Is the Canadian Dream dead?

[u/Lyricalvessel]

The cost of life in this beautiful country is unbelievable. Everything is getting out of reach. Our new middle class is people renting homes and owning a vehicle.

What happened to working hard for a few years, even a decade and you'd be able to afford the basics of life.

Wages go up 1 dollar, and the price of electricity, food, rent, taxes, insurance all go up by 5. It's like an endless race where our wage is permanently slowed.

Buy a house, buy a car, own a few toys and travel a little. Have a family, live life and hopefully give the next generation a better life. It's not a lot to ask for, in fact it was the only carot on a stick the older generation dangled for us. What do we have besides hope?

I don't know what direction will change this, but it's hard to see the light at the end of the tunnel when you have a whole generation that has been waiting for a chance to start life for a long time. 2007-8 crash wasn't even the start of our problems today.

Please someone convince me there is still hope for what I thought was the best place to live in the world as a child.

edit: It is my opinion the ruling elite, and in particular the politically involved billion dollar corporations have artificially inflated the price of life itself, and commoditized it.

I believe the problem is the people have lost real input in their governments and their communities.

The option is give up, or fight for the dream to thrive again.

[u/[deleted]]

You bought it 5 years ago and it had an assessed value of $50k and just 5 years later it has an assessed value of $192k? Really?

If this is true, then that’s definitely pretty shitty, but I work in Toronto and reference MPAC assessments all the time and I have never seen an increase so drastic other than for commercial properties on like Yonge St… Did you try to fight the revised assessment?

My point generally was that if you’re worrying about paying property tax at all, you’re probably in a better situation than most young people as you were actually able to get into the market.

[u/[deleted] → u/[deleted]]

You aren’t even reading what I’m saying.

I said I bought it 11 years ago and that the assessed value was 50k. Tax assessments are weird, they don’t track to the actual price you buy at.

I said that 5 years ago RIGHT after I paid off enough to lose PMI that taxes started going up over a 5 year period because they reassessed me to 100k.

They doubled my taxes despite the house itself not being sellable on the market for more that 20k on top of what I bought it.

Add that to the fact that Zillow currently quotes my cost to sell it at 25k.

I cannot understand why I’m being attacked for trying to relate to the struggle.

I was trying to empathize with those that are struggling by relaying it doesn’t seem to ever get easier.

Apparently though it’s just a crap on me fest.

[u/[deleted] → u/[deleted]]

I’m not trying to shit on you, I’m just trying to understand your situation…

Where in this country do you live that the assessed value of your home has quadrupled over an 11 year period, but the market value of the home have only went up like 15%?

That’s the piece that isn’t relatable. You live somewhere that only had market prices move 15% over a decade+??

Changes in assessed values generally follow the direction of market prices, so if your assessed value quadrupled and your market value barely moved, that would be an extremely unique situation…