housing price shock. Vancouver's rents are lower than many places. There not even close to the 5%+ you'd normally expect. And our housing costs are much lower than Tokyo, Shanghai, Beijing, HK, Singapore, London, etc. Housing is only expensive if you go by median income. Vancouver's median income is really low, much lower than Surrey's. (65k Vancouver, 77.5k Surrey, 92.3k Delta, 86k Maple Ridge, 72.6k Metro Vancouver, etc.). That whole downtown east side drastically drops our average.
http://www.metrovancouver.org/services/r...dMedianHouseholdIncomebyMunicipality.pdf
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