We rented for eight years, raising our three kids in that time. It was only with the help of my in-laws that we could afford our first house, and then only after cashing in all our assets, including all our RRSPs. Then we borrowed big from the bank.Well, actually, it's not totally the same. Vancouver home ownership out of middle-class reach
Kershaw has compared B.C. incomes and house prices now with those in the 1970s.Oh and by the way, since Mr. McMartin has terrible retirement savings because he lost out on all that early compound interest, he'd like to thank you ahead of time for supporting him in his old age. He really needed a house and will need your help with that. Thanks.
In the 1970s, the annual household income for couples aged 25-34 was the equivalent of $73,000 in today's dollars.
Today, the same age group earns just $68,000 a year.
Kershaw says even with more women working, households are earning less, not more — and at the same time, the average cost of housing, adjusted for inflation, has increased by 149 per cent.