>>Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working for 40k a year.
The starting salary for STEM grads seem to be well above 40K CAD, perhaps even >65K CAD [1].
>>A down payment on a Toronto house should take 24 years to accumulate
When you pair your linked article with the fact that the GTA has experienced net-positive population growth every single year since 1971[1] then it makes a little more sense why property prices have risen and continue to rise inexorably over the years.
I also note that in your linked article a GTA condo downpayment can be accumulated within 4 years at the assumed 10% savings rate for a HHI of $124K CAD, and that's a 2-bedroom condo. If a new grad wants a starter property in the city then perhaps start with the purchase of a studio/1-bed.
The starting salary for STEM grads seem to be well above 40K CAD, perhaps even >65K CAD [1].
>>A down payment on a Toronto house should take 24 years to accumulate
When you pair your linked article with the fact that the GTA has experienced net-positive population growth every single year since 1971[1] then it makes a little more sense why property prices have risen and continue to rise inexorably over the years.
I also note that in your linked article a GTA condo downpayment can be accumulated within 4 years at the assumed 10% savings rate for a HHI of $124K CAD, and that's a 2-bedroom condo. If a new grad wants a starter property in the city then perhaps start with the purchase of a studio/1-bed.
[1] https://www.canadastudynews.com/2017/11/30/stem-graduates-ea...
[2] https://www.fin.gov.on.ca/en/economy/demographics/projection...