Re-posted from an article in the GlobeandMail.com:
“Buying a Vancouver house is not even close to affordable for us,” said Mr. Kebede, 28, a graduate student who rents a two-bedroom suite with his brother for a total of $1,300 a month. Mr. Kebede, Ms. McDonald and Mr. Thomas are each renting modest places on the East side, where accommodation is more affordable than on the West side.
The three friends want to stay in Vancouver, but don’t want to buy condos. All three have university degrees, and while they might one day land jobs with decent salaries, they have already shifted their attention to some form of communal living or other shared accommodation while they wait for a chance to buy into Vancouver’s real estate market.
Their situation highlights an important shift in attitude that is being felt in Vancouver and to a lesser degree in other parts of Canada.
You can read the entire article here.