The relentless grind
Jan 10, 2023
We've made an argument that 90s or so a family of four could live a good life (suburbs outside major city) on around $120K ($10K/month pre-tax)— BowTiedBull - Read Pinned Tweet or NGMI (@BowTiedBull) January 10, 2023
Now if you have two kids = probably $250-300K.
That's how bad it has gotten. Just basic good food, and vacations once a year https://t.co/Dv7otm5XHd
Same in Canada. The average mortgage payment is now greater than the average income in Toronto.
There was a couple who wrote about how their bank refused to loan them money for a house because their combined income was too low. They make $200,000. That's US$150,000. People used to say that both people in a household need to work because prices are so high. We've reached the point where both people do work and make more money than 98% of households in their province and they still can't get a loan for a house!