Vancouver is in the news yet again for something related to housing. But this time it’s probably not what you’d expect. Because our city has surprisingly been ranked as the best city for young to people buy property in. Say what?
Now we get it, Vancouver is great. But the cost of property here is not affordable to most young people. Unless of course, you have mom and dad’s wallet to back you up. But we’ll cut this study some slack because it was done in the UK by CIA Landlord. And we all know living in the UK certainly isn’t cheap.
Now as you might have guessed, this study looked at factors like job availability, average salary, and overall happiness. So that landed Vancouver as number one and Toronto as number six. And what might surprise you is that Vancouver also ranked second in the 10 most affordable cities for young adults. Which is interesting, to say the least.
As for the rankings themselves, it’s important to note exactly what this means. Property in Vancouver has been appreciating for a long while, and if you happen to able to afford it while you’re young, you’re sitting pretty. If not, well, Vancouver is beautiful and filled with wonderful people, but it sure ain’t cheap.
If you’d like to check out the study you can click here. And if you happen to be young and have some extra cash, buy some property. But if you’re like the rest of us, we’ll hope for some rent reform.