Moving to Canada, Need some Advice

Ttt

 

Alberta is still hiring in Agriculture.

 

http://globalnews.ca/news/2564231/b-c-s-stellar-economy-to-attract-wave-or-workers-this-year-report/

 

I worry about BC's residential market. I have family in the fraser valley that are paying through the nose to rent a dump of a property. While all of the investment speculation from overseas may be driving the market for the next few years I can't see how that trend can continue with the global economy in recession.

The interesting thing will be to see what happens when the correction comes.

I didn't know that BC had much of shipbuilding industry left. I thought most of that was centered in eastern Canada.

It looks like BC only has one of the shipyards named in the program and that yard can only handle building one major ship at a time. It'd be interesting to know how much of the economic spinoff BC is actually going to see.

 

Well the Lower Mainland doesn't constitute all of the BC housing market

 

True.

Funny story. One of the people I work with at my new job has property in the Okanogan. He's selling it over the issues he's had their with the people in the community and will probably buy something around Canmore. While the weather and attractions around the Okanogan are great the "indigenous BC folk" people are terrible. He spent most of last summer trying to level out his backyard so he could use it for entertaining. Apparently the folk in that area don't like all of the Albertans that have invested in property in the area. While he was gone back to Alberta his volunteer firefighter neighbour rigged up a hose to a fire hydrant and ran it into his own yard, which is upslope from my coworkers place. This "loyal BC militiaman", I can't think of another term for him that wouldn't be insulting, flooded out his packed and leveled yard destroying thousands of dollar of work the week before the concrete was to be poured for the retaining walls because he didn't like where a guy came from IN CANADA. What a joke.

Apparently this wasn't the only time someone did something like that either. When they had done the repairs, and btw the local cops did nothing about what said neighbour did, and were ready to pour concrete again another neighbour intentionally parked his 30 foot RV in front of my coworkers driveway so the cement truck couldn't get in . The cops wouldn't move it for 72 hours even though this guy was paying BY THE HOUR for concrete to be poured.

BTW we all found this hilarious at lunch last week after a meeting as this guy was ranting and raving about his BC neighbours. It sounded exactly like the pipeline issues and I don't doubt BC'ers have that same "not in my backyard" approach to any development they don't agree with and would think those acts were justified, even if it's been approved though the proper channels...

Back to the main point though the communities of the Fraser Valley really do drive the realestate values in BC. Area's like Cranbrook, Revelstoke, Fernie, Nelson, and the Okanogan (I missed a pile of other communities in those area's but you get the jist of it) are dependent on tourism dollars that rise and fall with the global economy. With the global economy looking fairly bleak this year I doubt those dollars will be flowing readily. Only the Fraser valley has any sort of economy based on anything other than minor resource collection or tourism. That area's pricing is directly effected by the investment community internationally which has bought up and developed properties at a rate that is top 3 in the world. That's not sustainable off a minor ship building contract and a natural gas terminal. None of those workers will be buying any property in that area. It's worth 10x their income in a year at least. BC is going to have to have a bubble bursting correction in that area at some point and it will be felt throughout the province. I, for one, wouldn't want to live there on the premise that things will be rosey for the next decade because I suspect things will crash out there within the next 5 years in construction and housing when the market adjusts itself.

 

TLDR

 

He said your houses are overpriced and no one can afford them.

 

No one

Thats why everybody in BC is homeless I guess

 

Most people are renting. Here's the common story :

http://blogs.theprovince.com/2016/0...tro-vancouver-the-choice-isnt-always-obvious/

The average house cost in the area... 1.13 million. That's just pocket change for a worker right OZ?

BTW notice this person had over 300K cash in hand yet ended up becoming a renter. How is someone working construction after leaving the patch going to come up with even that amount of money when less than a third of people have even 10K in there bank account right now.

 

Like I said before , the Lower Mainland and Vancouver in particular does not constitute the " BC housing market "

For example I own my house , I guess I must be a multi millionaire

 

You're missing what I'm trying to say. Is your area economically surging in a way that would attract an immigrant from Alberta? No. So who cares if your housing prices a decent because you are out of the commuting range for those incoming workers who will likely end up in the Fraser Valley. They will need housing there, not on Vancouver Island.

 

To get technical you have said many times that you own your own home and property that it's on outright. You've also said to buy out your neighbour would cost a million. So... yeah you would be a millionaire if you look at your net asset statement based on those facts you have spread around.

 

My area is growing as far as construction is concerned , as is a lot of Vancouver Island

but hey , whatever

 

Yes, but what kind of growth? Is it retirees like usual? Honest question here. What's driving Vancouver Island other than the same sort of people who move to Florida?

Right there is the problem. Retiree growth is only sustainable to a certain level. Those people also happen to be more price conscious if there savings have taken a blow in the markets.

 

I'm not sure what point you're trying to prove here , the report I linked said the BC economy as a whole is booming and has been for a year , drawing workers in from Alberta and the rest of Canada , what is driving the expansion is meaningless to a degree , who cares ? If there's work , people get to work .

There is no problem with that . Saying people " can't afford housing in BC because Vancouver housing prices are crazy " is like saying somebody can't afford housing in Ontario because Toronto prices are crazy .

Of the two examples in that article , the ship building contract and the Petronas LNG plant , only one of them , the ship buildng is based in the Lower Mainland area and that contract is also subbed out to other shipyards including on Vancouver Island at the Nanaimo Shipyard , and the Petronas plant is in Prince Rupert which is nowhere near the Lower Mainland .

Anyway I'm done , I got work to do

 

Bye.

I thought the point of this thread was moving to Canada and finding good work, and my point was that it would be difficult to do so without moving into the lower mainland in BC which comes with some crazy costs that have to correct at some point which could stifle the local economy, but whateves.

 

You see what I did there

and the OP can't likely work in Canada anyway , see my first link

 

on part 1. I've been working from my computer all morning. I secured a large order for a coworker and finished a presentation that I will go give tonight to a group of people for work. I assumed you were being just a productive. As for part 2 this is all hypothetical anyways and was never an argument, I'm sorry my conversation upset you if that's the way you felt.

 

I'm never upset rarely