database comparing cost of living between 2 selected cities

[John.St]

Well that explains it. Your situation - low rent unchanged for two years - is unusual. Low cost of living in Mendoza province. I could say the same thing if I were renting a beautiful house with a fabulous view from a friend in West Virginia. Cheap rent and low cost of living in a less populated part of the US. And I might even be in a college town with a lot of activity.

Why do I get a feeling you have never been to 850,000 inhabitants, 5 universities (U. de Cuyo is large), 4 milongas/week, 2 fiestas/week, Month of Tango, Month of flamenco, 100,000 trees lining all the streets, 1,200+ bodegas (wineries), etc. etc.-Mendoza?

 

[syngirl]

Just reading yet another article on the ridiculous nature of the Vancouver real estate market. All of you complaining about NYC / London have nothing to complain about compared to Vancouverites.

"Demographia, a property-affordability survey published by Illinois-based consultant Wendell Cox, estimates that median real-estate prices in Vancouver are 9.5 times median household income. Only Hong Kong and Sydney are less affordable by that measure. (New York comes in at 5.1.)"

So stop your complaining people....

The article references Demographia -- http://www.demographia.com/dhi.pdf

You'll see NYC doesn't even crack the top 10 -- I think it was placed at no. 15. Unfortunately BA doesn't even figure in the study.

For anyone interested, here's the article talking about Vancouver:
http://online.wsj.com/article/SB10001424052702304563104576357373661248928.html

And just for those of you that want to have some fun, have a look and see what your 1 million bucks is buying you these days in Vancouver (short answer = a piece of crap!): http://crackhouseormansion.com/

(Vancouver is the largest city in a province with a marijuana industry that rakes in over 7 billion dollars a year -- crackhouse is actually an inappropriate term -- it should be growhouse. Most of the real estate market action is being driven by 1) super rich Chinese investors and 2) drug dealers laundering their money / investing in growhouses.)

 

[citygirl]

Hey Syngirl - how easy/difficult is it to get mortgages in Vancouver/Canada in general? Apropos of nothing, just curious really.

I've always thought that while the prices are really low for houses here, the lack of mortgages made it much more difficult to purchase than in say, the US. NYC is the most difficult as far as cities in the US b/c with co-ops, you usually have to put 25% down and then have another 20-25% in liquid assets in the bank in order to purchase.

No idea on Canada and am curious about it there

 

[PhilipDT]

Well that explains it. Your situation - low rent unchanged for two years - is unusual. Low cost of living in Mendoza province. I could say the same thing if I were renting a beautiful house with a fabulous view from a friend in West Virginia. Cheap rent and low cost of living in a less populated part of the US. And I might even be in a college town with a lot of activity.

West virginia, maybe.

A beuatiful home with a fabulous view in napa on the other hand....

 

[Ries]

Mortgages are certainly available in Vancouver, but the real estate market there is currently being driven by mainland chinese, who pay cash, all the while marvelling at how cheap the houses are compared to Shanghai or Bejing.

No joke.

Cash. For 2 million dollar houses in Kerrisdale.

I have a bunch of friends who live in Strathcona, a downtown neighborhood of tiny houses, which sell for $800,000 and up, and all have alarm systems, as the prowling junkies will break in and steal anything they can get from houses and cars, otherwise.

On the other hand, the food in Vancouver is amazing- great sushi, indian food, chinese, korean, vietnamese, and much more, and its cheap- most of it is cheaper than the same thing would be in BsAs. Certainly, you CAN pay $100 or $200 per person for a meal in Vancouver, especially with wine, but there is a lot of really good cheap ethnic food as well.

 

[gouchobob]

Mortgages are certainly available in Vancouver, but the real estate market there is currently being driven by mainland chinese, who pay cash, all the while marvelling at how cheap the houses are compared to Shanghai or Bejing.

No joke.

Cash. For 2 million dollar houses in Kerrisdale.

I have a bunch of friends who live in Strathcona, a downtown neighborhood of tiny houses, which sell for $800,000 and up, and all have alarm systems, as the prowling junkies will break in and steal anything they can get from houses and cars, otherwise.

On the other hand, the food in Vancouver is amazing- great sushi, indian food, chinese, korean, vietnamese, and much more, and its cheap- most of it is cheaper than the same thing would be in BsAs. Certainly, you CAN pay $100 or $200 per person for a meal in Vancouver, especially with wine, but there is a lot of really good cheap ethnic food as well.

I would add that Vancouver is probably the most overpriced real estate market in the world, certainly in North America.

 

[PhilipDT]

http://www.crackshackormansion.com/

Seemed relevant.

 

[Jvanka]

$1,700 pesos for a house is a very low rent in BA. I don't know any expat paying a house rent like that. My expensas on a not very big flat are around 1,300 pesos a month. Either you have a very good deal or Mendoza is a LOT cheaper than BA. Anyway I can not speak for Mendoza. I was talking about BA. Comparing it to the US (was that your comparison?) is also relative. A very nice home in West Virginia in or near a college town and a view of beautiful mountains might very well cost the same that you are paying in Mendoza.

ok, that is for renting, what about ownership? and utilities? It appears to me that many people have "selective budgeting" omitting what is beneficial of this economy (or any other similar like this one). Also, the database compare prices for people making money with a similar income as in the US or Europe. Doesn't count local incomes. Many of expats are abroad because this benefit, stretching your home (us/europe) retirement money, investments...

 

[Jvanka]

Just reading yet another article on the ridiculous nature of the Vancouver real estate market. All of you complaining about NYC / London have nothing to complain about compared to Vancouverites.

"Demographia, a property-affordability survey published by Illinois-based consultant Wendell Cox, estimates that median real-estate prices in Vancouver are 9.5 times median household income. Only Hong Kong and Sydney are less affordable by that measure. (New York comes in at 5.1.)"

So stop your complaining people....

The article references Demographia -- http://www.demographia.com/dhi.pdf

You'll see NYC doesn't even crack the top 10 -- I think it was placed at no. 15. Unfortunately BA doesn't even figure in the study.

For anyone interested, here's the article talking about Vancouver:
http://online.wsj.com/article/SB10001424052702304563104576357373661248928.html

And just for those of you that want to have some fun, have a look and see what your 1 million bucks is buying you these days in Vancouver (short answer = a piece of crap!): http://crackhouseormansion.com/

(Vancouver is the largest city in a province with a marijuana industry that rakes in over 7 billion dollars a year -- crackhouse is actually an inappropriate term -- it should be growhouse. Most of the real estate market action is being driven by 1) super rich Chinese investors and 2) drug dealers laundering their money / investing in growhouses.)

I was in Toronto recently, and it looks like there is a buzz on real estate as when the peak in USA. I just wonder how much longer until that buble burst as well. Doesn't make any sense to build when none can afford to buy and everyone (a few should i say) think they are making the investment of their life with 200% returns. am I crazy?

 

[perry]

I would add that Vancouver is probably the most overpriced real estate market in the world, certainly in North America.

I am finally going to have to agree with you Goucho and this is a first for me . Vancouver BC like Sydney Australia are ridicously overpriced especially for the low quality constructions apparent in these two harbour cities.

Buenos Aires imho if you choose carefully has the best architecture on the planet for the lowest prices per square metre. Look at Congreso , Balvanera , and Monserrat for bargains.