114
You’re no longer middle-class if you own a cottage or investment property
(www.theglobeandmail.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 29 Apr 2024
114 points (98.3% liked)
Canada
7230 readers
360 users here now
What's going on Canada?
Related Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Guelph (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
Sorted alphabetically by city name.
🏒 Sports
Hockey
- Main: c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL): incomplete
Football (CFL): incomplete
Baseball
Basketball
Soccer
- Main: /c/CanadaSoccer
- Toronto FC
💻 Schools / Universities
- BC | UBC (U of British Columbia)
- BC | SFU (Simon Fraser U)
- BC | VIU (Vancouver Island U)
- BC | TWU (Trinity Western U)
- ON | UofT (U of Toronto)
- ON | UWO (U of Western Ontario)
- ON | UWaterloo (U of Waterloo)
- ON | UofG (U of Guelph)
- ON | OTU (Ontario Tech U)
- QC | McGill (McGill U)
Sorted by province, then by total full-time enrolment.
💵 Finance, Shopping, Sales
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- General:
- Federal Parties (alphabetical):
- By Province (alphabetical):
🍁 Social / Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca
founded 4 years ago
MODERATORS
Duh. I'm very much in the top 5% of annual wage earners in the country, and there's no way I could afford a decent cottage (i.e., where I can't see or hear my neighbours).
Ah. I think I'm top-ten, but we're renters. So that's the window where people improving their economic spot need to reach -- you need to be top 5% to own a home without buying-in 20 years ago, and above that to own a vacation home.
Contrast that with a nation so heavily-taxed like Sweden where 50% of the country seems to own a cottage AND a small boat.
Having moved here from Sweden (and having just returned from a trip to Sweden) that 50% number is highly inaccurate when measured against the entire population. Swedes these days find themselves very much in a similar rent/purchase crunch we see in Canada, with most young people struggling to find affordable housing. The generation that owns those cottages and boats are the older Millenials, Gen Xers and Boomers, generally speaking.
The older millennials are not really all that old. Early 40s?
Yeah, that's about right. Even so, I'd wager the majority of people owning a cottage or boat are older than the millennial generation.