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04-10-2022, 06:46 PM
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#21376 | | RS has made me the bitter person i am today!
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Originally Posted by EvoFire  This actually applies to quite a few ppl I've talked to, but we measure inflation on the pho-meter and canto cafe-meter. The price for a bowl of large pho is pretty good representation of overall inflation. | That's hilarious because I compare the price of a large pho to inflation too . Can't get a decent bowl for sub $15 at most places.
Minimum wage = 1 bowl of decent pho or 0.5 Bubble tea.
$100K in 2022 seems to feel like $65 - 70k in 2010 and $85K in 2018/19. For me, I think the new "$100K" goal is around $140 - 160K/Year, where people feel that financial comfort. It would also be ideal to have $5 - 15K of that net income coming from investments that are more tax efficient.
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04-10-2022, 06:56 PM
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#21377 | | Rs has made me the woman i am today!
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If you measure against housing prices yeah it's going to suck, nothing is going to go up 20% year over year. Take housing out and it's not THAT bad,
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04-10-2022, 07:14 PM
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#21378 | | Need to Seek Professional Help
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Originally Posted by PeanutButter Would any of you pay this kind of money for a house like this in Burnaby?
One of my must-haves is a driveway of some sort now, whether it's in the back of the house or the front of the house like this. https://www.redfin.ca/bc/burnaby/509...home/155995346
My buddy thinks i'm crazy though. There's no way he'd spend this money when he could buy an older house on the west side. I really like the Brentwood area though. The pricing on this one seems a little much though. | With 3.7M I rather buy my own lot and build, but I totally understand why someone would spend that much $ on that house.
There are a lot of things to consider. Location is important, and many people have a very limited area in which they would prefer to live in (ie. friends, family, work, schools, convenience, etc). There's the question about timing, and what is actually available on the market that meets their requirements.
I hate corner lots, yet I bought a house on a corner lot because my other options were slim/none when I bought. Yes, there are power lines, and the pictures are misleading, but none of that matters in our market. There isn't enough supply available to be picky.
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04-10-2022, 08:21 PM
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#21379 | | My homepage has been set to RS
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Originally Posted by Alpine With 3.7M I rather buy my own lot and build, but I totally understand why someone would spend that much $ on that house.
There are a lot of things to consider. Location is important, and many people have a very limited area in which they would prefer to live in (ie. friends, family, work, schools, convenience, etc). There's the question about timing, and what is actually available on the market that meets their requirements.
I hate corner lots, yet I bought a house on a corner lot because my other options were slim/none when I bought. Yes, there are power lines, and the pictures are misleading, but none of that matters in our market. There isn't enough supply available to be picky. | Our clinic director is building a house right now and he's paying close to $300 a sq/ft for a 5,000 sq/ft home in coquitlam. So at that price he's paying about $1.5M. Based on that I think you may be on to something.
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04-10-2022, 08:25 PM
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#21380 | | Even when im right, revscene.net is still right!
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Originally Posted by PeanutButter Would any of you pay this kind of money for a house like this in Burnaby?
One of my must-haves is a driveway of some sort now, whether it's in the back of the house or the front of the house like this. https://www.redfin.ca/bc/burnaby/509...home/155995346
My buddy thinks i'm crazy though. There's no way he'd spend this money when he could buy an older house on the west side. I really like the Brentwood area though. The pricing on this one seems a little much though. | When a detach sits for a month.. it’s usually no good.
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04-10-2022, 08:45 PM
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#21381 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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Originally Posted by Gerbs I think a lot of you guys have your own homes now ranging from 1BR to Detached homes. What do you guys consider a high income for individuals and household?
I've been having a dilemma in my head for the longest time that if you take home $XXX,XXX, you should be able to reasonably afford Y (1BR, 2BR, 3Br, Detached). Maybe it's an unhealthy way of thinking about it, but I find it frustrating how individuals can bring in close to $120,000 a year and have to decide on 2-3 of the 4 options (1-2 BR, retirement, kids, hobbies) | This is my view on it. Household income:
$100k = upper lower class
$150k = lower middle class
$200k = middle class
$250k = upper middle class
$300k = lower upper class
$350k = upper class
If you're single and you make $120k a year, that's great, but in reality, $120k is nothing if you're by yourself. You need to get a partner ASAP.
