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The country of Canada

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As housing costs soar, some financial analysts advise to scrap the 30% rule | CBC News (www.cbc.ca)

submitted 1 year ago by 3c@kbin.social to c/Canada@kbin.social

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Thirty per cent is the often-touted maximum percentage of your income that you should spend on a home. But in an age where the average one-bedroom apartment in Vancouver rents for $2,787 a month, is that number still realistic?

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[–] CaptainPatent@kbin.social 10 points 1 year ago* (last edited 1 year ago)

"Hey, remember those general rules we set to help you make sure you were financially secure?! Well they're not obtainable now so just forget we said anything."

[–] sendingmath@kbin.social 2 points 1 year ago

lmao that went out the window for millenials and gen Z years ago. it was a nice idea though.

[–] xb@kbin.social 2 points 1 year ago

When affordability becomes impossible, just change the criteria of what's considered affordable lol.

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