Boomers: Why don't you buy a house?
[...] average income of Ontarians between the ages of 25 and 34 years has stayed nearly the same for decades, lingering at an average of roughly $50,000 a year. According to the latest data from StatsCan, the yearly income was $50,800 in 2020.
While the average house goes for $1 million.
“It takes 22 years of full-time work for the typical young person to save a 20 [per cent] down payment on an average priced home,” the report reads, which they say is 17 years longer than when “today’s aging population” were their age.
Read that again: 22 years of savings to pay for 20% of an average house. Simply unaffordable. To top it all off, the nefarious Canadian government will be importing 500,000 people every year which will continue to keep wages low and further increase real estate prices.