Hi folks ,I am back I was really busywith work,how is things going here?saw lot of guys got ita happy for them.
I saw something interesting in canada ,some of you guys may be able to give some insights.(obviously I knew prices were high)
A home in calgary now is sitting at 500-700k I am not talking about fancy stuff just average home ,let us assume 20% down payment that is 100k to 140 k and monthly payments approximately 2500-3000 ,utilities 500 ,how are new immigrants affording this homes ,I think I am getting decent salary according to canadian standards but If it is this way it is almost impossible to buy something and I forgot to add taxes .I feel like if I have to afford this I will have to work to death ,here am I missing something. Not to spread panic it is a great place to live I think this is the number 1 problem.if you get this sorted out then you are good ,trust me with good skills getting a job in a good company is easy but housing prices gave me chills.inorder to afford down-payment it will take 2 yrs that time this will be 700 to 1M$ which will again push the needle.
Obviously if you have generational wealth and get handout from your parents it is easy else it is a very tough road ahead.(which is my case).
Even with 100k you will be house poor.
Is there anything I am missing.