America needs more Labor Unions for better wages, benefits , job security and retirement.....
gfh77665 said:It takes $120k a year income to own a house in Toronto, my Dad owned three at one point on a single blue collar salary 30 years ago. The times have changed, old timer.
You have also made the choice to live (or at least quote a housing statistic) in one of the most grossly overpriced areas in all of North America. There are a lot of very affordable, very retiree friendly areas in the United States (I can't speak for Canada because I wouldn't want to live there no matter what). Down around here housing is very affordable, and property taxes are very low. Once I reach 65 the property taxes are waived and social security income is not taxed. It's one of the reasons we chose to invest and stay in this area instead of chasing higher wages in larger cities.
It's also one of the reasons why we were both fully retired by age 55 and enjoying a significant income-rather than play the flashy car game we chose to invest in our futures early on. Being able to retire comfortably is a choice that everyone can make, but many people don't make that choice.
There are some people who don't understand interest and pay it. There are others who understand interest and earn it.