18 points

20% down payment is ridiculous these days. For the median home of 370k that’s 74k you need to have lying around.

permalink
report
reply
6 points
*

Double that for Canada

$2,172,613 ($1,586,224.75 USD) if you want a detached in the Vancouver area

Condos bring the average down as they only cost $816,356 ($596,021.52 USD) which is pretty affordable as far as housing is concerned around the city

permalink
report
parent
reply
8 points

Good thing wages have kept up with house prices right?

Right?!

permalink
report
parent
reply
7 points

Detached homes shouldn’t even exist in Vancouver metrocore anymore so, it makes sense to be a fortune

permalink
report
parent
reply
2 points
*

It was the Vancouver area so it includes the surrounding areas but you are correct

permalink
report
parent
reply
3 points

It’s not an enormous hurdle for folk that already own a home, but it creates a huge barrier to entry. You can get in for less but then you get to waste obscene amounts of money on PMI. Literally just throwing money into someone else’s pocket for no return.

permalink
report
parent
reply
17 points

West coast is so fucked.

permalink
report
reply
5 points

You need more than 180k to buy a home in LA too. Maybe if you are married and both make over 140k then you can actually afford an 800k condo.

permalink
report
parent
reply
13 points

Glad I got my house two years ago. I was hesitant at the time because houses were going so fast you barely had time to think about it, get second opinions, or really anything.

permalink
report
reply
17 points

At this rate, we will see the exact same comment in two years.

permalink
report
parent
reply
3 points

My wife and I bought our house two years ago too. The market around here has gone utterly bonkers since. If we had tried to save up a while longer like we were originally planning to we would never have gotten there.

permalink
report
parent
reply
10 points

Get in line, Salary. We’re all trying to survive this market, and we were here first. ☝🏽

permalink
report
reply
9 points
*

And that’s just to pay the mortgage, never mind things like food or saving to retire or even the 20% down payment the graphic assumes that you’ve made.

permalink
report
reply

Cool Guides

!coolguides@lemmy.ca

Create post

Rules for Posting Guides on Our Community

1. Defining a Guide Guides are comprehensive reference materials, how-tos, or comparison tables. A guide must be well-organized both in content and layout. Information should be easily accessible without unnecessary navigation. Guides can include flowcharts, step-by-step instructions, or visual references that compare different elements side by side.

2. Infographic Guidelines Infographics are permitted if they are educational and informative. They should aim to convey complex information visually and clearly. However, infographics that primarily serve as visual essays without structured guidance will be subject to removal.

3. Grey Area Moderators may use discretion when deciding to remove posts. If in doubt, message us or use downvotes for content you find inappropriate.

4. Source Attribution If you know the original source of a guide, share it in the comments to credit the creators.

5. Diverse Content To keep our community engaging, avoid saturating the feed with similar topics. Excessive posts on a single topic may be moderated to maintain diversity.

6. Verify in Comments Always check the comments for additional insights or corrections. Moderators rely on community expertise for accuracy.

Community Guidelines

  • Direct Image Links Only Only direct links to .png, .jpg, and .jpeg image formats are permitted.

  • Educational Infographics Only Infographics must aim to educate and inform with structured content. Purely narrative or non-informative infographics may be removed.

  • Serious Guides Only Nonserious or comedy-based guides will be removed.

  • No Harmful Content Guides promoting dangerous or harmful activities/materials will be removed. This includes content intended to cause harm to others.

By following these rules, we can maintain a diverse and informative community. If you have any questions or concerns, feel free to reach out to the moderators. Thank you for contributing responsibly!

Community stats

  • 859

    Monthly active users

  • 568

    Posts

  • 8.9K

    Comments

Community moderators