We're doing ok. We locked in for 30 years at 2.9%, and I (gratefully) now make enough / bought a humble enough home, that on an annual basis I can almost just pay off our entire mortgage. Savings also cover multiple times the remaining mortgage. No other debt.

We're paying for that though. Work is bananas level of stress. I don't see my kid through the week, and on the weekends I'm so traumatized by flash-backs/flash-forwards of what's going on / will happen, that I struggle to be present. Plus sometimes I work through the weekends anyway to take the edge off problems left unsolved. And at some point it went from solving technical problems (stressful but hella fun), to engaging in human-level chaos (stressful and hella not fun). Management says I could always demote myself if I want :fulloffuck: how does that work :lol.

Meanwhile my wife is bored as hell taking care of kiddo on her own, and pining to go back to her career that she loves back in Toronto.

I think it's time to go. :lol

^I hope you appreciate your wife taking care of home stuff while you focus on work, and let her know!

Bought first home during the Fall 2020 dip at really low variable rate interest paying ~$3,000 per month. Household income was just under $200k pre-tax but it felt good, groceries and gas were cheap during covid. Seemed to have lots of funds to buy useless things from Amazon, desk upgrades, computer upgrades, etc without feeling tight on money.


Due to the rate increases, our mortgage payments went up to $5,500 per month. household income increased to ~$275k pre-tax. I feel financially worse off than when we first moved in 3 years ago due to the much larger mortgage payment. Can't spend on frivelous stuff. When there is a need for a bigger purchase, I would need to double check bank and credit card balances first and consider bigger payments like car insurance, home insurance, property tax. I'm looking forward to mortgage renewal in May where the monthly mortgage payment can drop down to as low as $3,900/month: 5.15% 3 year fixed, also stretching out the amortization from 19 years to 30 years since the she will be going on mat leave in the summer. So some relief from the mortgage renewal, but household will halve from her not working.

Things are still the same here, which means we continue to walk the tight rope. My variable rate mortgage isn't due for renewal for another 2 years, and I keep wondering when the supposed rate drop is gonna happen. Meanwhile, all I see are dropping GIC rates lol~

The things that really put us into a difficult situation in the last 2 years were the unexpected home repairs. If none of that stuff happens again any time soon, I might even be able to build up enough savings to finally re-pave the driveway that I've been wanting to do for several years now. But if something goes sideways again, I'm gonna be banging my head against the wall...

Imagine a household income of 275K and can't afford a few nice things in life. If RS is struggling, think about the average family making 150K a year.

What a place and time we live in...

I don't get how our economy is even surviving. Housing is so expensive, how tf do people go out and buy things?

There is no way people are saving for retirement these days.

Pet ownership is becoming the norm over having human beings. AI is going to make humans extinct. Climate change will make most parts of this planet inhospitable. If AI doesn't end the world first, wars over water and arable land will. Our political systems are incapable of tackling the challenges.

I don't blame a lot of people for just saying screw it and spending whatever money they have today.

Average family isn't making that much even. It's fucked.

One of my cousins in his 20s drives my aunt crazy because he spends every cent he earns on trips, clothes, his motorcycle, and UberEats. His philosophy is "well why bother saving because I'm never going to afford a house anyways".

I kinda get it, when the goal is so far away that it seems impossible, it can seem futile to even try.

https://www.zealty.ca/mls-R2858886/3...-Vancouver-BC/

Nice house except for this part:

https://cdnparap130.paragonrels.com/...2fcf738b12.JPG

lol I actually walk past that house sometimes and noted the stupid skirt into the garages before, good luck with anything but a cross over SUV, most standard height cars pro ably get high centered

Get this argument a lot.
It's also those who are in their 60s living off at rents being $1500 for a 3 bedroom downtown and now gets evicted due to whatever legal reasons.

If you're the type to be happy to never save for a house, don't tell me you can't find a home when your 60 now and realize rent for a 1 bedroom is 2500 downtown.

You chose this lifestyle.

The first thing that came to mind is -- how can the fxxking builder ever be OK with themselves building something like this?! As Hondaracer is saying, a non-SUV / crossover is totally gonna scrap its underside trying to get in. (And an Ioniq 5 owner is gonna total his car the first time trying to go into the garage lol~) The stupid thing isn't even functional to begin with.

Of course the same thing applies to parking spots for new apartments. They are so ridiculously narrow that even my pos subcompact beater has a difficult time fitting into the spot, let alone a modern porked up SUV / crossover / truck.

And in that area, with a driveway like that you take away a huge summer income, $25/day parking for the PNE.

See not only can you live with water front views for free in Canada you get free Wi-Fi now too :fulloffuck:

https://www.cbc.ca/news/canada/briti...side-1.7146661

If ya go to the Walmart on Grandview or Metrotown at night, look at what people buy and it makes you feel like you're in the top 1-10%.

