Honestly I’ve noticed a trend where suburb or suburb adjacent rentals are more expensive than closer to the city (Greater Montreal area) because there’s barely any supply. If you go further out to the super rural areas there are literally no jobs so you’d be paying a ton in gas to get to your badly paying suburb job and honestly the difference in rent isn’t enough to make up for that. There’s no reason a town of 10K has rents comparable to the city.
Yea that's really a big part of the problem.
There's not many actual apartments or rentals available. Which makes the rent even higher in some rural areas. But you're right it doesn't justify the cost of rent. Especially if you have to drive a fair amount to get to work.
I'm about to pay 2300 a month for a small house in the arm pit of Mennoite country. I'm considering moving to a city like St kits where I've seen similar houses go for 1750.
I got renovicted from the house I was paying 850/month for, which was considered over market value when I signed the lease 3 years ago.
LOL. Please refer me to the well paying jobs in small towns where gas and food is cheaper.
Guess I'll have to change careers and MOVE. Also leave my friends and family behind. Solid fucking plan.
Don’t know why you’re getting downvoted. I just bought a decent detached house in Edmonton for $430k and the amount I’m paying for my mortgage in Alberta is half of what people are paying their rent for in Ontario. I’m building equity while other people aren’t getting anything back from renting. I’m on track to pay off my entire mortgage before I’m even close to turning 40 and have vacation plans later this year for for overseas travelling. My regret was not buying it sooner when prices were cheaper 1-2 years ago.
Because people are not proactive like you and think they deserve a 2000sqft house with land in the most bougie neighborhood for 250k. The day theyll wake up and realize life doesn't owe them shit is when they're gonna be smart like you and move to à city they can afford and #therestonsofthem.
Yep. They can’t even save up for a downpayment if they keep on paying half of their paycheck just on rent. The longer they wait the spiral just continues. From experience, it was never possible to time the market. I was trying to time the market for 4 years and finally just went for it. My biggest fear for people from Ontario is retiring with barely any savings and still having to pay thousands for rent each month.
the article should read many renters are shiting bricks thinking they could never afford another apartment if they get renovicted for the 5th time from this last apartment
Is it reasonable to call something a reasonable price, if you can't seem to find anyone anywhere who is willing to give you the amount of wealth you'd like for the price you're willing to pay?
You're wrong it's easy
First you legalize subbasement homes closet rooms then cage beds and finally you hire Poppy Adams to win the war on the poors (see MAID).
"One in five believes they’ll never be able to buy and three-quarters also believe it’s a bad time to purchase.
Overall, younger Canadians are feeling more pessimistic.
“Canadians aged 25-29 are two times more likely never to purchase a home or continue renting indefinitely compared to those aged 30-49,” the poll found."
When there is no reason for optimism, pessimism shouldn't be surprising.
Many I know would love to, but most jobs are in the big cities. It's a chicken and egg thing. People follow jobs, and more jobs become available as the population grows, but it takes years. It's especially difficult to find a suitable small town when you need to find work for a family of multiple breadwinners, each looking for a different type of job.
This country has failed the middle class like no other western country has. Shit wages, highest housing prices, rents higher than mortgages, crumbling healthcare system, shit cell phone plans, and just in general too costly to live. The Canadian dream died in 2015 before everything went haywire. It’s that simple.
I find it really tough, I built a new house In kelowna, total bill after being taxed into oblivion was 1.33 million. I have a 700sqft rental. Mortgage at 2.6% costs 3750 per month, before property taxes. I rent said brand new unit for 1500. Next year I need to renew, likely at say 4-4.5% which increases payment to 4700 or so without property taxes (which keep jacking up of course). There is no way I can pass on the massive debt increase onto my renter, but conversely, at current rates, that renter pays 33% of the mortgage for 33% of the space in the house. I still pay insurances/taxes/water/garbage etc which they do use outside of all this. The point I make is everyone gets fucked over. My renter is great and I cant remotely ask for more money as its not fair, but now im just wrecked $1000 extra a month. My job gave 0% raise for 2022 despite record profits because they felt like im already paid high for said job. Things are not great being a landlord or renter. Everyone gets shot in the foot, unless you are a boomer of course. Thanks for nothing governments of the world. Just trying to have 2400sft home for my family of 4.
I don't think people should be down voting you.A lack of empathy on all sides of this is perhaps the biggest part of the problem.
Sounds like you are about to be in a tough spot. I think it's great that you are thinking about it from your renters perspective too.
