This article in the Financial Post represents Nanaimo as a viable housing option for folk who have been priced out of the over heated Vancouver housing market.
The fifty year old owner of a consulting firm located in Vancouver made the choice to live in Nanaimo, where housing is about 25% the cost of Vancouver housing and because of advantages to raising his family.
Currently even costing in the $100 seaplane fare for commuting there is a financial advantage to living in Nanaimo and working in Vancouver as illustrated in this Vancouver Sun article. Scott Brown of the Vancouver Sun demonstrates that an annual housing cost saving of $76,800 could be realized by living in Nanaimo rather than Vancouver. The difference is cut in half when he factored in the cost of a daily $198/round trip float plane commute which was pegged at $40,000/yr.
Even factoring in the cost of a floatplane round trip, there are advantages to be realized, however, when the much-anticipated downtown to downtown foot ferry service gets up and running, that advantage increases considerably in Nanaimo's favour.
Bring them on, open up this one horse town, and let's get our mojo happening :-)
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