Some 4.5M Japanese aged between 35 and 54 are living with their parents

Re:Some 4.5M Japanese aged between 35 and 54 are living with... by sanderjd on Wednesday April 19, 2017 @01:04AM (#14145547)

Where do you live? I know 20-somethings with stable jobs. Housing is expensive, but with good credit, it isn't hard to get a pretty big mortgage, even with much less than 20% down. I'm usually sympathetic to this sort of argument - I do think it's quite a bit harder for young people to get started than it was in the fairly recent past, but your comment seems hyperbolic.

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Re:Some 4.5M Japanese aged between 35 and 54 are living with... by sandworm101 on Wednesday April 19, 2017 @01:20AM (#14145624)

Canada - Average house price in the country just hit 550k, and that includes all the stuff in the VAST country. Within the cities, the only places for young people to find jobs, prices are closer to 1mil.

http://www.cbc.ca/news/business/crea-march-figures-1.4073540

For a 400k loan, with 100k down, a Canadian bank will want to see an income of at least 80k/year before taxes. That number (80k) puts one in the top 10% of earners. So to buy the average house (500k) one must be in the top 10% of earners. To buy the average house in a city you better earn closer to 180k, putting you well into the top 1% of earners. So for the vast majority of young people home ownership isn't a reasonable option even in the long term.

Anyone can play around with the numbers here: https://tools.td.com/mortgage-affordability-calculator/

The example I always return to is the military. An officer in a nation's military should be able to buy a house and have a family in a degree of comfort. That was my grandfather. Today, officers rent apartments in full knowledge that home ownership will never happen so long as they remain officers. An RCAF pilot, an elite officer in any military, earns between 75 and 100k. With a young family and perhaps a student loan, that fighter pilot won't ever own a house. It is worse for naval officers, who generally need to live near cities/ports.

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Re:Some 4.5M Japanese aged between 35 and 54 are living with... by e15ctr0n on Wednesday April 19, 2017 @03:34AM (#14146116)

As many as 78% of adults in the Toronto area are still living with their parents, a trend "driven more by high house prices and an increasingly unstable job market for young adults".

Toronto’s Housing Boom Refills Empty Nests, Driving Prices Even Higher | March 12, 2017 https://www.nytimes.com/2017/03/12/world/canada/torontos-hou...

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