scrubbedexpat091

My SIL went to lawschool, worked as a lawyer for a bit, but then had kids, lawyer job wasn't paying well enough as they live in a smaller city with limited upward trajectory due to lack of big law firms, so she went to work for ICBC instead. (by ICBC I donn't mean autoplan, she works as some sort of claims adjuster directly employed by ICBC)

dbd33

My daughter works as a lawyer for the Feds specifically because it pays well for a job that's child friendly, it offers maternity leave, flexible hours, provision to work from home. Not huge money but that's the trade-off.

Moses2013

True and unless you own the law firm or work for the very big law firms, salaries don't seem to be great. There are so many new jobs around us oldies don't know about. It's sad to hear that a tier 2 help desk employee makes more than a nurse and they would be considered low paid in the tech sector.

scrubbedexpat091

Most healthcare jobs seem underpaid if not in management, if you look through job postings at health authorities alot of the tech type jobs that make the hospital run and crucial to patient safety, make less than a transit driver, I was looking at sterile processing tech/medical device reprocessing, its $25/hr job, these folks clean and put together the surgical equipment necessary, and you kind of what sterile and clean surgical instruments.

Paramedics in BC are not paid all that well either.

Siouxie

Making it personal are we Dbd - that's low, even for you.

Unlike you, I don't own a spread in the country with land, horses, multiple vehicles etc., :I own a piece of crap in the city, don't have a vehicle - can't afford one - have a mortgage and no job.

The house I own (with someone else who has also lost their job) is a very small bungalow that is (and was when we bought it) basically a knock down - the basement has cracks in each corner that you can see through to the outside (the only way to repair will cost thousands - which I don't have)... the electrics are the original 1950's - as are the windows, kitchen and bathroom. It's a piece of crap and worth very little more than when we bought it for a low price 10 years ago, due to the amount of work it needs (i.e. knocking down and rebuilding)... I had to have the roof repaired last winter, another $1300 I didn't have. I wish it was worth money - even if I could sell it, I couldn't afford to buy anything else nor even rent somewhere, due to the increase in prices in Hamilton! I'm quite likely to lose the house anyway - I have ZERO income. I can't afford the $500 gas bill that is outstanding, nor the electric bill outstanding - let alone the city taxes. I'm about to give up.

Want to make another dig at me? Go right ahead... make my day.

dbd33

OK. I think that, from time-to-time, you mistake the tone of a post.

I don't think that owning a home necessarily makes one a bourgeois rentier capitalist but owning a home in a place that becomes gentrified is exactly how that transformation comes about.

BristolUK

And plasterers

Mordko

About a month ago there was a neat little article in the Economist. Based on the US data, I am afraid, but chances are it applies to us too. Well, it turns out that Gen X families are a lot wealthier than the Boomers were at their age. And the same goes for (oh, horror!) Millennials in relation to Gen X. Even wealthier.

With the unheard of government handouts targeting Millennials and discriminating against other age groups in the Trudeau’s new platform, the trend will likely accelerate.

So, dare I say, young CPAs, doctors, lawyers and good tradesmen will be able to buy a house if they so wish. The people who might not be so lucky are the ones who put all their energy into whinging. Regardless of age.

abner

How is "working from home (in Hamilton)" not, in fact, "working in Hamilton"? You're really torturing logic to suggest otherwise.

"service industry"

noun

1. An industry that does not produce any goods, but only provides a service such as a bank or insurance company.
2. an industry that provides services rather than tangible objects

Which includes veterinarians, police, engineers, etc., or more generally, jobs producing about 70% of Canada's GDP.
Well, sure. I never claimed to know Hamilton as a resident, and was mainly passing on anecdotal data based on experiences of several families I know (a few quite well) who share common craft-related interests with me. But I grew up in Southern Ontario, and spent considerable time in places like Beamsville, Dundas, etc. So I'm not exactly foreign to the area.

