@kevin33 I’ve heard 4-5 times your income but really it depends on how much you make. Someone who doesn't make a ton spends more on essentials vs someone who makes more where extra cash past a certain point is all spending money
@resjudicata Well not necessarily, it would also depend on what your down payment is. For example, if you want a $1M house and you have a down of $200k, you would need a mortgage of 800k, and using the general rule of thumb your income would need to be around 175k
So yeah still pretty damn high lol. It just sucks everywhere.
Yeah this sub skews heavily towards high income earners. Which kind of makes sense as they have more money to invest. I don’t make anything close to that and neither do most Canadians.