Quote:
Originally Posted by MonctonRad
Agreed. Also Median Household Income doesn't translate well into disposable income. You can buy a decent house in NB for $150,000, not over $1M like in Vancouver. We're not living in penury in NB like this statistic would suggest......
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The cost of living is high up in the territories as well. Food costs in Nunavut for example are around 3x the average in Canada.
I've posted this many times but middle class or lower younger people (now under 40 or so) in Vancouver and now Toronto who don't get help from wealthier relatives generally have a poor material standard of living. I know a lot of people in their 30's who have steady jobs and postsecondary education but are living in basements and can't really afford a car.
Even the well off younger people generally only have what would normally have been considered a comfortable middle class or slightly below standard of living 20 years ago. These are the people who make well into the six figures but live in 2 BR condos or rent, maybe own a car, and still aren't having kids if they want them because they can't find suitable housing.
Housing costs are responsible for almost all of this. High housing costs also force people to to live is less convenient areas and commute farther, robbing them of free time.
Younger people are also squeezed by poorer quality jobs and less stability in employment. They work stranger hours, they have to switch jobs a lot, they don't get great benefits (e.g. number of holidays resets down to a base 2-3 weeks because they have to switch jobs every couple years), etc.