In Canada, life is luxurious and the real estate market is booming but not everyone is celebrating as it certainly comes with challenges, aside from the nearly impossible real estate prices.
News 1130 reports that many suburbs have park and ride for a lot of people who want to take transit the entire commute or at least part of it but this is not happening in Vancouver and Burnaby because of the high real estate prices, which has even gotten higher the previous year, says
Vancouver, being a spread out city, it takes abuot 45 minutes to commute from Burnaby to downtown, especially during rush hour. What makes it harder is that parking comes at a big price, if you can find a free spot, that is. At the moment, rhee is not options to park by a sky train then take the train the rest of the way, it is just not possible.
Jennifer Morland from TransLink, says they'd like to have more park and rides, but it doesn't make sense in all areas at this point
According to her, "Other than statutory right of ways, we don't actually own any land around our SkyTrain stations, and with the current real estate market, it would be far too expensive and cost prohibitive for us to secure land."
However, she made a good point when she added that cummuters from Vancouver and Burnaby are better served with buses to transport them to the Sky Train.
CBC News previously reported that the benchmark for all types of homes in December in Metro Vancouver was $760,900. It is a staggering increase of 18.9 percent compared to a year before.
Meanwhile, the benchmark price for detached houses soared 24.3 per cent from December 2014 to $1,248,000. The home sales hit a record high of almost 28 percent despite a lower number of homes listed for sale. Because of this, property assessment in the area is being raised to 30 percent.
