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Rent in Victoria
Message Board > General Chitchat > Rent in Victoria
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Zedius
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I have a couple of friends looking for a 2Br and I can't believe the cost of rent lately! Not to mention the fact that they all have 'shared viewings' at stupid times like 2:00 tuesday afternoon, and you basically have to be dead to live there.

Honestly, where do these yuppie landlords think they live? Since when is Victoria full of silent foreign students who never come home and can afford $1000 for a 1 bedroom? Good luck! God, these fucking people who move to Bear Mountain... is that the neighborhood they even want to live in? Nothing but quiet professionals and quiet students?

I bet half of the homeless people downtown are just normal people who happen to own pets, smoke, or stay up past 9:00. - Tue, 16 Sep 2008 8:15am Edited: Tue, 16 Sep 2008 8:16am
QuinnS
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i am currently homeless and refuse to pay a retarded lease on a crap place in the gorge or esquimalt... i make a fair amount of dough at my job but i've been beat 3 times for apartments... i live in an RV... - Tue, 16 Sep 2008 8:46am
BBJones
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There are still some reasonalbe prices out there.

$650, pets + smoking 1bedrooms in James Bay etc.

But yes, prices continue to go up, and with higehr demand makes for pickier landlords. - Tue, 16 Sep 2008 9:33am Edited: Tue, 16 Sep 2008 9:35am
LETSGETRAD!
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it took us 3 months to find a place here. i crashed on a couch for the summer (since i was living in nanaimo at first. yeah that was fun trying to find a place here)

everything so expensive for piece of shit homes that expect you to behave like their own children - Tue, 16 Sep 2008 2:07pm
mica
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We're building a one bedroom suite in our basement. Taking care to make it a nice place, with big windows - as much light as possible. It will be pretty much full height. Landsdowne/Camosun area. We haven't decided on a price yet, but may be willing to negotiate to get the right longer term tenant - clean/quiet/non-smoker, etc. May negotiate further if we can find someone who is into landscaping/yard work. Likely looking at November/December 1st. If you know anyone who might be interested and fits the bill, pass on my email. - Tue, 16 Sep 2008 4:08pm
LETSGETRAD!
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what youre not looking for someone whos gonna host parties and leave garbage all over the lawn while smoking 5 packs a day? - Tue, 16 Sep 2008 4:48pm
JDL
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theres reasonable prices at the oak bay boarder, haultain/foul bay, oak bay ave.(victoria side)... all my friends around here pay no more than 850 for 1 bedroom and 1200 for 2 bedrooms. - Wed, 17 Sep 2008 9:08am
Bounce
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"I have a couple of friends looking for a 2Br and I can't believe the cost of rent lately! Not to mention the fact that they all have 'shared viewings' at stupid times like 2:00 tuesday afternoon, and you basically have to be dead to live there." ....lol...keep in mind property management agencies are only open during regular "working hours"...group showings are safer than individual showings as well! Just some food for thought! - Wed, 17 Sep 2008 12:53pm
Chopper
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Reasonable rents out in Gordon Head if you don't mind roomies. Quite a few houses out here that are 3-4 BDRM and only $1400-$1500/mnth. That's pretty affordable for even 2 people to roomie up and get a house rather than a dumpy apartment. - Wed, 17 Sep 2008 2:05pm
Hang the DJ
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Even though my rent is a pretty fair price at $450/month, I work full time for minimum wage and can barely afford it. I can't imagine living anywhere else. I couldn't. Thankfully my 2br apartment in Fernhood saves me the $73 bus pass cost since I can just walk to work, but I feel so absolutely stuck. Also being in Victoria, it's hard to find a job for me. I've been to so many interviews and they all tell me I can't wear this, can't wear that, can't have facial piercings.. I'm not changing myself for minimum wage so here I am, stuck. Either way I'm unhappy.


And WHY THE HELL are they building huge condominiums for rich people to live in? Why are they building new monster-sized houses? Why the fuck aren't they building small dorm-like places? People can have fairly small rooms equipped with a sink, maybe a small stove or microwave, share a hall bathroom or two... And be able to afford rent while working minimum wage so they can save up money while still feeling like a human being, not a slave. I'd like to have something in my kitchen other than Mr.Noodles and bread every once in a while.

The cost of living is rising, wages aren't (for the poor working-class).

