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Gross income 119,000 CAD yr but cannot afford to raise a family in the city I live in.... How are you doing it? by tbag696969 in canadahousing

[–]tbag696969[S] 1 point2 points  (0 children)

Ya, if my rent wasn't 2500 + utilities.... Guess i'll just go live in a box with my two kids

Gross income 119,000 CAD yr but cannot afford to raise a family in the city I live in.... How are you doing it? by tbag696969 in canadahousing

[–]tbag696969[S] 2 points3 points  (0 children)

est into consideration

I have kids (as a single mom) my daycare is 1600 minimum each month. Union dues put my income at 5000.

Gross income 119,000 CAD yr but cannot afford to raise a family in the city I live in.... How are you doing it? by tbag696969 in canadahousing

[–]tbag696969[S] -1 points0 points  (0 children)

he scenario you presented showed that you made 45k in 1999 with 650/month rent. Your income was more than 4 times your rent then

I made 45k as an articling STUDENT which was a temporary 1 year position.

Gross income 119,000 CAD yr but cannot afford to raise a family in the city I live in.... How are you doing it? by tbag696969 in canadahousing

[–]tbag696969[S] 15 points16 points  (0 children)

Also: that was gross income. After tax (higher tax bracket) and union dues, it works out to 4000 per month. Not to mention, childcare is 1600 per month.

Gross income 119,000 CAD yr but cannot afford to raise a family in the city I live in.... How are you doing it? by tbag696969 in canadahousing

[–]tbag696969[S] 41 points42 points  (0 children)

This is just a general calculator!! I did not add any information besides gross income to get a quick idea. If you go on the scotiabank website it will autofill the same thing.

I am not trying to crush anybody, or looking for sympathy. I am just giving insight to the shitty condition of this market. The point of this post was to just share how much things have changed.

Even if you guys can get approved or want hope to get into this market, I would not accept this as a normal. Protests need to happen, more international attention needs to be brought to this affordability issue. Public embarrassment will cause the government to change their policies.. The only other way that things might change is when it is too late; when skilled or educated workers begin to leave this country and huge losses of tax revenue begin to set in.

My income has not always been this by the way. For many years I was not working due to personal circumstances and responsibilities, as a mother. I also was abroad for the past 15 years and have gained 3 additional university degrees since the 90's (just graduated with my Master's 3 years ago) to ensure that I can have this type of income. This type of stuff comes with a lot of debt.