Quote:
Originally Posted by Gerbs
In the 1990's houses were $300 - 400K.
My current role in accounting & finance paid about $50 - 90K in the 1990's according to google after 5+ years of experience. That was around 8x the lower end of income.
Nowadays. it's like $2,000,000 for the same house but the salary for that role pays only $90 - 150K. Which is 22x the lower end of income.
Send help lol.
I noticed that I could rent my place out at Joyce for $2,000/month + extra parking stalls for an extra $50 - 100/month. Then rent at the Arc by Parq for $2,000ish/month. I find it interesting that the price difference between the two places $550K vs $700K. Seems like nicer condos are better to rent than buy.
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A similar phenomenon was noticed in this thread a few years ago actually, but with SFH. People rather pay $5-7k a month to rent a nice house in the west side than actually buy it because the running costs of a nice house gets quite high up there plus servicing the mortgage.