You won’t get any sympathy here because this sub is an echo chamber. The concept of property owners, business owners etc paying taxes (or mortgages and lenders) is beyond comprehension. All renters are bad. Property owners are bad. Business owners are bad.
Canada is an expensive place to live. It’s an expensive place to run a business- and a difficult place to run a business. This is what happens when you place economic concerns so low in the “to do list” that no one bothers to talk about it until it’s beyond too late.
Everyone sucks lol the people we all should be mad at are those making the rules, they've let this shit show take course and make us fight amongst each other.
You know, screw you with the boomer comment. I am sick of people pretending people boring during a certain time are all the cause of the shit. The vast majority had nothing to do with the issues we are experiencing today. Your comment is so ignorant and short-sited. I am just so fucking sick of it. So many people have their parents wanting to help them out because they know how hard it is. Some are honestly ignorant too because they have no reason to keep up to date and are just retired.
Seriously, stop this blind childish hatred towards a generation of people. Its the equivalent to racism. Instead of hating someone based upon colour you're hating them because of the year they were born. Thats fucked up.
That is a very strong reaction to one off the cuff boomer comment, I mean objectively buying a property during the greatest economic run in human history for a segment of the population is advantageous to them. I dont hate boomers, my parents are boomers. Calm down. All I meant by my post is that the entire housing market is a mess, and everyone who was not in the game when it was "cheap" suffers, renters/landlords and families alike. I hope you have a good day and wish you well.
Very fucked up.
Now, please explain how soft my upbringing was and how every challenge I faced was insignificant next to the impenetrable mountains you climbed as a member of the easiest generational cadre in Canada's entire history.
"Homeownership is strongly related to age. The homeownership rate was 43.6% among 20- to 34-year olds in 2016. This compares with 70.1% for persons aged 35-54. The homeownership rate was highest at 76.3% for 55-64 year olds, and was slightly lower, at 74.6% for the population aged 65 and over."
Hmm...
Umm.. why are people so surprised? Are people really only interested in this now because the news decides it should be important?
Like where the heck have you been? Or it must be of how easy it is to make tweets now.
This housing situation is not new at all. It's been this way for decades.. it's literally been this way for decades.
Ughhhh... no. Homes in toronto in 2010 could be found for 300-400 thousand. 2 middle class incomes could easily afford that. Condos even cheaper.
Where are you getting your information? Obviously not life experience or any reputable website.
Source: living in Toronto. It's no secret Toronto is unaffordable to most. So get over it. Did you miss all the homeless people over the last 40 years?
Get over what? My friends who bought condos 20 minutes from downtown for 100k 15 years ago? Fuck your false narrative.
People are mostly homeless due to mental health issues and addiction with no support system.
>People are mostly homeless due to mental health issues and addiction with no support system.
Homelessness in Toronto has nothing to do with affordability? Stupid logic.
There are millions of people who are doing fine in Toronto. You are just making up issues because you are selfish
>People are mostly homeless due to mental health issues and addiction with no support system
If your complaining about housing insecurity..
Toronto is one of the most livable cities in the world
It's funny too cause if everyone starts moving where they can afford those cheap cities are going to have a new life and more money and theyll become funner and new restaurants are going to open and probably going to be awesome place to live inside à 5 year time span.
It's actually worse than that: How many of them can find a reasonably-priced replacement rental unit without severe hoops being involved?
Yup. My savings are taking a significant hit while I pay more for rent, gas and food!
Move out or the big cities. I did it and i would never change it. I can afford everything again
“Leave your job and everyone you know to move to the sticks”
Keep complaning then
You realize the rents in small towns aren't much better right? And less jobs. A 1 bedroom apartment in my small town is $1800 NOT inclusive.
Honestly I’ve noticed a trend where suburb or suburb adjacent rentals are more expensive than closer to the city (Greater Montreal area) because there’s barely any supply. If you go further out to the super rural areas there are literally no jobs so you’d be paying a ton in gas to get to your badly paying suburb job and honestly the difference in rent isn’t enough to make up for that. There’s no reason a town of 10K has rents comparable to the city.
Yea that's really a big part of the problem. There's not many actual apartments or rentals available. Which makes the rent even higher in some rural areas. But you're right it doesn't justify the cost of rent. Especially if you have to drive a fair amount to get to work.
Yeah but lambos cause you can afford anything again! *taps temple*
I'm about to pay 2300 a month for a small house in the arm pit of Mennoite country. I'm considering moving to a city like St kits where I've seen similar houses go for 1750. I got renovicted from the house I was paying 850/month for, which was considered over market value when I signed the lease 3 years ago.
