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this post was submitted on 11 Feb 2024
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Don't need a professional expert to acertain whether the market is sour. Where I am the cost of renting a one bedroom apartment is around $1800 a month plus utilities on the low end. Mind you I am in a city but is you drive an hour and a half away to the farthest "commutable" burbs you are still looking at rents that are $1400 for essentially a one bedroom basement suite.
There are a lot of people my age I know who are working proper professional jobs double income no kids situations who are never able to save up enough for the initial down payment for a house. Why would they when they face so much precarity? Whatever money they are able to sock aside for a rainy day might only cover a car repair or some time off work if they have a life altering event like a parent dying and paying down chunks of student loan.
They wouldn't be able to handle paying for repairs and maintenance for an actual property while still paying high mortgage. Practically every early millenial I know who didn't start making their nest egg through a job in trades right out of high school and instead spent time in the post secondary system getting a degree got bit.
So a suite halfway between the two for ~1100 probably exists 45 minutes away, which sounds completely workable and average.
That only sounds marginally worse than pre2020 when it was closer to ~1000.
That sounds pretty normal mate and not that unaffordable.
Are you familiar with the term "sold out"? Supply is not unlimited, and you shouldn't spread a hypothetical like it's a fact. That's exactly the thing you complained about in your original post.
I've yet to see an example city I couldn't find plenty of options, even Toronto of all places.
When push comes to shove this convo always boils down to this:
Me: okay fine what city?
Them : (city)
Me: (proceeds to link 4-5 solid options I found in a couple minutes)
Them: noon those don't count because (arbitrary reasons)
Me: ah so it's not a housing problem... you are just picky and don't want a solution, you just wanna be mad
Every. Single. Time.
"Alright, I know they didn't have toilets..."
Usually it's more like, "yeah but it's west facing" or some shit.
Things that didn't happen for $1000, Alex.
Hour and a half commute, each day, not counting when there’s a bad accident at rush hour? Kill me instead, I’d rather not live life in rush hour traffic