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this post was submitted on 05 Oct 2023
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I would love to pump some baby batter into my gf and start having a kids, can't do that while we're stuck living paycheque to paycheque on a combined 130k in my parents basement.
I hate the beginning of this comment
I hate that I can't do it so I guess we're even?
Yeah fair XP. Apologies for totally disregarding the larger issue, bud. Didn't mean to minimize one of our generational issues
All good man lol, just trying to add a little humour to the devastating reality of maybe never having kids.
Sorry but how are you living paycheck to paycheck with that income and little to no rent?
Without writing out my whole life story: student loans, unexpected vehicle issues (public transit isn't an option where I live), out of pocket medical costs not covered by benefits or gov't, long commutes with expensive gas and no feasible alternatives and few job opportunities closer to home in my field. Can't afford to move due to high rents so I'm stuck driving.
There's more but I'm hungry and wanna eat dinner and don't feel like going into it. We save everything that isn't essential and barely go out for fun, anything extra goes towards a down payment but the way things are going right not it doesn't look like we'll be able to buy for years unless we can put away like 2k a month.
I don't know what province youre in but also the skyrocketing cost of food and groceries.
What I got a couple years ago with $100 doesn't buy shit now a days.
Fuck our government both federal and provincial, and all parties. Fuck every politician that sits in parliament collecting a pretty 6 figure paycheque and watching their real-estate asset appreciate as Canadians get perpetually fucked over time and time again.
Yup that too.
My partner got food poisoning a few years ago and kicked her food intolerances up a level where even trace amounts now wreck her so we've had to go to the dairy free route which is expensive and very limiting. Her doctor recently told her to try cutting gluten so now I have to relearn how to shop and cook to accommodate that which adds more to the bill. She's essentially a gluten free vegan who eats meat.
When people say pay cheque to pay cheque in this type of situation they're still putting money away into savings typically but are out of reach of where they need to be. There's usually large debts, medical costs or other financial burdens that aren't mentioned like maybe taking care of a family member. Their pay cheque to pay cheque situation is a bit different than someone working minimum wage and will be out on the streets as they still have money going into some sort of savings
Or they just live in Toroncouver.
How bad is housing in Canada right now? This is not a prominent topic here in Europe, so let's say you look for a 200 m² house in the outer parts of a bigger city, what would be the price for that?
Start with income perspective. The average annual salary in 2022 was just under $60,000. Nationally, the average house price in summer 2023 was a bit over $750,000. These incomes and house prices are affected pretty strongly by the lower incomes and lower housing costs in rural Canada vs the major cities like Vancouver and Toronto
So.. shift attention to the cities. In Toronto and Vancouver, the average house price is around $1,200,000 give or take a little. You need at a combined income of least $280,000 to qualify for a house like that (or have substantial equity built up in previous home purchases). Most people are earning at or close to the national average... with a few - especially those in STEM careers (sw devs for example) up over $100,000 per year.
I live in a suburb city (I own my house)... it's inconveniently located if you want/need to be in the core city centre for work (I'm about 3 hours commute right now if I needed to go in to a downtown office.. thankfully I don't). Houses on my street are relatively new (most built in 2019 and 2020). The houses currently for sale are listing between $1,250,000 and $2,350,000.
Renting can be really awful in Canada too... you get stunts like this https://toronto.ctvnews.ca/this-is-egregious-sisters-shocked-when-toronto-landlord-raises-rent-to-9-500-a-month-1.6548845 simply because they can...
tl;dr Housing in Canada is bonkers
Thanks for the insight, this is crazy. We are looking for houses right now here in Germany, and and the last one we visited was 269 m² for around 500.000€ and 30 minutes drive away of the inner city of the next major city. I hope politics does something about your problem, it can not stay like this.
Germany has its own insanity in the housing market :-P I lived in Germany or several years. I rented vs buying and I dreaded moving because facing that shit show of a rental process (at least in places like Hamburg) was... too much. Queuing up with 100 other people all racing to fill in the rental application form first just so they'd get a chance at a place. I quickly learned to use an agency to line up rentals... and ended up renting a VERY nice newly built flat for the same price as the old many-times-renovated flats in the same district.
I did buy a house elsewhere in Europe and it was... interesting as an expat. It was substantially cheaper than Canada... granted it was many years ago, so not a fair comparison.
The Canadian government makes noises about "fixing" the housing crisis in Canada, but... I honestly don't think they can. Houses are currently priced out of reach... WAY out of reach for the average new home buyer. People can't save up a 5% to 20% down payment fast enough to keep up with the rising cost of living. The cost of everything is increasing at multiple times their potential salary increases (if they even get any).
The issue is that investors are buying houses 100k over asking price same or next day because they don't plan on living in them, they just want to make the investment and prop up the housing market bubble for as long as they can.
Speculators need to be heavily taxed. We need to discourage this and put a stop to it ASAP.
Everything is worth what people will pay for it. The problem is that we aren't building anywhere near enough housing.
In America conservative estimates are 4 empty homes for every person.
That can't possibly be true. Just using simple logic: if someone owns a vacant house or unit, why wouldn't they rent it out considering the absurd rents that can be charged in this market?
https://www.census.gov/library/stories/2023/05/vacant-seasonal-housing.html#:~:text=As%20the%20nation%20recovered%20from,vacant%20housing%20in%20the%20county.
That's a US statistic. Their housing market is very different from Canada's.
It's clearly referring to seasonal residences, many of which are properties that aren't suitable for year round use. My uncle owns a cabin up north that is only accessible by sled in the winter. Should that really be considered an "empty house"? It's a huge red herring to measure every single building someone can sleep in as housing, rather than measure the buildings people are actually treating as housing.
It isn't "4 empty homes for every person". That's a crazy number. It says some counties (again in the US) (specifically rural counties) have more seasonal vacant residences than non-seasonal. Which makes total sense. The county where my uncle's cabin is located doesn't have any major towns in it. It's just cottage country.
None of that has anything to do with the housing crisis.
I bought a townhouse that was 1700sqft (~150m^2) in Markharm, a suburb of the GTA (1hr to the center of toronto by car, 1.5hrs by bus), in a pretty bad area for 800K CAD during a slight market crash during covid. By all accounts this was an exceptionally good deal, by realtor didn't think we could get anything for under 900. I sold that townhouse for 1.1 mil in 2023.
You technically can, but she has to be on the pill.
She does have an iud so I could before, but her Dr put her on medication for her rheumatoid arthritis last year that causes birth defects so at the moment we gotta double up. Even if that wasn't the case, still couldn't afford to have a kid right now.
Oof, well, no love baby juices for her.
Unless there was another hole where it could be injected 🤔
(◕ヮ<)
It’s wild to consider that $130k combined income can’t even get you on the lowest rung of the housing ladder.
Now consider that the average wage - half of all people make less - is only $48k in Canada.