http://www.francesbula.com/uncategorize ... -for-city/
6 Glissando Remmy // Jan 9, 2010 at 12:00 am
The Nuts Thought of the Day
“I think everyone that lives in Vancouver deserves to be as mad as Hell. http://www.youtube.com/watch?v=dib2-HBsF08
We have no politicians (we have old age Pinocchio’s in suits), we have no MSM (we have a deaf drummer boy in the square) and we have no real future (unless we consider gambling and grow-ops as healthy goals). What we do have, however, is a very colourful, glossy and so very real, treasure map to self-destruction”
Average Vancouver Condo C$350,000.00
-15% down payment C$52,500.00
30 year Mortgage C$297,500 @ 5.7% (Bank, CU)
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Monthly mortgage payments C$1,712.58
Monthly municipal taxes C$125.00
Monthly strata fees C$250.00
Gross monthly payments C$2,337.58
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Monthly income @ 30% payments (CHMC) C$7,123.74
So, to buy in Vancouver, according to CMHC’s ideal figures, a family income of C$85,000+/- will get you one bedroom, a view of other high rises, posh neighbours . . . provided your partner has a good job!
This is ridiculous. Vancouver does not have a wealth generating base to justify this!
