While I agree with everything else in your post, this bit is somewhat pointless... it's like saying that drug dealers are making more money than software engineers. Well yes, maybe they do but it's not exactly legal... just like getting paid in cash and not paying taxesI think some of these contractors could give FAANG engineers a run for their money and on top of that they do many jobs that are paid in cash. So no taxes.
There are always many ways to skin a cat. My parents did with saving term deposits and rental properties. I am improvising on it by EFTs, bonds, pooled / divided interest properties and sometimes just keeping the stock options that I got in salary like that. My microsoft stock options significantly funded my house. My other options will go to buying slices of rental properties. My end game is to move from day job into construction. Buying land, subdividing or rezoning and selling or leasing out smaller and cheaper prefab townhouses. That kind of stuff.But I totally agree with everything else. In my view, relying on salary these days is not going to get you very far unless you're already earning loads or are in a company where you can progress very fast. Otherwise, you need other income - freelancing, flipping properties, trading stock options, crypto, NFTs, etc. - whatever is the best match to your skills, financial abilities, and preferences.
All solid ideas.There are always many ways to skin a cat. My parents did with saving term deposits and rental properties. I am improvising on it by EFTs, bonds, pooled / divided interest properties and sometimes just keeping the stock options that I got in salary like that. My microsoft stock options significantly funded my house. My other options will go to buying slices of rental properties. My end game is to move from day job into construction. Buying land, subdividing or rezoning and selling or leasing out smaller and cheaper prefab townhouses. That kind of stuff.
Given the artificial scarcity of land and growing population, that will workout.
I am not sure if it is indeed artificial. I was looking up the sizes of arable land by country and I found out that Canada is actually just one-third of India as far as usuable land is concerned.Given the artificial scarcity of land and growing population, that will workout.
Actually, it is. Look at the crown property %age of each province. The one with high price of housing always have 90%+ crown property aka public land.I am not sure if it is indeed artificial. I was looking up the sizes of arable land by country and I found out that Canada is actually just one-third of India as far as usuable land is concerned.
Its NIMBY culture through and through in many parts of Canada. They want more houses for more people but not here. "Not in my neighbourhood."Oh the irony of 3 immigrants sharing a bedroom which is a common sight in most Canadian cities. Do the people in their McMansions not realize that the children of these same immigrants would be running their country one day.
It's almost like being Canadian means not giving a shit about your own future in this country.
People like to live in the moment and why should someone sacrifice their comfort for someone else's children. That's the attitude general pop has these days.Oh the irony of 3 immigrants sharing a bedroom which is a common sight in most Canadian cities. Do the people in their McMansions not realize that the children of these same immigrants would be running their country one day.
It's almost like being Canadian means not giving a shit about your own future in this country.
Its a bit more convoluted than this.I think sooner or later, they will start releasing more land for mixed development. I work in a white canadian dominated office and even they are feeling the pinch, and most of them own some kinda property, mostly through inheritance. People who want to start a family have to move back in with their parents or they get relatives to pool resources and get a 4 bedroom house for like 6-7 people. Just today I had a discussion with a coworker about that situation and how will be paying 500 per head if they do that. I did not expect a white Canadian to say things you mostly ever hear from a newcomer immigrant.
It will become a bipartisan issue, like immigration, and iirc, it was a conservative PM who introduced express entry.
Maybe that will happen or new immigrants will start leaving in droves like they are arriving here and that will force them to take action. And the word is definitely getting around that this situation is massively artificial.
White Canadians, blue collar people, hate Trudeau!
To the people who moved to Canada recently, is it worth it to try and find housing before moving? Or am I basically forced to move and get an Airbnb while I try to find housing? Also, if I don't secure a job before moving, how do I navigate not having a credit dscore or payslips in the country?
@RSub @GandiBaat and anyone else who has an idea.
Oh hostels are an excellent idea. Airbnbs are insanely expensive too.Instead of a AirBnb, try booking a hostel through booking.com. You only have to pay when you check-in, and you can cancel like 3 days before arriving. You may want to book one in advance because the best ones get booked 15 days ahead.
You can book multiple hostels (in 2 weeks duration) so that if you find a room (let's be honest here, you ain't renting a entire basement or house), you can just cancel your booking and save all the money.
If you are single, I agree with @Impatient Elephant.To the people who moved to Canada recently, is it worth it to try and find housing before moving? Or am I basically forced to move and get an Airbnb while I try to find housing? Also, if I don't secure a job before moving, how do I navigate not having a credit dscore or payslips in the country?
Oh hostels are an excellent idea. Airbnbs are insanely expensive too.
Which makes me wonder, how do international students get housing when they don't have jobs or a credit history?If you are single, I agree with @Impatient Elephant.
If you are NOT and moving with your family, look for serviced apartments or airbnb. My employer used these fellows : ABODA (https://www.aboda.com/). It might get pricey. I will suggest, move alone, get a job, get apartment, then move family.
Trouble with airbnb is that it is hit or miss. Some airbnbs tend to be really sketchy. I used airbnb once and it had an unsafe socket with wires showing up. I had a 10 months old whom we had to keep strapped in the stroller all the time, even inside the apartment due to this. Also go for those airbnbs with no sharing and no presence of host. That is usually studio apartment.
Ofcourse you can look at hotels too. If you book in advance, you can get some decent deals.
Now coming to credit score. Not every land lord checks it. BUT they will certainly check your job references! So you will have to have a job before getting an apartment.