Most people have a cap on how much income they will earn, which means if you want to be financially free, you don't have a choice, you need to increase your level of risk. If you don't increase your risk tolerance, you're not going to be able to achieve your financial goals. So you better up your financial literacy otherwise you're going to be at the poverty line when you turn 65.
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04-10-2022, 08:51 PM
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#21382 | | Rs has made me the woman i am today!
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Originally Posted by PeanutButter This is my view on it.
Household income:
$100k = upper lower class
$150k = lower middle class
$200k = middle class
$250k = upper middle class
$300k = lower upper class
$350k = upper class
If you're single and you make $120k a year, that's great, but in reality, $120k is nothing if you're by yourself. You need to get a partner ASAP.
Most people have a cap on how much income they will earn, which means if you want to be financially free, you don't have a choice, you need to increase your level of risk. If you don't increase your risk tolerance, you're not going to be able to achieve your financial goals. So you better up your financial literacy otherwise you're going to be at the poverty line when you turn 65. | The crazy thing about your list is, a 250k household puts you at like top 2-3% in Canada, and that's only upper middle class in Vancouver.
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04-10-2022, 09:31 PM
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#21383 | | Pull Out Towing. Women rescued for free.
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Originally Posted by EvoFire This actually applies to quite a few ppl I've talked to, but we measure inflation on the pho-meter and canto cafe-meter. The price for a bowl of large pho is pretty good representation of overall inflation. | Just by random conversations last week, I've been using the standard BBQ duck and pork on rice.
Most places are $15-17 for a plate now, when not long ago it was in the $10-12 range.
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix Quote:
Originally Posted by tofu1413 and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing | |
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04-10-2022, 10:37 PM
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#21384 | | RS has made me the bitter person i am today!
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I'm starting to think gross income means nothing, as most people won't make more than $150k in their day jobs. Plus more you make the more taxes you pay. I think having a proper savings plan and investments is more important now a days, especially with such high inflation. Perfect example is real estate and the market. I'm sure everyone who owns a property on here has made 6 digit gains in the last few years. There's no way a regular employee will receive that much more salary increase over the same period of time. Unless you bust your ass and sacrifice your work life balance.
I'm starting to shift my perspective of working harder for money Vs letting money that you have work for you. As the harder you work is not making you rich it's making the company that you work for rich. 
I think trying to build net worth is a higher priority than hope to slave my way up the corporate ladder.
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04-11-2022, 12:05 AM
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#21385 | | Need to Seek Professional Help
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Originally Posted by JDMDreams I'm starting to think gross income means nothing, as most people won't make more than $150k in their day jobs. Plus more you make the more taxes you pay. I think having a proper savings plan and investments is more important now a days, especially with such high inflation. Perfect example is real estate and the market. I'm sure everyone who owns a property on here has made 6 digit gains in the last few years. There's no way a regular employee will receive that much more salary increase over the same period of time. Unless you bust your ass and sacrifice your work life balance.
I'm starting to shift my perspective of working harder for money Vs letting money that you have work for you. As the harder you work is not making you rich it's making the company that you work for rich.
I think trying to build net worth is a higher priority than hope to slave my way up the corporate ladder. | Most need both. You need to slave away long enough to increase your salary so you are able to borrow enough $ to buy into an asset like housing, or be able to max tfsa,rrsp & develop a significant investment portfolio to be able to generate enough income to accomplish what you are referring to. Both require income to start.
Personally, my goal is to own my own property and be debt-free by the time I retire + a decent 6 figure investment account. I can't imagine having to pay market rent in my retirement years. An avg 1 bd condo is 2k/mo today, and in 30 years will likely be significantly more. Let's say it's 2.5k/mo for argument's sake. $30k a year * 20 years = $600k for a roof over your head. Sure, a 1bd basement suite will be much cheaper (say 1.5k/mo * 20 years = $360k), but I don't think that's how any of us envision spending our retirement years. Then you add your lifestyle costs on top of that, and the math becomes scary very quickly. Even if you have a very modest retirement and only spend $1k/month, 20 years = $240k. So in my 1bd basement rental suite example, you will need $600k (either as a lump sum or a mix of a lump sum/income stream) to retire if you have to pay rent.
