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A comment on The Uneven Distribution of Canadian Income, Cash Flow, and Net Worth.

Re:The Uneven Distribution of Canadian Income, Cash Flow, an... by nimzoLarsen on Wednesday October 09, 2024 @10:30PM (#41794907)
With the insane growth streak that Canadian real estate has had, I’m not surprised that many households have decent net worth yet poor cash flow.

Lots of people bought households in Toronto / Vancouver for <$500k which are now valued at ~$2M. People are drawing on home equity line of credit to fund their lifestyles (vacations, renovations, new car, etc.)

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Re:The Uneven Distribution of Canadian Income, Cash Flow, an... by earthWindFi on Wednesday October 09, 2024 @10:35PM (#41794934)
The top quintile makes $200k per year in income on average. Even these households would be stretched thin to afford a $2M home.

From what I hear, most younger people in Canada can only afford a home with the help of gifts from parents.

[ Parent | on HN ]