I saw nothing in that article you linked to that corresponded to the numbers you were saying...?
Is that before tax?
Another question for the trades guys here
- Thread starter Mongrel
- Start date
Is that before tax?
There is a chart just below the 6th paragraph for the top 10%.
And further down....
"To put this level of income into perspective, that’s almost 10 times the average Canadian income of $38,700."
I would assume these numbers are pretax, but the article doesn't say specifically.
Thanks. Don't think that chart loaded on the mobile page I was looking at before. From those numbers it looks like you'd have to be near the top 1% to buy a house as a single individual in Toronto.
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80k pre tax puts you in the top 10% of this entire country... hows that for perspective? And we're here debating if its possible to buy a house and live a normal life on that kinda money, that's the really scary part. You can be in the top 10% and still not "rich" enough to live a comfortable life in a detached home with the odd luxury here or there.
People talk about the 1%ers having everything, blah blah blah.. but its not even them, they're struggling in their own ways too. You think you're set for life with a 300k salary? Better make some savvy investments and savings if you wanna retire at 65.
It's really the top 0.01% that are rich.
People talk about the 1%ers having everything, blah blah blah.. but its not even them, they're struggling in their own ways too. You think you're set for life with a 300k salary? Better make some savvy investments and savings if you wanna retire at 65.
It's really the top 0.01% that are rich.
80K is the new 60k.
buying power per dollar has decreased over time due to various factors.
This wouldn't be an issue if you can do Job X and make 80K living in Hamilton, BUT the reality is, that same Job, pays 50K because it's in Hamilton and not in Toronto.
Higher wages correlate with higher prices.
buying power per dollar has decreased over time due to various factors.
This wouldn't be an issue if you can do Job X and make 80K living in Hamilton, BUT the reality is, that same Job, pays 50K because it's in Hamilton and not in Toronto.
Higher wages correlate with higher prices.
Our company is nation wide and we all get the same wages so the guys in Hamilton are doing much better than the ones in Toronto. Apparently regional pay was proposed a few years back but the rest of the country said, "Why should you get paid more than us to buy million dollar homes while I have to live in a $300000 home?" Apparently not realizing that their $300000 home is significantly nicer than what $1 mil will get you here.
Yea, I know some places like that, but that appears to be more the exception than the rule.
You can if you don't live in the GTA.
I have a theory that eventually "affordable housing" will be so far from people's work that they won't be willing to make the commute anymore.
Employers will have to pay more to get the employees or move to cheaper areas. I'm fascinated by how many companies are in the GTA that don't really need to be there.
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Dresden
Well-known member
Yeah, lower rates and the 40 year mortgages didn't help either.
Yes that exact type with the double garage in the back ,went to look at one right by the new hospital on dundas which would be no problem rent out but it was a little steep 520k for 1700 sq with finished basement. Looking a little cheaper and willing to fix it up.
Details on trades wages well to put things into perspective... a house framer crew leader who is productive fast and clean with 1 employee can put a 3000-3500sq ft home up in 4 weeks missing the 1 day a week or 3 weeks in prime weather. The house pays more or less $20000. Workers payroll is $25hrly plus 10% vacation pay plus 9% comp,roughly $35 total hourly times 130 hours to build the house. So the worker takes 3900 leaving $16100 gross before cost of nails..fuel costs...and of course tax. Plus the builder pays the 20% of the full price of the house to the union on behalf of the subcontractor and employees for full benefits...life ...dental..glasses ..and a nice little pension which can be accessed at 55 with deductions or full pension at 65 years of age. Which will give you 3400 -4000 monthly depending on your credits. So doing the math $16000 /130 hrs equals $120 hourly before costs. Keep in mind not all are productive as I've seen 4-5 man crews take a month to build and on the other end crazy fast with 2 men build in 2 weeks. Some guys shut down in the winter so the numbers of course over the period of the year would change. Keep in mind its damn hard and dangerous work and is not for everyone but the skills gained can help with many other things like flip houses... I do that here and there and most other things like trim.. drywall.. flooring and frame of course. I finished my basement for $6500 all in done in 3 weeks adding 35-50 k of value to the house over last christmas.
So there's my take.. I wouldn't get out of bed for less than $500 gross daily
Sorry for the length but I had to get it all in there.
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My condolences to her.
This is really true, my company could very easily be anywhere, but then where do they go? East? West? North? either way some people will be really happy and others will have to quit.
I think the real solution is for companies to make it part of their policy to have employees work from home as much as possible, I do it once or twice a week but could easily be 4 times a week.
Old school mentalities, ***** in the seats, 40 hour work weeks, etc. Until the old guard change, nothing will change there.
The commercial rent may be lower outside of TO but the commercial PT rate more than makes up for it in many places, for commercial properties the renter typically pays the PT. Commercial rent + PT in Etobicoke is surprisingly competitive compared to Hamilton, apples to apples.
If 905 does not want businesses, they won't move there. Some cities in 905 do, it is shocking how many do not....
Isn't every job in the world kinda sorta goal-oriented? I never understood the 9-5 mentality... checking in and out on the minute, worrying about being 15 minutes late, etc. It's such a weird concept. It definitely is an old-world mentality.
If you finish your tasks, it really shouldn't matter if it took you 6 or 8 or 12 hours. I bet that 80% of the office jobs in downtown Toronto could easily be done from home. If the work is being completed, who cares what the clock says.
We have the technology now, it's only a matter of time.
If you finish your tasks, it really shouldn't matter if it took you 6 or 8 or 12 hours. I bet that 80% of the office jobs in downtown Toronto could easily be done from home. If the work is being completed, who cares what the clock says.
We have the technology now, it's only a matter of time.
Exactly my point - It is all in the corporate mentality. Most people that run companies are old school, get in at 7am and leave at 7pm type of folks so to them not being able to micro manage people visually is a really hard concept.
But also there are always the ******** that abuse the system and ruin it for all of us.