I visited my parents today and my dad was telling me about how his boss gets paid 149 dollars an hour... Just for sitting around on her ass and speaking at meetings. That's like 240,000 dollars a year. That's just a little under how much I make in a week dealing with shit working poor hours stressing out having customers yell at me and being in a poor environment where I'm getting sick and feeling unhealthy all the time. Whew. Could go on.. .

Fuck it I'm out of here in a few years to Berlin if I can "save up" enough money. Anyone who's been to Europe knows the difference between here and there. You can just see it. - Wed, 17 Sep 2008 8:48pm
MP
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Berlin, eh? Good luck! Yeah, I know the difference and I've seen it! It's about twice as expensive there as it is here!!
Good luck, Hang the DJ. - Wed, 17 Sep 2008 10:43pm Edited: Wed, 17 Sep 2008 10:45pm
Haden
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/rant

I'll never forget living in Halifax, paying $450/mo (not inclusive) for a bachelor while making $6.10/hr....which was $0.30 more an hour than minimum wage. Sometimes it takes some funky budgeting (like only having a couple of beers one night or going out one night a week, or cutting back on cell phone use, electricity etc) but it is do-able. Not saying it's a great way of life, but if you want to live in a city like Victoria where everything is expensive, the reality is you make do. If you want to afford to live, move to Saskatoon or Winnipeg.

There's a price to live here. We are all aware of that. Unfortunately, that's the reality. I'm just tired of people complaining about it. Sorry if that's uncompassionate or unsympathetic, but if you can't afford it, move. Your choice is to live here. Make it work, or let it go.

And if you are working for an employer that pays $8.00/hr in this city, you're a fool, and so is that employer. You can wash dishes for $10.00/hr at most places. Or even better, KCF for $12.00/hr +benefits.

/end rant. - Thu, 18 Sep 2008 3:00pm
QuinnS
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money isn't an issue for some us... ageism/lack of reasonable housing is... having good references/good job and getting beat for every single apartment... 20-30 people showing up to a group showing of a shit apartment on admirals rd... - Thu, 18 Sep 2008 4:03pm
Haden
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Sorry 'bout that. I got off topic there. That wasn't aimed at the people who can't find housing because of the lack of it, which there is a huge lack of decent housing.

When looking last summer, I went to a group showing of a place in Fernwood. The guy told me he would usually show it to about 50-100 people a showing. And it was crap. - Thu, 18 Sep 2008 4:12pm Edited: Thu, 18 Sep 2008 4:13pm
trevor corey
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Turn the tables.
Buy a house with a suite in it. - Thu, 18 Sep 2008 4:18pm
littledina
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have been renting for years am giving up 2 bedroom house in fernwood- watch for it if your friends are interested - cannot afford the rent myself with all the bills (oil heat) am trying to get my own place have $ to put down and am trying to get preapproved - trevor corey it's not so easy to just buy a house - i work full time at the rjh and my wage is $19.23 per hour.as a single mom with a DOG (very bad word) for renting it is super difficult to find a landlord that takes pets.as i work mon - fri by the time i look online on my am coffee break the available places are taken.good luck to you who are lookin- i am going to stay in my girlfriend's basement for the winter until I find a place. - Thu, 18 Sep 2008 4:59pm
zedius
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Yeah, buying seems to be a better idea right now.

Regarding the comment about moving away from Victoria, I guess I feel pretty entitled to live here. I was born here, and I've lived here all my life. I want to continue living here, and I feel a bit invaded by all the newcomers who've come to live in their little mountainside cubicles.

Development + increased traffic = Roadkill and high rent. I don't see too many benefits for people who grew up here, but maybe that's being selfish. Anyway, it's probably my fault for not buying a house 10 years ago (when I was 16)... - Thu, 18 Sep 2008 5:03pm
Jl
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" I'm not changing myself for minimum wage so here I am, stuck. Either way I'm unhappy."

you'll have to live with the reality that if you want to succeed; sometimes you have to sacrifice things that aren't really as big as it seems.*(ie, wearing proper attire, not getting your eye-lid pierced etc..)As someone who runs a small retail business; I wouldn't even consider someone that couldn't or wouldn't be willing to at least look the part for when they're working in MY store. Its the most aggrivating thing when I hear relatives or close friends bitch about not finding a job because of those "reasons". You think I get to be "myself" while Im at work? Hells no, but I put up with it because its a pay-cheque. Sometimes the old addage "SUCK IT UP" means alot.