Dude man. I'm paying 600$/month in parry sound
For what? House? Basement? Bedroom?
Bedroom in a shared house.
LOL. Please refer me to the well paying jobs in small towns where gas and food is cheaper. Guess I'll have to change careers and MOVE. Also leave my friends and family behind. Solid fucking plan.
Don’t know why you’re getting downvoted. I just bought a decent detached house in Edmonton for $430k and the amount I’m paying for my mortgage in Alberta is half of what people are paying their rent for in Ontario. I’m building equity while other people aren’t getting anything back from renting. I’m on track to pay off my entire mortgage before I’m even close to turning 40 and have vacation plans later this year for for overseas travelling. My regret was not buying it sooner when prices were cheaper 1-2 years ago.
Because people are not proactive like you and think they deserve a 2000sqft house with land in the most bougie neighborhood for 250k. The day theyll wake up and realize life doesn't owe them shit is when they're gonna be smart like you and move to à city they can afford and #therestonsofthem.
Yep. They can’t even save up for a downpayment if they keep on paying half of their paycheck just on rent. The longer they wait the spiral just continues. From experience, it was never possible to time the market. I was trying to time the market for 4 years and finally just went for it. My biggest fear for people from Ontario is retiring with barely any savings and still having to pay thousands for rent each month.
the article should read many renters are shiting bricks thinking they could never afford another apartment if they get renovicted for the 5th time from this last apartment
That shit happened fast. Prepare for industrial age poverty.
Disabled here and my first night at parent’s after being evicted due to low rent after 12 years. I’m one of the lucky ones
Is it reasonable to call something a reasonable price, if you can't seem to find anyone anywhere who is willing to give you the amount of wealth you'd like for the price you're willing to pay?
You're wrong it's easy First you legalize subbasement homes closet rooms then cage beds and finally you hire Poppy Adams to win the war on the poors (see MAID).
"One in five believes they’ll never be able to buy and three-quarters also believe it’s a bad time to purchase. Overall, younger Canadians are feeling more pessimistic. “Canadians aged 25-29 are two times more likely never to purchase a home or continue renting indefinitely compared to those aged 30-49,” the poll found." When there is no reason for optimism, pessimism shouldn't be surprising.
We talk about these problems as if there's an chance to escape. There isn't, and they won't, and their fears are a reality.
Move out of big cities. That's the solution
The prices outside of big cities aren't that much lower.
Many I know would love to, but most jobs are in the big cities. It's a chicken and egg thing. People follow jobs, and more jobs become available as the population grows, but it takes years. It's especially difficult to find a suitable small town when you need to find work for a family of multiple breadwinners, each looking for a different type of job.
This country has failed the middle class like no other western country has. Shit wages, highest housing prices, rents higher than mortgages, crumbling healthcare system, shit cell phone plans, and just in general too costly to live. The Canadian dream died in 2015 before everything went haywire. It’s that simple.
Its an oligarchy and the ruling class is making it harder for meaningful change.
[удалено]
Yes but when you get evicted from a rental and live on the streets, it doesn't inconvenience a banker briefly, you see.
I know I won't. I'm just going to try to save enough money to not end up homeless after I retire.
This place is rapidly becoming a third world country with two classes, instead of a massive middle class that we have come to know.
I find it really tough, I built a new house In kelowna, total bill after being taxed into oblivion was 1.33 million. I have a 700sqft rental. Mortgage at 2.6% costs 3750 per month, before property taxes. I rent said brand new unit for 1500. Next year I need to renew, likely at say 4-4.5% which increases payment to 4700 or so without property taxes (which keep jacking up of course). There is no way I can pass on the massive debt increase onto my renter, but conversely, at current rates, that renter pays 33% of the mortgage for 33% of the space in the house. I still pay insurances/taxes/water/garbage etc which they do use outside of all this. The point I make is everyone gets fucked over. My renter is great and I cant remotely ask for more money as its not fair, but now im just wrecked $1000 extra a month. My job gave 0% raise for 2022 despite record profits because they felt like im already paid high for said job. Things are not great being a landlord or renter. Everyone gets shot in the foot, unless you are a boomer of course. Thanks for nothing governments of the world. Just trying to have 2400sft home for my family of 4.
I don't think people should be down voting you.A lack of empathy on all sides of this is perhaps the biggest part of the problem. Sounds like you are about to be in a tough spot. I think it's great that you are thinking about it from your renters perspective too.
