Mass Exodous Out OF Vancouver!

The cost of a bungalow in Vancouver will cost your family almost all of the collective income. This is in one word, ridiculous. Due to this serious fact, a lot are beginning to move out of the metro area.

One of these prime destinations is Nanaimo, located 55 km west of Vancouver. The fishing and logging city is poised to draw in retirement-age buyers as well as new businesses, in the local government’s bid to position the area as an effective “solution to Vancouver’s affordability and transit challenges”.

Nanaimo is 55km away from Vancouver. This place may appeal to all demographics thereby solving the housing troubles of the city.

Nanaimo’s average housing prices have increased only by a measly 7% which is in stark contrast to the astronomical increment of 57% in the Vancouver market.

If the planned transportation from Vancouver to Nanaimo is done and the projected fare of $30 reduced, we could see a mass exodus, from Vancouver to Nanaimo.

I can see the bubble beginning to reach a critical stage. Will it burst?