"I visited my parents today and my dad was telling me about how his boss gets paid 149 dollars an hour... Just for sitting around on her ass and speaking at meetings"

would you be willing to go through the years of schooling and certifications that some people HAVE to go through to make that kind of money? Jesus christ; people lose sight of what it actually takes to make money these days. NOTHING IS FREE; you have to work for what you want. Its simple. Nothing has changed, in that respect, from when our parents were kids. A few of my friends easily clear 6 digits in a year; but they also traded off 10 years to go to school. So Id say they earned the right to sit on their asses while they DIRECT workers.

Im very old school when it comes to employement and being an employee. If you want to further your life; go out and grab it... make the sacrifices you need to, to get ahead of the pack. Its simple self motivation and alot of people lose sight of that these days.
YOU GET WHAT YOU WORK FOR!

and as for working minimum wage in this city; like the above mentioned, apply at KFC for 11$/hr PLUS benefits... that's more than I could offer at my retail store(of which you wouldn't make a dime in commission... so before I hear some sob story about not making enough money... save it, suck it up and get a better paying job. - Thu, 18 Sep 2008 5:29pm
Hang the DJ
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OBVIOUSLY she had to go through years of schooling to earn that. I just think it's funny how you can work a shit job and get paid 8 bucks or work one like that.

And to the whole retail image/dress code thing.... I'm myself, and will not change for employers. I would change the way I dress for a job, but would not take out my piercings. I consider that to be discrimination.

As of right now I'm deciding what to go to school for that will help me towards becoming a tattoo artist. - Sat, 20 Sep 2008 8:09am
Jl
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"And to the whole retail image/dress code thing.... I'm myself, and will not change for employers. I would change the way I dress for a job, but would not take out my piercings. I consider that to be discrimination. "

i really dont mean to be an asshole; but thats the difference between someone who makes 180$/hr "sitting on their asses" and someone who isn't employed. So really; stop the sob story and keep at'r. Its good that your searching for a career; but keep in mind that eventually you WILL have to change.

"I just think it's funny how you can work a shit job and get paid 8 bucks or work one like that."

again, did u go to school to earn minimum wage after owing(potentially if you've used student loans) 30k or more? Hells no, and that's why that lady/guy/person/anyone who went to school is making the money their making. Think of it this way; you slave away for minimum wage for 8 years. In that time you could have had the oppourtunity to apply for a student loan, acheive your degree in a field of business(as an example)*(that's 4 years), and then the next 4 years you spend researching tatoo art. 8 years down the road, you could potentially own a very successful business because you spent the time to have the right tools mentally and physically to do these things. RATHER than working the same mundane job; wondering what you could've done.

I get really really frustrated when this topic comes up because I feel like im the only one that sees it this way. Its like people*(younger generations mainly) dont understand the value of work to money. You obveously couldn't apply to be a CEO without ANY credentials or background in that field. So why shit on the people that spent the time and owe back that money to the gov't?
It really miff's me when I hear people who bring up the exat thing you have there, Hang the Dj. And I know you have a decent perspective of that situation but I have to at least give some reasoning in there too :P - Sat, 20 Sep 2008 9:03am
Hang the DJ
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I fully understand what you're saying, and am aware of everything you're talking about. I know that eventually if I don't end up getting an apprenticeship I may have to go to school for something else, and will have to change. As of right now, I'm just not changing myself for minimum wage unless they pay me back the $350 I've spent on decorating my face.. My concern is matching the rising cost of living with wages.

I know what you mean by some youth not changing who they are, but I have always been a weird dresser as a kid and have always loved the artistic and creative side of things, and to take that away from myself is depressing. I shouldn't have to deal with it. "Be yourself" they say. I don't care about making loads of money but it shouldn't be a struggle just to get by. I do wish I was normal and wanted to go to school like everyone else and didn't care about art and music. Life would be simple, I have money to go to school for anything I want, but I'm gonna stick to my guns instead.

I do have respect for people who put time and dedication into schooling so they can have a well-paying job. It's not easy to get to where they are. Yeah, I get it. I'm not putting them down, it's just funny how hard manual labour barely pays anything next to an air-conditioned office job.

