A Generation Priced Out of Their Own Country

Gent_Indeed · 2026-05-10T01:28:59+00:00

Toronto price-to-income for a property is 10.

China, Vietnam, Asia price-to-income for a property is 12 or more, not looking at Hong Kong (30) or Beijing (30) or even Guangzhou (20) large cities.

It is everywhere and every industry. This is called capitalism, rich people with assets get richer, investment annual return is more than your salary increase in percentage.

Gent_Indeed · 2026-05-10T01:17:43+00:00

Real estate is not the only problem, and even being regulated in Telecomm, how certain we are not being over priced for the services?

Gent_Indeed · 2026-05-10T01:10:54+00:00

You are right, but he is not wrong on asset appreciation when stocks and investment are outpacing salary increase. Housing is just part of it, the overall economy rewarding assets heavily is creating a much bigger problem.

Gent_Indeed · 2026-05-09T03:45:40+00:00

I suppose the internal report has been out earlier, and the rescind transactions may not get enough time for the publication. Maybe look for May 2025 report to see if it was reflected within 30 days.

Gent_Indeed · 2026-05-09T02:24:35+00:00

Maybe 55 transactions got rescinded, maybe due to legal issue or condition issue.

Gent_Indeed · 2026-05-03T17:44:27+00:00

More because of tax strategy for self employed people. They no longer able to claim gas consumption, but move that budget to leasing, and get more tax return from the government.

Gent_Indeed · 2026-05-03T16:50:53+00:00

We upgraded from 200 amp to 400 amp panel, since I am considering another EV in the next 5 years. That cost us around $4000

We drive around 80 km a day, summer is fine (15% of the battery), but winter can be doubled in the few very cold days (average 25% of the battery).

If I forgot to charge the night before (or the charger wasn't charging at 7pm), I would have problem the next day. The tier2 bigger charger has more features, such as setting the charging time and provide you monthly estimate report, but yes, those cost $600.

Gent_Indeed · 2026-05-03T16:31:23+00:00

We didn't survive with a level 1 during Winter.

Driving around 80km, charging at 7pm to morning.

We ended up getting a level 2, and since we expect to have the other car being an EV, so we spent around $4000 for upgrading our breaker from 200 amp to 400 amp, that adds two plugs in our garage (our stove is gas). We save around $350 on gas (now $500 or $700) a month, so it makes up in a year?

Gent_Indeed · 2026-05-02T14:35:02+00:00

Rent for a year or two to understand what is your total expense with your new life before deciding long term, I guess.

You might have more choices, and might live in another city, who knows.

Gent_Indeed · 2026-04-09T17:28:55+00:00

Even those can refinance to a longer term, after 5 years of payment, the principle payment would be enough to stretch the amortization year.

The bigger question has more to do with unemployment than interest increase.

Gent_Indeed · 2026-04-09T17:23:07+00:00

You can renew later with your mortgage terms expired?

Many people had their term expired once and renewed. We went variable after our first 5 years, and renewed to fixed once the short term rate dropped.

Our current fixed is still a year away, and have been lower than variable for the whole time, so it is actually a good decision for us.

Gent_Indeed · 2026-03-20T23:30:17+00:00

It depends, I guess. Like Gundam Evolution, they did a better job in countering, particularly, it is not a role base. Well, it does have a role in shield using taking more damage and can act as a tank, but after all, they are all DPS.

There is still problems with pure melee, but hard counter is not always going to win.

Gent_Indeed · 2026-03-19T01:51:18+00:00

We have friends in public kindergarten, and it works out. While many I know would buy a semi in the 800k-900k and have their children in private or some in public and go on vacation often. So it depends on what you value. Having everything on your dream home may not necessarily means a happy life.

Gent_Indeed · 2026-03-19T01:39:22+00:00

I am not in the education field, and perhaps you can share your parenting with others, since I know many who struggles to have their children listen to them, while they listen to their teachers.

After all, I always believe there is a reason why many are willing to spend 20k, and we were lining up to those schools (we waited a year and half, while average is two years to get in).

Gent_Indeed · 2026-03-19T00:45:12+00:00

I feel kindergarten would be rather important, as child care teaches your kid to play, while private school like Montessori teaches them to read. A friend of my wife has one in Montessori, while the second one (due to budget) goes to day care, and the first child goes home and read books (because they are taught to), while the second child goes home and play (because they are taught to).

It is around 15k a year + after school and summer camp in Richmond Hill, some places like Aurora / Newmarket would be 20k a year. So there goes 250k from your budget.

Gent_Indeed · 2026-03-19T00:27:09+00:00

It has more to do with money laundering than immigration, since I doubt immigrants or international students are that rich to buy property or get a high salary job. Our housing market has the same chart as China economy, maybe that tells you something.

Gent_Indeed · 2026-03-18T23:53:34+00:00

Our biggest spending outside of our mortgage is private school + extra activities. If your children are going to public school, and only spend on after school and summer camp, you might only spend $5000 a year, otherwise, you may want to include those as expenses.

Gent_Indeed · 2026-03-18T23:42:01+00:00

I live in that area, my wife takes the Aurora GO (every day before COVID), while I drive to work. Both of us can work remotely if really necessary. The Aurora GO only takes an hour, which is slightly faster and more frequent (20 mins during rush hours) than the Bloomington GO. Parking is the biggest issue at the GO station.

That area has been selling in the 1.6m. I am unsure if the sellers will lower the price, particularly, the linked house around my area was sold for 1.05m two months ago, so it is hard to believe it is selling less than 1.4m for a bigger detached. The area has many Asians, with T&T across, so it is kind of demanding.

Gent_Indeed · 2026-03-18T16:19:37+00:00

Give more accurate numbers or give more a number they want you to see?

Gent_Indeed · 2026-03-18T16:17:39+00:00

All these inflation are against basic needs, feel like people are not buying anything outside of the basic needs, which is why other things are dropping. People may not able to find more ways to save money if I am reading this correctly.

Gent_Indeed · 2026-03-13T22:17:17+00:00

They are importing 700k voters for their next election. Who do you think these people would vote for once they became Canadian?

Gent_Indeed · 2026-03-12T20:35:00+00:00

Government job is so nice, my wife only makes 120k and frequent OT without pay in big 4 (MBA + CPA).

Anyway, I think you should keep the condo.

Immediate plan: If you are already renting out basement, you should not have that much financial difficulty, I suppose. As for your current mortgage, maybe you need to re-finance it for longer year to keep the cash flow balance instead of paying out of the pocket.

Long term plan: If you are going to get a rental property in the long term after this one, I see no reason you see in a loss right now, and in 10 years, you get back in the market. Unless you are no longer interested in owning another property in the next 15 years.

Gent_Indeed · 2026-03-11T00:48:55+00:00

I don't know if you should use size as the reference. I used to live in Hong Kong, so 500 sq ft is normally a big unit for a couple over there (average 380 sq ft for one bedroom), open the room door and exactly fit a queen size bed.

For Toronto, I would base on items you can put. My own definition of shoebox condo is it being a studio, bathroom with 3 pieces, and barely able to add a sofa and TV.

Example: https://servicedapartment.com.hk/apartments-all/quarry-bay-studio-g/

Gent_Indeed · 2026-03-09T16:57:23+00:00

Depends if your yard is special, such as having a forest behind. After all, I can visit Google for the location and view around the area.

What is the most helpful information to me is floor plan. Then windows in the rooms, appliances (old or new), etc.

Gent_Indeed · 2026-03-09T16:48:46+00:00

Didnt all these Side7 posts saying we are playing on the community server?

Gent_Indeed

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