[oldschoolcalgary]

affordability is a challenge nowadays.

I can't recall the exact percentage, but mortgages used to be about 20-25% of one's income... now i think the average is 40-45%.

that's a major jump... as a result of this, people are living with their parents longer in order to save for that initial downpayment... i mean its tough for a recent university grad, with student loans, to even save that 10% downpayment with cost of houses so high. One needs to be extremely disciplined today to same that money

condos have filled the gap a little but takes a TON of discipline to hit that initial down payment if you aren't lucky enough to have some wealth in the family....

but i work with some 20 somethings, and its amazing to me that they buy lunch every day! every single day they spend that money without considering how much that adds up...

I mean, i have to buy a timmy's everyday too, which is also a bit dumb since it does add up... but at least its not lunch!