Last edited by Alpine; 04-11-2022 at 12:11 AM.
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04-11-2022, 12:19 AM
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#21386 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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Originally Posted by PeanutButter Our clinic director is building a house right now and he's paying close to $300 a sq/ft for a 5,000 sq/ft home in coquitlam. So at that price he's paying about $1.5M. Based on that I think you may be on to something. | $300/sqft out in Coquitlam will be a pretty sweet custom home. His lot value today is probably worth ~1.8m + 1.5m to build = 3.3m. If it's in harbour chines or Central Coquitlam there's a good chance I've walked my dog past the house before lol.
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04-11-2022, 12:34 AM
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#21387 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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Originally Posted by Gerbs I think a lot of you guys have your own homes now ranging from 1BR to Detached homes. What do you guys consider a high income for individuals and household?
I've been having a dilemma in my head for the longest time that if you take home $XXX,XXX, you should be able to reasonably afford Y (1BR, 2BR, 3Br, Detached). Maybe it's an unhealthy way of thinking about it, but I find it frustrating how individuals can bring in close to $120,000 a year and have to decide on 2-3 of the 4 options (1-2 BR, retirement, kids, hobbies) | Well we have the fortune (or misfortune) of living in Vancouver, a playground for the wealthy, so it's not a fair comparison and even high-income households get shafted if they don't have support/help from family. I'm sure plenty of people here know families with a net worth of 8 figures.
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04-11-2022, 06:54 AM
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#21388 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by SumAznGuy Just by random conversations last week, I've been using the standard BBQ duck and pork on rice.
Most places are $15-17 for a plate now, when not long ago it was in the $10-12 range. | I call that the HK BBQ Master Index. I remember I used to pay 10.95 for a 3 meat plate and now it's 16 or so. Still worth it though.
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04-11-2022, 07:03 AM
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#21389 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by PeanutButter This is my view on it.
Household income:
$100k = upper lower class
$150k = lower middle class
$200k = middle class
$250k = upper middle class
$300k = lower upper class
$350k = upper class
If you're single and you make $120k a year, that's great, but in reality, $120k is nothing if you're by yourself. You need to get a partner ASAP.
Most people have a cap on how much income they will earn, which means if you want to be financially free, you don't have a choice, you need to increase your level of risk. If you don't increase your risk tolerance, you're not going to be able to achieve your financial goals. So you better up your financial literacy otherwise you're going to be at the poverty line when you turn 65. | https://www03.cmhc-schl.gc.ca/hmip-p...erageAndMedian
Median household income (the most common income) by areas in Metro Van. The neighbourhood breakdown is kinda weird - guessing it's grouped by postal codes but gives you an idea - most neighbourhoods are around the 60-85k range for household income which is WILD. Metrotown is $50k!!!
I can't find the specific data point but about 16% of working Canadians make over 100k/yr. If you're individually over $180-200k then you're basically a 1% - if both earners make over $350-400k combine then you're a 1% household.
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04-11-2022, 07:41 AM
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#21390 | | I subscribe to the Fight Club ONLY
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wow$300 / sq ft right now seems pretty hard to come by. Yes, you can have it build by some asian contractors but you do get what you pay for. I think a good 330-400 is a good gauge esp with the stock and supply situation.
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04-11-2022, 08:37 AM
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#21391 | | I have named my kids VIC and VLS
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Yea 300 is kind of the base for building costs these days.
300 today probably gets you what 240/260 got you 10 years ago
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Dank memes cant melt steel beams
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04-11-2022, 09:03 AM
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#21392 | | Rs has made me the woman i am today!
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Originally Posted by supafamous https://www03.cmhc-schl.gc.ca/hmip-p...erageAndMedian
Median household income (the most common income) by areas in Metro Van. The neighbourhood breakdown is kinda weird - guessing it's grouped by postal codes but gives you an idea - most neighbourhoods are around the 60-85k range for household income which is WILD. Metrotown is $50k!!!