I might go to school for business.. who knows.. I'd like to have my own tattoo shop. It would be cool to turn it into a music venue at night. - Sat, 20 Sep 2008 5:47pm
sifto
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landlord sex works well when selling your roommates ass.woops - Sun, 21 Sep 2008 8:15pm
trevor corey
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......there it is. - Mon, 22 Sep 2008 1:53am
Bounce
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Village on the Green

Close to downtown and Cook Street Village; 2 bedroom 1 level townhouse; $750.00 plus utilities; available October 1, 2008. Cat OK

found this on the web today...it's crd housing call them!! - Thu, 25 Sep 2008 10:25am
QuinnS
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you've got to be a family or disabled or old to get help from crd...? - Thu, 25 Sep 2008 10:45am
JDL
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its also considered "low-income housing"... not just an "in-need" type(ie, in need of social assistance, E.I., etc...)
as long as you make below what the gov't considers low-income then you can benefit from housing that cheap; but generally all those places are taken or have a long wait-list(suprise! lol). Otherwise; I guess you have to suck it up and work harder? - Thu, 25 Sep 2008 1:18pm
QuinnS
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"pull yourself up by your bootstraps" ehhhhhhh lots of conservatives in here... Reaganites?

I make a very good wage I'm nearly above the housing service's line with one income (not a family...) so... obviously i would get turned down for low-income housing...

people have a weird attitude on this board on this topic... lots of people that probably had their apartments found by their parents... - Thu, 25 Sep 2008 1:29pm
Lucius
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Planning and Sacrafice.......Cheers, Lucius - Thu, 25 Sep 2008 1:42pm
JDL
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"people have a weird attitude on this board on this topic... lots of people that probably had their apartments found by their parents.."

I would've loved for my parents to foot out the time to look for an apt for me and my wife; but sadly, that's out of the question. All the statements I've made above under both nicks(JDL and Jl; too lazy to change them after I log in) are MY OPINIONS. Formulated from my own experiences. I know its tough finding a place to live when your just on the cusp of being considered "low income". But I was lucky when we found our 1 bedroom on oak bay ave. for 700/month and it has not increased in the 4 years I've lived there. If rent were to increase and I found myself unable to hold up my end of the rent; then I would by all means look for more work or a better paying job, at least. And btw, if you feel "our parents" found apartments for us, then whats stopping you for finding something of the same? If its there; then take it.

"I make a very good wage I'm nearly above the housing service's line with one income (not a family...) so... obviously i would get turned down for low-income housing... "

then whats the problem? Theres LOTS of places that aren't outrageous for rent. It takes more than just looking on websites for vacancies. Theres something to be had about doing things the "old" way; you find what you want, and not somthing you'll settle for.

Im not trying to be heartless or "reaganistic" in my opinions; but I have VERY LITTLE sympathy for someone who spends their spare time "looking for places to live" soley on the internet(not speaking to you Quinn spefically but you get the jist). There is affordable housing in this city(all be it they may be occupied) you just have to look under every stone and thru every nook. Patience is key! - Thu, 25 Sep 2008 1:53pm Edited: Thu, 25 Sep 2008 1:53pm
Zedius
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Where else do you look than the internet? Word of mouth is alright, but most of the time that's on the internet too. Classified ads are definitely on the internet. Where else? The wall at the YMCA?

Thanks for the good tip, Bounce. I appreciate it, though my friend is no longer looking. She's got a room in a friend's condo for $600 inclusive, so that's pretty good. - Thu, 25 Sep 2008 2:42pm
Jl
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Simply going to areas known to have lots of apartment buildings either driving or walking. Checking out camosun and Uvic for roommate or housing postings. Checking the paper as well(not everyone posts on the internet).
How would you find a job without the internet? Now, with your answer; apply that to finding an apartment.
Its not as hard as people make it seem. The internet is certainly the EASIEST way out; but then again, who likes taking the easy road? :P - Thu, 25 Sep 2008 3:28pm
DOOMHAMMER
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Fuck I hate this forum interface, but here I go.

You dont have to change how you look to get a decent paying job, its not really an excuse to why you're stupid enough to keep working for minimum wage.

Money isnt the biggest reason why most of the people I know live in little fucking shitholes.

