According to Trans Union Car Loans and mortgages are not included in this debt.
How tight is your paycheck in Toronto and Vancouver?
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- Dec 28th, 2013 12:00 am
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- provocateur [OP]
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- rems
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This says otherwiseprovocateur wrote: ↑According to Trans Union Car Loans and mortgages are not included in this debt.
http://www.cbc.ca/news/business/consume ... -1.2470293
That would be about $1,100 more than the $27,743 of debt consumers are expected to have at the end of this year.
TransUnion says car loans are expected to drive the increase in such debt, which also includes credit card debt, lines of credit, student loans and the like
- provocateur [OP]
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- Toronto
Apologies. Car loans are included
- olek86
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- Sep 16, 2012
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well if there offering zero percent financing on a 5 to 7 year lease, are you really surprised that people are jumping on the bandwagon of getting new cars.provocateur wrote: ↑Apologies. Car loans are included
- nickaslt
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People who barely survive cannot afford expensive internet to access redflagdeals, that's why nobody chooses that option
- insurance1
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- Dec 11, 2010
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Agreed, Mark77 gives such terrible advice! Anyone who has listened to him has missed out on a hundred thousand dollars in real estate gains over the past five years!madara wrote: ↑Yes. We can buy what we want and does not have to go on a budget, specially on groceries and food.
Married with a 3-yr old son, who requires private therapies and day care.
Emigrated in April 2007. Only had $18K in our pockets. Bought a house on 2008 with 0% down and 25-yr amortization.
So glad we didn't listen to some people(read:Mark77) here. Doing double-up payments from the beginning..
- nalababe
- Deal Guru
- Dec 31, 2005
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Lived in Toronto as a couple since 98...never "tight" but we lived within our means...and still do...just now our means are much higher...
- Deal Grabber
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- Mar 2, 2005
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Great post, my feelings exactly.choclover wrote: ↑While I feel that I live comfortably in GVR, I do find that everything costs a lot here. I have been living here almost my whole life and I can't still get over how much everything costs. Housing, for one, is crazy but I think everyone has just accepted that. However, other things are expensive too. Gas is expensive, food--good food, like real fruit and vegetables--is expensive, parking is expensive, property tax if you own is way expensive. I think life here just costs a lot. We're too settled to move (i.e. we have ties to the city in terms of owning a place and working in the community) but when you compare other cities, it is always a reminder.
- fotoapparat
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- Apr 4, 2010
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I will highlight that a lot of these stats can be difficult to understand. Toronto for example is broken up into a number of boards http://www.torontorealestateboard.com/b ... trict_map/ . So, is "Toronto" the city of Toronto or Toronto, Peel, York and Durham. In Vancouver, there is the Fraser Valley REB and the Greater Vancouver REB. So when you look at the statistics for each city, what is included? Most of these reports don't state that. And, if you're not including suburbs, yes you're going to have average higher prices. Calgary for example, is one city and one real estate board, so the stats you get from there are cleaner.
I lived in Vancouver and in the GTA and now Guelph. The cost of a home in Durham, York and Peel are easily affordable for an average couple. Living in Vancouver, with the wage bump you'd typically see in GVRD, North Van, New West, Surrey and the Eastern Cities are all affordable for an average dual person income home. West Van and Van West are out of reach, as is the great neighbourhoods in Toronto.
Single parents/Single incomes, people who don't work hard, people who spend too much money on car loans, bottle service, etc. excluded.
I lived in Vancouver and in the GTA and now Guelph. The cost of a home in Durham, York and Peel are easily affordable for an average couple. Living in Vancouver, with the wage bump you'd typically see in GVRD, North Van, New West, Surrey and the Eastern Cities are all affordable for an average dual person income home. West Van and Van West are out of reach, as is the great neighbourhoods in Toronto.
Single parents/Single incomes, people who don't work hard, people who spend too much money on car loans, bottle service, etc. excluded.
- Supahhh
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- coupondiva2012
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- Yellowknife
- starchyk
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I live in downtown Toronto, I can make ends meet and give myself a fairly generous "fun" allowance in my budget, but things are tight(ish) mostly due to massive student loans. My rent is about 28 percent of my base income. I will be ballin' when I get the dang loans paid off!
- iownyou
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who says you need to pay off your debt with your income..... as long as you have positive cash flow..ball.as hard as you can... you only live once.....
- bankonit
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- Feb 5, 2013
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Vancouver is the easiest place to live with low income. With low income, the city will place you in a 750,000 waterfront condo, give you free food and free access to sports for your kids, you live in the most expensive area of the world, walking distance to every amenity, supposedly the poverty advocacy/charity business is over 1 billion in revenue in the city!... It is the people in the middle class who can't afford this city. Since Gregor, we have 10s of thousands more poverty ridden people (build social housing and they will come; cite the lack of social housing to get political motivation to build more social housing and more come, then we need to build more, rinse and repeat...). How do we pay for it? Get developers to pay exorbitant development fees, commit to building GLBT community centres, gift units to subsidized housing, etc. so that any condo built costs a few hundred thousand more putting even more pressure on the middle class.
