View Single Post
  #81  
Old Posted Apr 9, 2012, 12:01 AM
leftimage leftimage is offline
Registered User
 
Join Date: Feb 2011
Location: MTL
Posts: 776
Quote:
Originally Posted by flar View Post
Everyone thinks they're middle class in North America. Sorry, but if your parents paid for you and your sister's educations and condos, you are not a typical family.
You're right that the term middle-class is way too elastic to have much worth. I have always perceived middle-class as floating around the average income mark (give or take 15%)

I should have been more forceful in my explanation. We ARE a typical middle-class family, as per average household incomes in Canada. Their incomes reflected the average.

Like I said, my parents helped us. They paid for less than 50% of our condos (in my case less than 30%) but I won't deny what a HUGE help this was, especially in regards to the mortgage approval process. What I'm saying is I would have been renting for a decade out of university before having the credit rating/salary required to buy. In this particular case, the savings go beyond the amount given. Even if only 1/5 people in my generation experience similar gains for similar reasons, the effect economic effect on the country will be substantial.

I'll concede that house prices and the cost of education are much more fairly adjusted to income where I am (Montreal) than in Vancouver, or Toronto to a lesser extent.
Reply With Quote