most liveable city?

Some time ago, I read this story on CBC's website. It contained a staggering statistic: Vancouverites spend by far the most in Canada -- an average of nearly 70% of their pre-tax income -- on home ownership. Pre-tax. After I'd started breathing again, this left me with a lot of questions about one of the world's "most liveable cities." How on earth do ordinary people get by when 70% of their income is devoted to having a home, and the rest goes to pay taxes? How does the cost of living in this market relate to the increasing rate of homelessness in the city? How are Vancouver’s many distant -- and growing -- suburbs involved; are these the only places working people can afford to live? What will happen when the baby boomers’ generation becomes ready to sell their larger family homes close to the core – will the influx of desirable homes lower prices across the market, or will people still be willing to pay the high prices these homes command now? (If so, who's buying?) Although our planners have good intentions -- arguably some of the best intentions in North America -- how these intentions are actually turned into a city depends more than we might like to admit on the sheer economics of this very complex situation.

In this blog, I’m really interested in looking the city as a real estate market: the fact that everything in the city is bought, sold, rented, and profited on has fundamental implications on the physical, economic, and social fabric of Vancouver. In particular, I'm interested in the ways that Vancouver's social demographics are affected by – and in turn affect – the residential real estate market. The shiny, demographic-oriented marketing of new condos seems like such a bold contrast to some of the poorest urban areas in Canada that neigbour them; the economic system and conditions that create both situations seems like a good place to begin to understand this disparity.