Southern breaks down how far you get on a 100k salary in Canada.
Comment: Only a few areas of the Canadian economy have high salaries and it is the ordinary workers who are suffering from house price inflation. If houses and rents were cheap these equations would work out a lot better. Imagine if Canada did not have so many immigrants. Demand for housing would be less and prices would be affordable. Like other Western countries Canada has opened its border to the upper middle class of the entire world and they are flooding in from poorer countries to take advantage of the better living conditions. This jacks up the prices. It is a distortion of the housing market where houses in each country are supposed to be for the local population not the entire world.
[Posted at the
SpookyWeather2 blog, November 1, 2022.]
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