Now, when the averages are stated, they get skewed by the low income people who bring average income down, and the property seems more expensive since it includes the 'stealth taxation' of development fees.
Now, when the averages are stated, they get skewed by the low income people who bring average income down, and the property seems more expensive since it includes the 'stealth taxation' of development fees.
- ksgill
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[Quote]How tight is your paycheck in Toronto and Vancouver?[/Quote]
[IMG]https://i.chzbgr.com/maxW500/5710548480/h7730650B/[/IMG]
[IMG]https://i.chzbgr.com/maxW500/5710548480/h7730650B/[/IMG]
- bbbc
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Man, where do I start with this post.
As far as this thread goes, people that don't have a pot to p*ss in aren't hanging in a financial forum. With GVR so close to the border, middle class folks in Metro Vancouver have the means to travel roughly 30 minutes to Washington State to buy lower priced groceries, gas, and pick up their Amazon USA orders.
What a load. Time for you to get out there and volunteer and find out the reality to living in GVR.
Let me help you out with your hidden bigotry, LGBT buddy. So developers should get a free ride? Trust me, the developers like Concord Pacific are getting land and more for next to nothing.How do we pay for it? Get developers to pay exorbitant development fees, commit to building GLBT community centres, gift units to subsidized housing, etc. so that any condo built costs a few hundred thousand more putting even more pressure on the middle class.
Yeah, I forgot that the masses working in the service industry are making bank. Wow, you are fairly delusional.Now, when the averages are stated, they get skewed by the low income people who bring average income down, and the property seems more expensive since it includes the 'stealth taxation' of development fees.
As far as this thread goes, people that don't have a pot to p*ss in aren't hanging in a financial forum. With GVR so close to the border, middle class folks in Metro Vancouver have the means to travel roughly 30 minutes to Washington State to buy lower priced groceries, gas, and pick up their Amazon USA orders.
- bankonit
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Logically, if you are tracking an income/price of ownership ratio, and you add thousands of zero/low income people to the numerator, and nothing to the denominator, what does that do to the ratio? That is my point. And I am happy to house all the homeless of the world here in GVRD (it's a good gig for the multitude of professionals that it employs at good income), I just want it paid for by Feds, not the city! That is the real fight IMO.bbbc wrote: ↑Man, where do I start with this post.
What a load. Time for you to get out there and volunteer and find out the reality to living in GVR. I agree I was ranting...
Let me help you out with your hidden bigotry, LGBT buddy. So developers should get a free ride? Trust me, the developers like Concord Pacific are getting land and more for next to nothing.
I don't know how making a typo and opposing funding for a community centre for a specific group makes me a bigot.
I support LGBT having full access to all the amenities offered by the city...
As for charging extra fees on developers??? They don't pay, it comes back in the price of the condo that you and I pay BUDDY
Yeah, I forgot that the masses working in the service industry are making bank. Wow, you are fairly delusional. Where did I argue this?
As far as this thread goes, people that don't have a pot to p*ss in aren't hanging in a financial forum. With GVR so close to the border, middle class folks in Metro Vancouver have the means to travel roughly 30 minutes to Washington State to buy lower priced groceries, gas, and pick up their Amazon USA orders. I agree with this
- bbbc
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I just find it funny you bring up this group of folks. The Chinese community also has local government funded projects in their neighborhoods too, but you didn't bring them up.bankonit wrote:I support LGBT having full access to all the amenities offered by the city.
So a $400K condo has a few hundred thousand rolled into the cost, come on. If you're a condo dweller, sorry Charlie (or buddy), but you have to pay for infrastructure too.so that any condo built costs a few hundred thousand...As for charging extra fees on developers??? They don't pay, it comes back in the price of the condo that you and I pay BUDDY
I think there are two extremes in GVR, the working poor and rich, period. These working poor can't afford squat. So with more Starbucks barista positions (from the supposed job creators), they need affordable housing close to their jobs. I know, they can live out in Abbotsford or Langley and figure out some means of public transit (better not be SkyTrain) to get to Downtown Vancouver.Yeah, I forgot that the masses working in the service industry are making bank. Wow, you are fairly delusional. Where did I argue this?
Now we agree on something. Some people won't cross because they want to support Canada. The challenge with this line of thought is the products are all from multinationals and a lot of the retailers in both countries are owned by a North American entity (whether in Canada or the States).As far as this thread goes, people that don't have a pot to p*ss in aren't hanging in a financial forum. With GVR so close to the border, middle class folks in Metro Vancouver have the means to travel roughly 30 minutes to Washington State to buy lower priced groceries, gas, and pick up their Amazon USA orders. I agree with this
- sammyinvancouver
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like a virgin.
- daverobev
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I'd be interested - those in Vancouver saying prices are high - like, what?
For us here, near Ottawa:
Milk 4l = $4
Bagels 6 = $2
Cheese 500g = $6
I see petrol is ~10c/litre more expensive, but still hardly bad - and that's in the city.
For us here, near Ottawa:
Milk 4l = $4
Bagels 6 = $2
Cheese 500g = $6
I see petrol is ~10c/litre more expensive, but still hardly bad - and that's in the city.