Its the same thing for both those points really, you just have to spend a little effort looking, and not panic/grab shit as fast as you can. - Thu, 25 Sep 2008 3:43pm
Jl
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"Its the same thing for both those points really, you just have to spend a little effort looking, and not panic/grab shit as fast as you can"

EEEXXACTLY!!!! - Thu, 25 Sep 2008 3:54pm
Zedius
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Sometimes there just isn't time to not panic though. Especially when so many places are like "Come by for a group showing at 1pm tuesday".

But yeah, in general cases I agree. I'm moving back to my parents for a couple months to save money and look for a place I actually want to live in, but I'm lucky I can do that.

Edit: Sorry about that double negative up there. - Thu, 25 Sep 2008 4:21pm Edited: Thu, 25 Sep 2008 4:22pm
Kyle
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Coffee shops like Cafe Fantastico tend to have bulletin boards that often have vacancies posted... laundromats too.

Probably already seen it, but online you can always check out the Burnside Gorge site http://www.burnsidegorge.ca/housing.html - Thu, 25 Sep 2008 5:55pm
WardEnsemble
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hang the dj.....why dont you try a compromise and wear plastic retainers while working, during interviews, etc...? They are nearly invisible and demonstrate a mature professional side of yourself, while still being yourself, that they might not see if they are distracted by your glinty face-garb. - Mon, 29 Sep 2008 12:04am Edited: Mon, 29 Sep 2008 12:06am
Hang the DJ
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My piercings don't heal well (septum's fairly new, a lip one would fit funny.. and why would I need to get rid of a tiny nose stud?) I've already had my eyebrow reject. It would just be a total pain in the ass to take out my piercings and replace them with retainers all the time. Where I want to go in life, I can keep my piercings. I know it makes complete sense to others to take them out/wear retainers but I don't feel I have to and am going to stick to that. Maybe I should stop bitching? But I'm not. I get the other side, I get my side.

And QuinnS do you think my parents helped me move out? They charged me rent as soon as I graduated (300 the first year, 400 the next) so it's not like I could even move back to save money. Looking for an apartment is hell, especially when you have to talk about yourself.. Will they choose the
"I'm in a band, into music, and want to be a tattoo artist" or the "I'm a receptionist in s medical office building. I like reading and going for runs in the morning".

Thankfully my roommate chose me.. but now he's talking about leaving to travel which sucks because my apartment has turned into a low-income block for families... They're letting us stay here buttttt...

He might not be able to switch the place to my name. Will Pemberton just kick me out? Other than that... Roommate anyone? - Mon, 29 Sep 2008 1:17am
Sedlec
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so when are you moving to Berlin? Now is the good time in your life at your age to do it. Apply for a work visa there. - Mon, 29 Sep 2008 8:16am
Hang the DJ
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In a few years- I don't want to just up-and-leave without a plan, even though I wont reeeeeally have one. - Mon, 29 Sep 2008 6:15pm
Hang the DJ
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Well COOL, P-Holmes can transfer the lease to my name, so I'm safe! But I will need a new roommate in a couple of months. Any takers? $450 a month, heat/etc not included, close to downtown and right down the street from Looooogan's. - Tue, 30 Sep 2008 10:37pm
BBJones
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Some related news...

"Victoria has a 0.3 per cent vacancy rate, the lowest in Canada."

http://www.canada.com/victoriatimescolonist/news/story.html?id=9a3819f2-66af-49ab-94e0-53bc119da441

Victoria councillors plan to ban the demolition of rental units in an effort to help preserve the city's supply of affordable housing.

The proposed "housing emergency bylaw" that council will likely consider next week would ban the demolition of residential buildings with more than three units unless deemed unsafe for human occupation or the builder plans to build new subsidized rental or affordable units on the site.

As well, councillors have directed staff to amend the city's official community plan to signal concern about the protection of affordable and rental housing units being lost to conversion into new strata condos or demolition.


Victoria has a 0.3 per cent vacancy rate, the lowest in Canada.

"The problem is while we're creating lots of new housing units, they tend to be high-end housing units, typically condos that are way beyond the reach of most people who work in the city of Victoria," said Rob Woodland, director of legislative and regulatory services.

"We did a fair bit of analysis on it some time ago for council. There's no dispute that there's lots of condos coming onto the market, it's just that typically they're in the $300- to $400-a-square-foot price range that the working stiff can't afford."

