Quote:
Originally Posted by Sduibek
Actually I would call that upper class unless you have kids or are supporting a spouse. If that's income for a single person that's definitely upper class. The only reason people would think otherwise is because the greed of countries (*cough* US *cough*) skewing things. If that's one income for two people then i agree, upper-middle.
I think that this has been dealt with but I'll ring in with my 2 cents. 70k is not upperclass, I wouldn't even call it upper middle class, even if the government defines it as such.
I am in that ballpark salary range, and I still cannot afford a detached house here in Ottawa and I can make a large downpayment. I cannot believe that middle class can now be defined as scraping by with a condo or townhouse and a car payment. We have too much space to be living like sardines, and this is not how the middle class has ever lived in the past. Has anyone ever been to the Glebe or Westboro? Sure they are ridiculously priced now, but they were middle class neighbourhoods once upon a time.
70k might be middle class in most of the country but it is not even close in Toronto, Vancouver, Ottawa, or Calgary.
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Wow so very VERY true. Relating specifically to the Glebe, my father grew up in the Glebe. My grandparents bought a good sized house there for 25k in the early 50's (good sized=large but not mansion sized). Anyhow, they sold for just over a million in the early 80's. It would be double that now. Insanity. I rent a single home, the rent is ridiculous but the crazy thing is that my friends are renting 1 bedroom apartments for not much less than what I am paying for a full home on Main St. I can't get a mortgage because I'm a student, but dang I hope that once I graduate I can get a decent enough paying job. If I can get a teaching position at a university in town, I'll start mid 50's I guess, then I will have to consult to bring me up to 6 figures, but that means 60-80 hour work weeks. Not exactly a great deal. Ottawa is stupid expensive to live in and the housing market just keeps climbing. From what I recently read, though it is not the most expensive, it is the fastest in rising costs. That in itself is VERY scary.