this post was submitted on 09 May 2025
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Stating the raw value of the house will only make naysayers throw inflation into your face.
The better way of saying that would be,
Like, really drive it home how absolutely unaffordable homes are these days. In my corner of Canada, the median detached SFH is going for 28× minimum wage, and it’s 32× if it’s new construction. My own 1972 split level sold brand-new for only 4× the 1972 minimum wage.
Jesus in today money that's 60k for a house. For a nice hours our parents bought
A quick way of estimating annual wage for a full-time position is to take hourly, double it, then move the decimal point to the right by three spots.
So for example, the BC minimum wage is $17.40. Double that is $34.80. Annually in a full-time job, that’s about $34,800 before taxes.
And 4× that is $139,200. Current median SFH prices for used homes sit at just under $1M in my podunk tourist town. All detached SFH, $1,200,000. New construction, $1,500,000.
I mean, really - who under 50 can actually afford those prices without intergenerational wealth to give them a leg up in life?
Also median detached sfh in the 70s was probably closer to 1200 sq ft. No builder is going to do anything less than a McMansion these days
My own home was 2,000ft² when built. In 1972. That was the Canadian average at the time, as most homes built by developers were made with the same 15 (or so) floor plans with slight variations.
You’re thinking of the 50s. Those homes were indeed around 1,200ft², and there is even a pair in my neighbourhood the next block over
And 2000 sq ft is still quaint by building stands from the 00s. Now if you want 2000 sq ft you’re looking at 3 stories of attached townhouse condo