The OCP would be revised to require a developer looking to rezone a rental property with more than four units into strata units to provide an equal number of affordable units on site, or make an equivalent cash contribution to the city's Affordable Housing Trust Fund.

The OCP policy change would also signal the city's intent to secure a suitable tenant relocation plan for the tenants being displaced at the time of rezoning of a building greater than four units.

Coun. Geoff Young worried that banning the demolition of some buildings could actually contribute to the loss of housing stock. Young said the replacement and renewal of housing stock is a normal process that takes place over time.

"Once we try to freeze or arrest that process, we're going to get some people reacting in ways we don't want to happen," he said.

Young added that units could be left empty or people could defer maintenance to render them "unsafe."

Other councillors, including Pam Madoff and Helen Hughes, said Victoria can't afford to wait.

"I think it's very clear that we are truly dealing with a crisis. I don't think we can overestimate the severity of the situation in the city and it is certainly worsening," said Madoff.

"The simple fact that we're considering this as a council is going to send a message that finally, after years and years and years of wanting to get this issue on the table, that this is a crisis and we do need to take extraordinary measures," she said.

Madoff said she felt "demolition by neglect" is only a remote possibility that might occur in one in 100 cases.

"I think it's truly managing the crisis with the only tools we have available to us," she said of the proposed bylaw.

She said Vancouver has implemented similar measures and even requires replacement housing stock be built in the same neighbourhood.

Hughes said it's important the city move quickly on the changes.

"I believe we are in crisis. We have not seen affordable rental units come forward and I think that's really to our disgrace. I hope that we will be able to turn things around and make this become something that will help the people who have been suffering out there. The young families and single people are having a really tough time," Hughes said.

[email protected] - Fri, 3 Oct 2008 9:58am Edited: Fri, 3 Oct 2008 9:59am
devin
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MOVE TO CALGARY! - Sun, 5 Oct 2008 12:45pm
trevor corey
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I'd be more than happy to tear down my old house and put up a forty unit rental building. Anyone want to loan me a few million?
http://www.youtube.com/watch?v=oujrauQQ-Xk&feature=user
Devon, lol. "Move to Calgary"? .....but, but, that's where Todd Bertuzzi lives. - Sun, 5 Oct 2008 3:53pm Edited: Sun, 5 Oct 2008 3:55pm
Spinvis
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Devin is back again? i thought you moved outta town? clearly you cant get enough of us victorians.. posting on here all the time - Mon, 6 Oct 2008 10:11am
steve
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Why complain about high rent.. when you could complain about your high mortgage payments???

(shameless self promotion to follow)
Steven Klipper
Holmes Realty Ltd.

From Deep Cove to the charming village of Oak Bay, Steven has spent over 17 years as a resident of southern Vancouver Island. His time spent as a member of these communities has instilled in him a deep understanding of what the beautiful Peninsula and the vibrant city of Victoria have to offer.

Positive, energized and ethical, Steven is dedicated to helping you achieve your real estate dreams. Whether you are a first time home buyer looking for that perfect starter property or an experienced home owner looking for a change, putting Steven to work for you will ensure that all your real estate needs are met.

Informed and committed Steven Klipper will provide you with the smooth and successful experience you deserve. Contact Steven today with any and all of your questions, and he will happily assist you.

Telephone: (250) 656-0911 or Toll Free 877-656-0911
Fax: (250) 656-2435

[email protected] - Mon, 6 Oct 2008 4:03pm
devin
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I'm back in God's country, I'll post you guys some pictures sometime so Trevor knows what he's missing when he's having and his head smashed in so hard it breaks his neck and shrugging it off cause it ain't no thang and there's no reason to involve the police so stfu pussy.