It's sad to see when people in their 20's realize they need to save 4 - 15+ years for a 1BR downpayment.

They proceed to joke about buying a house in Calgary and realize that a non bungalow house that is "nice enough" and close enough to downtown is $600 - 1,000K as well.

I'm currently in the process of planning to build a LWH (with the new bylaws, I'm able to build ~1560sqft LWH in Vancouver) and I'm curious if anyone has had any experience with some of these builders:

https://www.bricklaneproperties.ca/
https://smallworks.ca/
https://www.lanefab.com/
Licon Construction
https://www.tenet.builders/

The quotes I've received so far have been all over the place. Also looking for any tips regarding LWH construction... it's been quite daunting to say the least.

I'm chatted with Bryn at Lanefab a few times and he's fairly well known in housing circles with a good rep - I was hoping that if I had gotten land to build on that I would have used him as I had interest in building it as a passive house. Bryn was also a consultant with the City of Burnaby in forming their laneway policy so he knows the ins and outs of laneways really well.

Smallworks also has a great rep in the community for their work and between them and Lanefab they are generally considered the experts in laneways - they know how to navigate the bureaucracy of building a laneway really well and also know how to get the most out of the design of a laneway.

If you're planning to live long term in the laneway (vs renting) then you can't go wrong with either of those two.

Going thru this too.
Mistake 1) Wife decided to spend more on buying a house; did not think of rate
2) Did reno after we bought house - went over budget... duhhh u don't think it'll ever go over???
3) trades are still not finishing up and it's delayed

Lessons - 1) Now saving $ 0 a month, and prop taxes + sewage fees / garbage fees (richmond), insurance.. I'm telling her monthly we are strapped.
2) Something has to give, I told her we have to cut out vacations which she's not doing.
3) One thing we are doing is being very frugal, we do zero eating out for 3 years now.
4) Average family income in Canada 2021 is 98k. STFU saying we are poor, we are just going thru first world problems.

Gerbs said it spot on. Go look at what people buy at walmart.
Go look at the bank receipt at the atm machine. People were taking out $10 dollars with an account of $346 left in their accounts; and most time, negative balance.

99% of people in canada in the low / mid class would love to have a job that's $60k (that's $30/hr). Those in Van, married, are cranking out $150k combined salary and keep saying they are poor.
Have to level set all the time with the wife, don't hate me, it's the difficult social economical times we are going thru. You gotta make cuts like everyone. Stop look at IG and Pinterest.

Actually IG Pinterest is fine cuz they live in like Texas with a mansion costing $500k we just choose to be stubborn suckers and won't GTFO. Dear God the lifestyle I will have if I can get a mansion for $500k.

Making over 200k as a household and gotta think about going out for dinner.. Canadurrrrrr

Such a fucking joke.

That's not Canadurrrr... it's Vancouverrrrr

Vancouver =/= Canada

Would be poor in New York or San Fran or London or Tokyo or HK too... that's what happens when everyone wants to live in the same places as everyone else

People have been posting ads of 3 bedroom homes for rent in Saskatchewan for $4000 a month.

Rents are one thing, but when groceries and -everything- is more expensive than elsewhere, it doesn’t add up.

Can’t wait for $2.50 gas, I’m sure there will be some illogical reasoning for the prices on top of the added carbon tax etc. gonna be fucking sweeeeet for the summer. People can’t afford hotels now with airbnbs out anyways, so why would you need to purchase gas when you can’t afford to go anywhere hehe

^ but would someone think of the Ukrainians > Palestinians > Haitian > homeless

I think Canada as a whole is crazy.

The CC bills I used to get was around 6k a month after I piled in everything I could on the card. My regular CC had a 10k credit limit, and even after countless attempts of CSR to increase, I've always said no because why bother? I have another card for occasional high-price expense anyway.

Then for the first time in a long while, I got text saying that I was over 90% of my credit limit. At first I immediately checked my account, and nop... nothing unusual and all the expenses were the same items more or less.

Then the second month... again, over 90% of my credit limit. I looked into the account again, same... nothing unusual, no extra expenses... just more expensive overall. So, for the first time, I said yes to credit limit increase when I was at bank, just to save the trouble of going over.

Now, I'm constantly over 10k on credit card bills. Yes, I could be an anomaly because I go out of my way to put everything on my card to maximize my points earnings. But it's still crazy how it went from 6k doing the same thing to over 10k. The only change was the 1200 monthly payment for kids Invisalign and that's all. It's not like I started indulging in steak and lobster on a daily basis.

When I brought up the topic with my $$$ friend over the East coast, and they are like... yeah, their CC bills are easily 25k+ every month. And in comparison, my buddy who decided to move to Peru, he says his family spend like 5k USD a month but they live like king... literally steak and seafood daily with a lady who cleans and cook for them 6days a week.

I'm like... yeah, you could say Canada's overall standard is higher... but I don't think this is an apple to apple comparison.