According to the article real estate costs in Vancouver are half that of San Francisco. Are salaries half too?
If you're only looking at detached houses then Vancouver is as expensive as SF if not more expensive. The median price is $1.3 million in the east side and $3.2 in the west side.
http://www.theglobeandmail.com/report-on-business/economy/ho...
Salaries are nowhere close to SF salaries. This is why Vancouver is one of the most unaffordable cities in the world.
The costs quoted in the article are a bit vague. If one were to assume that by "Vancouver home", she was referring to a "house" located within the city of Vancouver, you would be in for a rude awakening. Average house price is pushing 2M and what that will buy you is a place to tear down in what was/is the less desirable part of the city.
If your talking a 1 bedroom condo in the city, 500k will get you started and the 775k quoted will get you something a bit above the basics.
When you can figure out how your going to pay that mortgage with your "Vancouver tech" salary, and still be able to afford to live, I'm all ears :)
The newer buildings are now exclusively luxury condos, like the tower being built on Harwood St that's one unit per floor for offshore millionaires.
Not sure how well those figures line up with reality, though.
Even with the cost/affordability, the bigger problem is the lack of availability of rental units. The current vacancy rate in the city is at 0.8% and heading downwards.
Sad thing is, there is LOTS of empty condo's!
Right now I'm in NYC making about 4x what I would make in Vancouver for a similar job (disregarding exchange rate! It'd be ~5-6x if we include exchange rate), so yeah, still way ahead despite NYC's astronomical cost of living.