CanadaPolitics

The question is really best answered by asking did the person own real estate before the pandemic hit?

The financial chasm that ripped apart society along the lines of real estate ownership is very real

The cost of living in Canada is high but so is the standard of living, one of the highest in the world. We pay high taxes but we get a lot of services from the government. Housing is very expensive. Groceries are expensive.

I'm fortunate that my career went well and I'm a DINK during this and it could be weathered, but it's a bit rough. In Ontario, rent control was removed and it seemed to lead to the building of a bunch of "luxury" apartments and very little development under that tier which seemed to drive up average pricing even more. The kind of apartment I was paying $1500 for before the pandemic could be $2500 now. Things like meats and cheeses seem to be increasing in price weekly, anywhere from 30-50% more than it was a few months ago.

It didn't hurt me hard, our household was already putting 50+% into savings given no kids, no car, and very little recreation outside of the apartment; however, I see lots more of my students working through school than I did previously, friends in the lower income range that lived a little outside their means have had to make some pretty big lifestyle cuts to afford rent. Everyone I know living in rent-controlled buildings (in Ontario, those built before 2018 when the regulations changed) are pretty afraid to move and have had contentious relationships with landlords looking to ride inflation to bigger profits.

It's just a shame it's happening simultaneously with (or in part because of) the Ontario government working to cut many social services and privatize health care.

It's not awesome. Lots of belts being tightened.

If you don't live with someone else (partner or roommates) you're going to have a bad time unless you make well above the average income for the city you choose.

There are still a few places that are more affordable, but they aren't particularly desirable locations (Saskatoon for example)

https://www.ctvnews.ca/canada/renters-in-36-of-canada-s-largest-cities-can-t-afford-to-buy-a-starter-home-report-1.6451229

FTA: The unaffordable cities:

1- Richmond Hill, ON 2- Oakville, ON 3- Markham, ON 4- Vaughan, ON 5- Richmond, BC 6- Vancouver, BC 7- Toronto, ON 8- Milton, ON 9- Whitby, ON 10- Coquitlam, BC 11- Burlington, ON 12- Brampton, ON 13- Mississauga, ON 14- Burnaby, BC 15- Ajax, ON 16- Surrey, BC 17- Langley, BC 18- Oshawa, ON 19- Saanich, BC 20- Kelowna, BC 21- Abbotsford, BC 22- Guelph, ON 23- Hamilton, ON 24- Waterloo, ON 25- Cambridge, ON 26- Barrie, ON 27- Kitchener, ON 28- Ottawa, ON 29- London, ON 30- St. Catharines, ON 31- Montreal, QC 32- Windsor, ON 33- Kingston, ON 34- Halifax, NS 35- Greater Sudbury, ON 36- Longueuil, QC

And the affordable cities:

1- Edmonton, AB 2- St. John’s, NL 3- Regina, SK 4- Saguenay, QC 5- Trois-Rivières, QC 6- Quebec City, QC 7- Lévis, QC 8- Winnipeg, MB 9- Saskatoon, SK 10- Gatineau, QC 11- Calgary, AB 12- Sherbrook, QC 13- Terrebonne, QC 14- Laval, QC

I bought in Winnipeg. It's been working for me. :)