- The old cabin in the woods photo is not something the middle class and lower
- will ever be able to afford. Saving for a 20% down payment for a home that
- costs over $400,000 will not be possible! They will not ever own land unless it is
I have reservations about any political leader who sees himself as the saviour of the world, God’s gift to women, motivated to stir up anger, too rich to be touched by police, and places himself / herself high above everyone else, so high they fail to see what is needed to fix things.
I am not a politician, thankfully. It seems they are all so rich and out of touch with every day issues. The middle class truly is pretty much gone. I have or should I say, had a retail store with middle class prices. It is going under. People either want dollar store and big box store prices, or high-end merchandise but only when it is on sale. I wish I had figured that out a few years ago.
It’s no time to cry over what might have been, it is just time to move on to whatever comes my way. The part that really chokes me about middle class disappearing is, the financial institutions are so scared of losing a dime they are making it impossible for middle class and lower class to ever own a home. Here in Canada, I believe they have just increased the minimum down payment to 20%, while the prices of homes are going up steadily.
How is a household with an average income of $50,000 more or less, ever going to be able to get anywhere? Other than the big cities, a home is going to cost $400,000 for anything worth living in minimum. Now you need $80,000 to put down on this home. Then your income has to be able to support the mortgage payments of $2000 or whatever they are + additional increases that will come up when mortgages are up for renewal.
Instead of the lower to middle class people paying on a mortgage, they will pay rent for the rest of their lives or until they inherit money from their parents 30 years from now. The rent will cost way more than a mortgage, they will never gain equity, they are basically screwed unless they have a rich relative to help them out, win the lottery or kill their parents for the insurance money. Just kidding on that last comment, don’t do it!
Rich people are buying up the expensive homes and renting them out for sky-high amounts. The government decides to put extra taxes on the sales of these homes to curb the rich people from buying up all the property. Here is a news bulletin…That isn’t going to stop any rich person from buying anything, They Have The Money!!! In the meantime people who are renting have to pay astronomical prices to rent! The government put the extra taxes on, only to collect more money. It had nothing to do with stopping the rich from buying property.
What the government really should have done is put a cap on rent increases a couple of years ago, you know, before the rents got out of hand. So many people are going to be living at or below the poverty line.
Yahoo, the Ontario Government just raised minimum wage to $14. per hour. Now the cost of food in restaurants has to go up, cost of clothing in stores has to go up, etc. They will still be no farther ahead, except maybe to feel better because their pay cheque is bigger than before. Here is another news bulletin…the paycheque is not going to go further once all the increases in food, clothing, gas is in place. It is an ever-ending cycle that only helps the rich. It is such a sad position for people to be in.
That’s it for my rant of the day! How do you feel about this stuff?
I’m Frazzled Again.