Canada has become such a shithole and I can’t wait to get out
…and go where exactly?
Things are not easy here but unless you are buying into the Conservative narrative that even the bad weather is Trudeau’s fault, “getting out” is not really a better option…
Iceland via youth mobility visa
Alternately my sister in law lives in Finland so have a couple different options
Hmm I’m sure a 12 month change of scenery would be great… Not sure how that will change your prospects in the mid term
Pretty much except Iceland and Finland
PS if you’re younger than 31 you can get the youth mobility visa to work in Iceland, that started only a few months ago, which is what I’m planning on utilizing
Only open to so many applicants per year, so hopefully you get in. Happiest rating, but also somehow most murders…maybe those correlate
multiple degrees. established in my industry. “well paid” among my peers… Renovicition means I’m living with my parents in my 30’s. This is madness.
Exact same situation. 29 making over six figures and renoviction means back to my parents or sleeping on the street
As someone making roughly half of 100k per year. I can afford my small apartment, to shop wisely for food, and carpool to work and with that I manage to save 1000 or more a month. I don’t know the specifics of your situation but you should still be able to live on your own with a 100k salary.
Only individuals should be able to buy and own residential property. Not corporations, not numbered companies, just people. They can rent them out, etc but don’t get the same protections of corporations. It becomes personal at that point. Banks generally will finance about 20 properties this way before they decide the liability becomes too much. This protects small landlords still, but gets all the big money out.
Then the rental market will price itself fairly based off of that and keep the rental market in check, but when the corporations own both sides of the coin they set the price.
Many of our MPs are landlords themselves, which may influence how… reactive they are to the issue https://www.landlordmps.ca/data-analysis
Our economy is over-reliant on housing as an investment in general, so getting people to do anything about it is hard to begin with https://www.oecd.org/housing/policy-toolkit/country-snapshots/housing-policy-canada.pdf
It’s not looking good. We’re in so deep already. A lot of people will lose their homes either way.
It’s like the story of a Vancouver woman who lived in an apartment in English Bay. She was a server when she moved there 10 years ago, and had no issue affording it. Over the years she got settled, went to school while working and became a lawyer.
She eventually had to move out of the same apartment as it was no longer affordable, despite becoming a lawyer and earning significantly more money.
If she can’t keep pace with inflation going from a server to a lawyer, not sure what hope the rest of us would have.
Most of Europe rents, even people who make 6 figures and live in big cities…there’s absolutely no stigma attached to renting, in contrary people who decided to get a 35 year mortgage for an overpriced house (which often isn’t even a single house but a semi or a house with 3 ft of land around it) to live on the outskirts among conservative simpletons are thought of as suckers… It helps though that in the EU renters have rights and landlords are extremely limited in terms of raises or contract changes.
I’ve seen European Redditors say that European rental apartments tend to have better layouts and separation between units.
Probably better sound proofed too as they were built as multi units from the start instead of being a regular house renovated into apartments.
If you can find such an asset for a fair price, then it might be a good investment, but that’s like hitting the lottery at the end of a bubble. There’s no guarantee your asset will rise in value or even just stay the same. It also depends on one’s financial situation. I pay about 15% of my net income on rent for nice flat in a modern building from 2021. If I could have the same living standard with a mortgaged asset for the same 15% of my net monthly income, I would consider buying, but it’s impossible even if I’d put down 25% cash upfront. House prices are crazy in Europe, I heard it’s due to all kinds of shady organisations like the Russian Mafia parking and washing their money here.
This is a bit of a fallacy. In a normal market, the rent for a home is less than the costs of home ownership (mortgage + maintenance + taxes) and that saved money can be used to purchase other assets.
Until the real estate mania of the last few years, if you followed this strategy, you would not be any worse off than the person who bought their home.
I personally would much rather have equity in more fungible assets than a home. Owning a home ties you to a specific location, and can’t easily be sold in an emergency. Plus it’s not a very diverse portfolio if most of you wealth is in a single property
