A bitter coworker told me this story the other day. He's recently been through a divorce and has likely faced the rental market for the first time in many years. He originally owned his own home at an early age because he was frugal.
So he tells me this story of a first responder that was in the news. We don't know what kind of first responder. We're assuming paramedic. He had a career that he had to train for.
He was married with kids and owned his own townhouse in Toronto. Then he went through a messy divorce. Legal fees sucked up all the equity in their home. Now he needs to find a place to rent with rooms for his kids and pay child support. He went from owning his own home to renting and living pay cheque to pay cheque. He has a career and is living in poverty.
I get it. When I went through my divorce it was financially tough but now it's much worse. The cost of housing makes it extremely difficult to pay child support and maintain a residence where the kids can spend the night. I mentioned a coworker who went through that and committed suicide. He simply couldn't do the math. How can I pay child support and pay rent at the same time? There's nothing left over for anything.
My coworker said yeah and nobody is allowed to talk about that. Things could be worse but times are tough. There's no disputing that fact. Are we going to kick the cat and blame someone else or are we going to get to work and do something about it?
Deporting all the immigrants and everyone who disagrees with us is not going to solve the problem. We need to take responsibility for what we do and not blame others for the choices we make. Paying immigrants not to work is a big part of the problem. No economy can sustain that. Brutalizing hard working immigrants who work long hours for little pay isn't going to solve the problem either. That's just going to increase inflation by making the things we buy more expensive.
We need to realize that although financial stress is real, money doesn't buy happiness. $200,00.00 for a new Rolex is gluttony. Why would you spend that much money on something so worthless even if you had it? To brag? To show off? That's really shallow and pointless.
Meanwhile back in the real world, 50% of Canadians are living pay cheque to pay cheque. It's obviously easier to pay rent if you have a room mate or a mortgage if you have a partner but if that relationship breaks down, boom, everything is gone.
It reiterates how ridiculous these yuppie rappers look who are trying to create drama over a new watch or pair of sneakers. That is a pathetic life. They have no substance. They have no morals. They have no soul. They are empty and meaningless.
When I was young owning a home on a single income was within reach. Then it took two incomes and you had to rent out the basement. Now it's just insane. Things are getting tougher financially. That's real.
One of the main problems in Metro Vancouver is the lack of rental buildings. Everybody was obsessed with making a quick buck with all that free money. They'd buy a place and rent it out to pay the mortgage as an investment.
They stopped building complexes for rental. The government doesn't have to building housing for everyone. Local city Halls have to approve more complexes that are for rent. Rental income is slower to profit from than the quick flip but will be a big help in the housing market for those who struggle.