this post was submitted on 25 Jan 2024
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Housings still gonna be 30x median income...but I guess people will have incomes so that's nice.
It’s so bad in Kelowna BC that the average wage would have to jump 10× from $22/hr to $222/hr in order for the average wage earner to be able to afford the average home under the one-third rule.
And yes, all other working-class wages would have to jump commensurately, with minimum wage rising to $167.50/hr.
Or, on the flip side, housing values would have to drop by 90%.
Either way, something has to give. This can only go on so long before people just start taking a page out of 1790s France.