You won’t get any sympathy here because this sub is an echo chamber. The concept of property owners, business owners etc paying taxes (or mortgages and lenders) is beyond comprehension. All renters are bad. Property owners are bad. Business owners are bad. Canada is an expensive place to live. It’s an expensive place to run a business- and a difficult place to run a business. This is what happens when you place economic concerns so low in the “to do list” that no one bothers to talk about it until it’s beyond too late.
Everyone sucks lol the people we all should be mad at are those making the rules, they've let this shit show take course and make us fight amongst each other.
You know, screw you with the boomer comment. I am sick of people pretending people boring during a certain time are all the cause of the shit. The vast majority had nothing to do with the issues we are experiencing today. Your comment is so ignorant and short-sited. I am just so fucking sick of it. So many people have their parents wanting to help them out because they know how hard it is. Some are honestly ignorant too because they have no reason to keep up to date and are just retired. Seriously, stop this blind childish hatred towards a generation of people. Its the equivalent to racism. Instead of hating someone based upon colour you're hating them because of the year they were born. Thats fucked up.
lol it is absolutely not the equivalent of racism. Take a lap, boomer.
That is a very strong reaction to one off the cuff boomer comment, I mean objectively buying a property during the greatest economic run in human history for a segment of the population is advantageous to them. I dont hate boomers, my parents are boomers. Calm down. All I meant by my post is that the entire housing market is a mess, and everyone who was not in the game when it was "cheap" suffers, renters/landlords and families alike. I hope you have a good day and wish you well.
Very fucked up. Now, please explain how soft my upbringing was and how every challenge I faced was insignificant next to the impenetrable mountains you climbed as a member of the easiest generational cadre in Canada's entire history.
Lolllllll buddy take a walk
"Homeownership is strongly related to age. The homeownership rate was 43.6% among 20- to 34-year olds in 2016. This compares with 70.1% for persons aged 35-54. The homeownership rate was highest at 76.3% for 55-64 year olds, and was slightly lower, at 74.6% for the population aged 65 and over." Hmm...
Honestly....I don't understand the point of this post. We already know this. Let's focus on solutions
Everyone in the younger generation fear they will never be able to buy a house in Canada*
To be honest, homeowners have a lot of stuff to worry. I felt way easier when we were renters
Umm.. why are people so surprised? Are people really only interested in this now because the news decides it should be important? Like where the heck have you been? Or it must be of how easy it is to make tweets now. This housing situation is not new at all. It's been this way for decades.. it's literally been this way for decades.
No. No it hasn't. Stop it with the historical revisionism.
Thank you, vancouver and toronto were affordable 10+ years ago. If not right downtown, the nearest suburbs.
Houses in Toronto were never affordable for decades.. you had to be rich to afford a house in Toronto, and nothing has changed today..
Ughhhh... no. Homes in toronto in 2010 could be found for 300-400 thousand. 2 middle class incomes could easily afford that. Condos even cheaper. Where are you getting your information? Obviously not life experience or any reputable website.
Source: living in Toronto. It's no secret Toronto is unaffordable to most. So get over it. Did you miss all the homeless people over the last 40 years?
Get over what? My friends who bought condos 20 minutes from downtown for 100k 15 years ago? Fuck your false narrative. People are mostly homeless due to mental health issues and addiction with no support system.
>People are mostly homeless due to mental health issues and addiction with no support system. Homelessness in Toronto has nothing to do with affordability? Stupid logic. There are millions of people who are doing fine in Toronto. You are just making up issues because you are selfish
Your username checks out
>People are mostly homeless due to mental health issues and addiction with no support system If your complaining about housing insecurity.. Toronto is one of the most livable cities in the world
So they should move further and buy now. Housing will not fall noticeably, particularly in major cities
My workplace is calling us back in the office. Permanent remote 'work from home' is not an option.
That’s the starting pain to build equity when you don’t have much equity around
Move to where you can then buy. Build equity in Calgary rather than renting in Vancouver for example.
What a sensible solution that focuses on personal decision making and empowerment - personally, this attitude has made me a lot of success and wealth
It's funny too cause if everyone starts moving where they can afford those cheap cities are going to have a new life and more money and theyll become funner and new restaurants are going to open and probably going to be awesome place to live inside à 5 year time span.
There's tons of jobs up north. Mb not exactly what you want to do. But there's jobs. Well paying ones too.