sure but the house isn't income, while $200k is income and enough to buy a house in some parts of this country every 3-5 years, if spent judiciously.
It's so far out the norm of normal income that anyone earning $200k in canada and complaining about the housing situation isn't in touch with what normal people in canada are experiencing and their complaints are ridiculous.
It's like a CEO yelling that you don't know how much they're paying in capital gains tax. It really isn't relevant.
While that income sounds like a lot it doesn't stretch to buying a home every 3-5 years. Are you taking about getting a mortgage? I make more than that but it's unrealistic I'll be owning a fully paid off house in 3-5 years. I could get a mortgage and purchase a house in that timeframe.
After taxes, high COL, sky-high rent, and retirement savings there's maybe a deposit in there.
the average household income in canada is ~$75k. $200k is a lot more "then maybe there's a deposit there". That's paying off a mortgage in record time if thats the priority money. Everyone in canada who is struggling is paying taxes, col, rent, and retirement savings, or they don't even get retirement savings.
Ah yes, the economic trick of buying the "average" house thousands of kilometers away from where I live. The average house where I live starts at four hundred thousand. Much more if you want detached.
Thanks the advice. I'll start purchasing property impractically far from my work. Good idea
It's so far out the norm of normal income that anyone earning $200k in canada and complaining about the housing situation isn't in touch with what normal people in canada are experiencing and their complaints are ridiculous.
It's like a CEO yelling that you don't know how much they're paying in capital gains tax. It really isn't relevant.