I can't find the specific data point but about 16% of working Canadians make over 100k/yr. If you're individually over $180-200k then you're basically a 1% - if both earners make over $350-400k combine then you're a 1% household. | How old is that data? Metrotown area is really weird as it's going through a huge transformation right now. I wouldn't be surprised if median income was even lower than 50k and in the 30k range if you go a decade back. The chunk of blocks south of the mall and north of Imperial was basically all "lower income" low rise rentals.
Even south of Imperial it's not particularly wealthy as there are a lot of ppl who've been there for decades and bought in when the houses were in the low 6 figures or even 5 figures. You can guess all that because while there are a few new monster houses on 6000-8000sqft parcels, there are a lot of older non updated, not particularly well kept houses where people either don't care, don't have time to care, or don't have money to care.
Reading into the data some more, you can see the a lot of the new areas/higher density new build areas all have fairly high incomes while the older areas are significantly less, to the point that it doesn't make sense for the home prices. It's a lot to do with the demographics. Also of note are the discrepancies between avg and median incomes.
Last edited by EvoFire; 04-11-2022 at 09:09 AM.
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04-11-2022, 09:04 AM
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#21393 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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| https://twitter.com/pierrepoilievre/...425714185?s=21
Even the Cons are piling onto cities who are blocking housing. I find it hilarious to hear them side with the working class - how stupid do they think I am?
I'm looking for a Federal politician who will ban SFH-only zoning across the entire country. There's no good reason why a piece of land should be restricted to ONLY a detached single family home.
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04-11-2022, 09:05 AM
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#21394 | | in the butt
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Originally Posted by supafamous | Pretty sure this has not been updated since 2016
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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04-11-2022, 09:05 AM
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#21395 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by EvoFire How old is that data? Metrotown area is really weird as it's going through a huge transformation right now. I wouldn't be surprised if median income was even lower than 50k and in the 30k range if you go a decade back. The chunk of blocks south of the mall and north of Imperial was basically all "lower income" low rise rentals.
Even south of Imperial it's not particularly wealthy as there are a lot of ppl who've been there for decades and bought in when the houses were in the low 6 figures or even 5 figures. You can guess all that because while there are a few new monster houses on 6000-8000sqft parcels, there are a lot of older non updated, not particularly well kept houses where people either don't care, don't have time to care, or don't have money to care. | I think it's from 2016 as I couldn't find anything from the latest census (2021) that was as detailed.
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04-11-2022, 09:11 AM
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#21396 | | Rs has made me the woman i am today!
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2016 was a very different time. I make more than double what I made back in 2016. I was just getting into our first home and getting married. Life was simpler  | |
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04-11-2022, 09:17 AM
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#21397 | | I told him no, what y'all do?
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Originally Posted by PeanutButter This is my view on it.
Household income:
$100k = upper lower class
$150k = lower middle class
$200k = middle class
$250k = upper middle class
$300k = lower upper class
$350k = upper class
If you're single and you make $120k a year, that's great, but in reality, $120k is nothing if you're by yourself. You need to get a partner ASAP. | my peasantry is confirmed 
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http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity | Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat
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04-11-2022, 09:30 AM
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#21398 | | Performance Moderator
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You can always sign up for serfdom at PeanutButter’s future presidential palace
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04-11-2022, 10:18 AM
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#21399 | | I answer every Emotion with an emoticon
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I'm below PeanutButter's poverty line.
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04-11-2022, 10:46 AM
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#21400 | | Need my Daily Fix of RS
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Originally Posted by supafamous https://www03.cmhc-schl.gc.ca/hmip-p...erageAndMedian
Median household income (the most common income) by areas in Metro Van. The neighbourhood breakdown is kinda weird - guessing it's grouped by postal codes but gives you an idea - most neighbourhoods are around the 60-85k range for household income which is WILD. Metrotown is $50k!!!
I can't find the specific data point but about 16% of working Canadians make over 100k/yr. If you're individually over $180-200k then you're basically a 1% - if both earners make over $350-400k combine then you're a 1% household. | Look at Richmond, probably one of the lowest household income in the lower mainland. Household Income:Housing Prices highly dis proportioned.
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