And with all due respect, even as a resident of Hamilton, I sense that you are missing a sea-change in the city's economy that is currently happening. It is not (just) the "next bedroom suburb" for GTA after Mississauga and Oakville.

That's unfortunate. But you were the first to suggest that I had been "hoisted by my own petard", based on your own misunderstanding of what constitutes a "service industry" job.

But I'm happy to bury the hatchet.

scrubbedexpat091

At least in Coastal San Diego area the weather is nicer than anywhere in Canada, and Mexican food.

$1.2 million, built in 1961, on the market for 13 days, last sale was in 1970.

Opportunity of a life time, in the sought after neighborhood of Avocado Acres in Encinitas / Leucadia Costal North County! Only 1 mile from the ocean.

3 bedroom 2 bath, 10,000sq foot lot.

Asssed value for property taxes $50,000 (whoever bought it for $1.2 million, wont be paying taxes based on the assessed value of $50,000 as when a house sells it gets reassed, California does property taxes a little differently that many places.) 2020 property tax was only $693 for the year, will be much higher now that it wont have the 50k assessment for the new owner.

It's perfect starter home for someone...... in 1971 when this house sold last, it's selling price was about 2 times the median household income of the era, at $1.2 million it is 11.2 times the median household income of that area (note this is a wealthy area of San Diego, median household income is $35,000 more than the median income household for the region as a whole.)

I don't know anyone can say working class today can truly afford homes, 2 times annual income seems more manaegable to buy than 11 times the annual income does..... By working class I don't mean high paid professionals, in 1970 a school janitor could have bought this home, today they can barely rent because labor has been so devalued over the decades.



Listing

scrubbedexpat091

MST Development Corp., which is run by the Musqueam, Squamish and Tsleil-Waututh Nations, and Canada Lands Co. is proposing to build three, 38-storey towers, and 10,000 new homes on Jericho lands. Will be interesting, I venture NIMBY's will come out in full force, and see if the city makes them shrink the size of the development as Jericho Lands development must comply with city policies and regulations, where another project Squamish Nation is building near the Burrard Street bridge isn't obligated to follow city policies and regulations as that project called Senakw development is fully within reserve lands.

https://vancouversun.com/business/ea...0000-new-homes

This is the size of projects Vancouver needs, building 2,000 units at a time wont solve the housing problem, but building 10,000 a time would make pretty significant progress.

dbd33

I'm not going to look up your trendy terminology. If the suggestion is that successively younger cohorts have more dollars at a specific age than older ones did, that makes sense, inflation often makes that true. In absolute terms though, the younger you are, the poorer you are going to be. People who have houses now have a significant net worth tied to the increase in value in the houses. People starting out cannot buy houses and will forever subsidize the housing of specific earlier generations. Tax policies, especially in the US and the UK, exacerbate this effect by shifting the tax burden from amateur astronauts and their corporations to the people who create their wealth.

It's what Conservatives vote for but, my word, that's some stupid.

Mordko

Great catch, or it would have been had the analysis been done by the amateur epidemiologists, statisticians and economists who all seem to congregate around here.

Of course the economists who did the actual study corrected for inflation. Younger generations are richer in real terms than the previous generations were at their age.

Average GenX has $1.1M. Boomers at that age had inflation corrected $730K.
Average Millennial has $196K (and is 32). GenX households had inflation corrected $158K at 32.

dbd33

1. How old is a GenX?
2. Do you have a link to this contrarian article?

Mordko

1. Average GenX age is 48 year old.
2. You have to pay for the Economist. https://subscribenow.economist.com/ They'll give you access to back issues as well. I can find out which issue but it will take a bit of time to scroll through recent magazines so let me know if you need me to do that. Guessing it was around September 15th.

Unfortunately I am not aware of any studies focusing on Thatcher refugees, professional whiners and common cold survivors. Suspect it's a conservative-lead conspiracy to cover up the data.