But hey, I'll be in your gross little hamlet for an afternoon this weekend and if you all pay ten bucks to watch I'll wrestle JI on one of the snooker tables at the Peacock. - Fri, 10 Oct 2008 11:09pm
trevor corey
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Bertuzzi is your problem now. Don't involve me. Besides there are plenty of things I like about Alberta. - Sat, 11 Oct 2008 1:49am
trevor corey
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Is Alberta named after Bertuzzi? Albertuzzia? - Sat, 11 Oct 2008 1:50am
Jl
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if you put up a fight anything like your beloved flames did the other night; it shouldn't be an issue.
BRING IT ON FLATLANDER - Sat, 11 Oct 2008 10:07am
trevor corey
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Albertuzzita?

http://www.youtube.com/watch?v=FnwQv5b0jXE&feature=related - Sat, 11 Oct 2008 2:16pm Edited: Sat, 11 Oct 2008 2:17pm
James
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Yeah I feel for some of you. I'm not sure what's going to happen because obviously real estate prices are dropping but I don't know what will happen with rental prices. It's not going to be very fair to charge $1200 a month for rent in a house that was once worth $800,000 and then drops to $400,000 or less. At the same time people are still paying off $800,000 mortgages and need to supplement the cost somehow. - Thu, 16 Oct 2008 2:10pm
Jl
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WOw, 50% drop in real estate; aside from the states, please tell me where so I can invest!
Housing costs here, in terms of rent, wont see much of a drop because there will always be demand to live in, what some consider, a convienient part of town(ie, downtown). Where theres demand, there is inflation. Its simple.
Im not saying that rent WONT drop or raise; Im saying that I wont be suprised if NOTHING happens to rental costs. People have these outrageous mortgages that they have to pay off; even if the house/property is worth half of what they assessed it at/mortgaged it(that's YOUR problem with the bank). The easiest way to subsidize your payments is getting someone else to live-in/room with you. - Thu, 16 Oct 2008 2:27pm
Curmudgeon Rocker
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What in the flying fuck?!?

"back in god's country"?!?

You have to be kidding me - you inbred, cow-fucking church boy. - Thu, 16 Oct 2008 7:49pm
DOOMHAMMER
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My guess is house prices are not going to drop that much.

House prices have been raising at an absolutely silly rate over the last few years.

Say a house in 1990 was worth 280,000. Depending on where it is, it could be up to 650,000 right now. Three years ago it would have been 600,000.

Using random numbers, say houses have been increasing at 6% annually, but suddenly over the last 5 years its suddenly been 10-12%. At some point the market is going to have to correct itself (houses cannot really be more than what people can pay off). While prices may dip, I wouldnt expect it to be anymore of a dip than what prices were a year or two ago.

Its pretty simple math at this point, atleast in victoria. We havent been hit by the so called 'financial crisis' as hard as the states, our banks havent given out sub prime mortgages, and while it may not be fun or easy it does seem that most of the people buying houses can actually afford to make the payments (albeit theres isnt much room for the average person to pay more).

So more than likely, you're going to be stuck paying the current prices, and with construction spinning down and land not exactly growing (and therefore prices not going down) you should expect to see the same, if not modest increases in rent due to vacancy rates and the fact you have no choice in the matter.

Unlike the past, very few people can own more than one house as it isnt as worth it to buy one and rent it out to pay the mortgage as it was in the past, and with population increasing, good luck! - Thu, 16 Oct 2008 10:23pm
Mr. Hell
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Pitch a tent in the park. I hear it's the thing to do these days. - Fri, 17 Oct 2008 9:36pm
evilkleg
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Statistically speaking the housing prices in Victoria have never actually gone down, just slowed their rate of increase (this MAY change- we'll have to wait and see). So, as Doomhammer said, rent will probably stay the same or actually increase slightly. Your only chance is to buy if you have the financial means. Paying rent is only enrichening (helping to create more equity for) the people who are already landowners. - Sun, 19 Oct 2008 2:38pm
evilkleg
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Of course, as Mr. Hell pointed out, Beacon Hill Park is looking like a better and better alternative! - Sun, 19 Oct 2008 2:39pm
Curmudgeon Rocker
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A lot of out-of-town students had a brutal time this Aug./Sept. trying to find ANYTHING to live in, too. - Mon, 20 Oct 2008 7:31pm
Hang the DJ
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Ah the world's going to shit anyways. Ahaha Racun's and porcapicks ahaha. AHAHAA. HA. AAAHAHAH. - Mon, 20 Oct 2008 10:22pm
Matteus
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from:
http://www.rreda.com/qualityoflife/Housing_Costs/ - Wed, 22 Oct 2008 7:55pm
K.C.
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vive la revolution.

k. - Fri, 14 Nov 2008 10:49am Edited: Fri, 14 Nov 2008 11:06am
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