Average Canadian needs to make 150,000$ to buy a house

[MoveForward]

Household…

 

[Bubba T]

I was in Toronto this passed weekend and damn it’s expensive as fukk and talking to the locals and they was like it’s only going to get worse

I’m here right now and it’s ridiculous how expensive things are.

 

[Amestafuu (Emeritus)]

Better start killing polar bears and move to one of rural areas

In theory it should be cheap to live in one of those frozen northern provinces but you are isolated and cut off from everything. food has to be flown in and cost 2-4 times the average in a major city. it's literally hell on earth. frozen in the middle of nowhere and even more expensive than the cities.

 

[MikelArteta]

I was in Toronto this passed weekend and damn it’s expensive as fukk and talking to the locals and they was like it’s only going to get worse

Yup
Not to mention our salaries are low and stagnant as well.

 

[Amestafuu (Emeritus)]

I thought that was paradise? Canadians delusional per usual, just like their fake jamaican accents

I mean this is the equivalent of San Fran, NY city markets and other such metropolitan cities. You think it's so distant from you then you might be in the country. Same shyt is already happening in America

 

[MikelArteta]

I’m here right now and it’s ridiculous how expensive things are.

Even a one bedroom condo you're looking at like 700k

This is what a one million house is listed for and will prob sell for more even with the rising interest rates

 

[MikelArteta]

I mean this is the equivalent of San Fran, NY city markets and other such metropolitan cities. You think it's so distant from you then you might be in the country. Same shyt is already happening in America

I always say toronto is worse. You can live like 45min to a hour outside of most major cities and find something affordable. Not for Toronto and with the rising interest rates

 

[Box Factory]

It's not even just home ownership. Rent has become insane over the last few years.

I feel bad for young ppl. 1 bedroom basement apartments are like minimum $1500+ a month anywhere within like 2 hours of a large city.

 

[ORDER_66]

we're just forecasting what is to come for y'all don't you get it?

If you don't have 2 high incomes out here it's a wrap. i been told people i have no intention of buying a home here. not even because of affordability. I work in home building. the quality of homes in North America is laughably trash

I got a house built for under 100k in Africa that would rival most multi million dollar homes here. shyt is a joke. It would be one way if they were actually worth the millions you pay for em.

i know this, I know it's only getting harder and we gonna have to make more sacrifices to live a decent lifestyle here... we've been feeling the crunch

 

[MikelArteta]

It's not even just home ownership. Rent has become insane over the last few years.

I feel bad for young ppl. 1 bedroom basement apartments are like minimum $1500+ a month anywhere within like 2 hours of a large city.

5 years ago you could rent a basement apartment for like 900 and a room for like 500
now rooms go for 900 yes a private room with a shared washroom and kitchen for 900 and basement apartments 1500, 1bdrm condos 2k plus

 

[JLova]

I always say toronto is worse. You can live like 45min to a hour outside of most major cities and find something affordable. Not for Toronto and with the rising interest rates

It’s bad everywhere.

 

[Bubba T]

Even a one bedroom condo you're looking at like 700k

This is what a one million house is listed for and will prob sell for more even with the rising interest rates

Lmao that’s what all these houses in North York look like! I was telling my mom these all look like million dollar homes for the wrong reason.

 

[MikelArteta]

The Bank of Canada is widely expected to hike its benchmark interest rate by 75 basis points on Wednesday, as it continues on an aggressive path to try to rein in soaring inflation.

The outsized hike would be the largest increase since 1998 and would come after two consecutive 50 basis point hikes. A 75 basis point increase would bring the central bank's policy interest rate to 2.25 per cent for the first time since 2008.

dark days ahead

 

[1thouwow]

I mean this is the equivalent of San Fran, NY city markets and other such metropolitan cities. You think it's so distant from you then you might be in the country. Same shyt is already happening in America

I keep my foot on cacadas neck. I forgot I said that shyt

 

[Box Factory]

Even a one bedroom condo you're looking at like 700k

This is what a one million house is listed for and will prob sell for more even with the rising interest rates

My friend's mom sold their house that's exactly like this, maybe smaller, with no front or backyard about an hour from Toronto for 1.3 mil.

I almost fell over. This was like a year ago too.

Houses like this should be starter kits and like 300-500k max.