In 1950’s Vancouver was a port city. From that time onwards a lot of families started moving in that place. A lot of couples remained indoors as long as possible. Vancouver was on the west side and the house charges during that time was between 15000$ to 20000$. In 1967 the prices nearly rose up to 36000$ for houses near university of British Columbia endowment. During the 1970’s the prices grew further. This was the time when Hong Kong was trying to change into Chinese communist ownership and most of the Asian capital was trying to move to Vancouver.
In 1982 prices of the houses in Calgary went down along with the oil prices. During this time no one in Calgary could think of a house as a form of investment. Therefore Vancouver was a better choice when it came to houses but definitely not lifestyle. Vancouver only had a few head offices. It was more provincial. It was heavily going down in fisheries, mining and forestry. Compared to housing, the money was always tight.
Vancouver had a lot of real estate appreciation where as Calgary had good lifestyles. By the 1990’s living in Vancouver became very difficult because of the house prices. In 2006 the same places that did cost 15000$ in Vancouver, almost became 2 million dollars ranging up to 6 million dollars. A lot of empty houses were found that time which were taken up as emergency residing places for Asian immigrants.
Vancouver now suffers in between the pleasures of a few rich people and the stark reality of the rest of the population. Most of the people cannot afford good houses. Hence the lifestyle remains poor. A few purchase solutions are found now like living in condos. This is cheaper but as most of the people are going for it, the density of the city is increasing. The second offer is that long work commutes are given on the sky trains which is very expensive. Low mortgage rates on assets are given over extensions. Starting with a young family is really very difficult here. It is hard to imagine one without any sort of parental help. The down payments are very high.
Vancouver now has become a very posh place with streets filled with BMW’s and range rovers. Yet the lifestyle of the middle class really suffers. Therefore we can see the ups and down in the life of the people living in Vancouver. The class difference is therefore highlighted.
Justin is an experienced content writer provides finance management tips to solve all your financial problems in business. Read more articles related with platinum business travel card and Credit card scams.