>> Median salary in Ontario is $49,088, before taxes, university expenses of 27kCAD are insane for me in that scale!
What's also insane is that the average detached home in Toronto just hit over 1M last week (http://www.thestar.com/business/2015/07/07/toronto-average-h...). I live just north of Toronto near a highly desirable high school, and there are usually bidding wars on homes. A lot of houses sell over asking. Getting 100K over asking is not unheard of.
I bought my house 10 years ago (and thought I was overpaying back then), and I don't know how people can afford to buy a home these days in the GTA. In the decade that I bought my house, property values in my neighborhood have doubled and then some, and I'm pretty sure salaries have not.
A lot of young families live in my area, and I can't imagine how expensive tuition will be when their small children are ready for a post-secondary education. Juggling a gigantic mortgage and saving for your kids' education is incredibly tough these days.
What's also insane is that the average detached home in Toronto just hit over 1M last week (http://www.thestar.com/business/2015/07/07/toronto-average-h...). I live just north of Toronto near a highly desirable high school, and there are usually bidding wars on homes. A lot of houses sell over asking. Getting 100K over asking is not unheard of.
I bought my house 10 years ago (and thought I was overpaying back then), and I don't know how people can afford to buy a home these days in the GTA. In the decade that I bought my house, property values in my neighborhood have doubled and then some, and I'm pretty sure salaries have not.
A lot of young families live in my area, and I can't imagine how expensive tuition will be when their small children are ready for a post-secondary education. Juggling a gigantic mortgage and saving for your kids' education is incredibly tough these days.