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-   -   How do young people get their start in life today? (http://www.raptorsforum.com/f/f9/how-do-young-people-get-their-start-life-today-22518.html)

Claudius 03-19-2012 10:09 PM

How do young people get their start in life today?
 
Now, I can easily be placed in this boat (I just turned 28 in December), but looking at the city of Toronto and the price of real estate (and consequently the rental market) I often wonder, how do young people get their start in life today? Well paying jobs are falling off trees and wages haven't really increased even with inflation.

So, we have a lot of young people here, how do you get/got your start in life alone? Because right now, beyond some people saying screw it, I'll live with massive debt the rest of my life, I just don't see it.

dfunkie1 03-19-2012 10:22 PM

it's scary.

i bought last year

massive debt for a long time

i'm getting married next year

more debt

we both need new cars within the next two years

even more debt

we want to have a kid in two years

eeek

without any major surprises, we should be fine with payments and saving some money, but life isn't like that at all. i just hope by the time i'm in my 50's and nearing retirement, my payments are just your normal bills and taxes.

Bill Haverchuck 03-19-2012 10:29 PM

Baby boomers had a sweet deal.

jeffb 03-19-2012 10:32 PM

Certainly not easy. I didn't start making decent money until i was in my late 20's and i didn't buy my condo until i was 36yrs old. Thankfully i'm not "house poor" and don't have much dept at all other than my mortgage. But for sure, living in this city in particular is insanely expensive and i know far too many people that are in debt and live paycheck to paycheck and struggle to keep up.

Windex 03-19-2012 11:03 PM

I starting working before I went to uni in order to pay tuition fees and living expenses up front fr those 3 years and not take out a loan. I just dont pay for things I can't afford. Thankfully public transport is good so I don't need a car. I'll crash at my parents place or stay with friends until I get a stable job (I don't mind sleeping on the floor :cookie:)

Plus... I'm pretty anal about money. I write every dollar I spend in a ledger.

Barracuda 03-19-2012 11:10 PM

Quote:

Originally Posted by Claudius (Post 628170)
Now, I can easily be placed in this boat (I just turned 28 in December), but looking at the city of Toronto and the price of real estate (and consequently the rental market) I often wonder, how do young people get their start in life today? Well paying jobs are falling off trees and wages haven't really increased even with inflation.

So, we have a lot of young people here, how do you get/got your start in life alone? Because right now, beyond some people saying screw it, I'll live with massive debt the rest of my life, I just don't see it.

I'm also 28, and I wonder the same thing everyday. It's stressful.

Aar_Canada 03-19-2012 11:10 PM

This is specific to one area and one type of dwelling, but it's interesting what's happening in Toronto now as far as the new construction condo market goes. Most units are tiny and are being purchased by investors who rent them out. A huge chunk of those investors are from Asia and actually have preferential treatment - first dibs when new buildings go on the market - so even if a Torontonian had the coin, it's hard to find the right place. I think it's driving the prices up ($300,000 for an 800 sq ft one bedroom!) and doing serious damage in terms of what kind of lower downtown Toronto's going to wind up with.

Torontosaurus 03-19-2012 11:15 PM

Thought I would be living in massive debt for the next 10-20 years but someone very close to me was killed and I was the insurance beneficiary. The whole thing is kind of bittersweet as I'm now out of debt and just bought my own townhouse but I lost my best friend in the world. But it had me thinking, you never know what may happen or where you'll be in the space of a year...

LX 03-19-2012 11:19 PM

There's going to need to be drastic changes in lifestyle out of necessity anyway. The boomers had a sweet deal, but now there's a need for a new deal, as in a social compact that doesn't include outdated ideas like growth economies and spewing carbon and methane into the atmosphere. I'm sweating right now. It's just fucked up.

fancylad 03-19-2012 11:35 PM

It is pretty fucked up. I don't know how people can make a real living relying on a basic job as in something in service or another entry level position. And while that may sound pretty obvious to most, it's indictive of a pretty flawed system. think about it. Someone works full time in tim hortons. or the bay or whatever.... but even 40 hours a week is not enough to give them financial piece of mind for the bare nessesities of life.

TORaptor4Ever 03-19-2012 11:41 PM

From what I've noticed among my own social circle people seemed to fall into 2 groups...

a) those who went to school but came back to TO to live and quickly shacked up with a BF/GF to save on living expenses.

b) those who went to school out of town and just never came back because it was cheaper out there. (relocated to London, Guelph, Waterloo or moved out of province)


Trying to save for ANYTHING while living on your own in TO (unless you're making 6 figures) is not easy... unless you live the life of a hermit and never go out at all.

It's times like these when I really envy the young guys and gals living down south who can buy a 3000 sq ft home for 200K. Craziness.

dfunkie1 03-19-2012 11:43 PM

Quote:

Originally Posted by TORaptor4Ever (Post 628209)

It's times like these when I really envy the young guys and gals living down south who can buy a 3000 sq ft home for 200K. Craziness.

totally. hgtv is such a piss off. i see homes in major cities going for 300k that would be 750k in ottawa and 1.25 in toronto.

Dark Knight 03-19-2012 11:46 PM

I definitely think about it sometimes. I plan on going to a post-secondary school once I graduate high school, but you here all these stories of people who graduated from university and go out looking for a job, there aren't any available. And if there are openings, the competition is seriously fierce.

I've gotta start saving for college or university too. My household runs on one income at the moment, so the pressure of getting that money for college or university definitely starts to build after a while. I want to be able to pay my way through, and not depend fully on my mom to help pay.

The rest of that other stuff I'll have to worry about in a few years, until then I won't bother. :reporter:

TORaptor4Ever 03-19-2012 11:50 PM

Quote:

Originally Posted by fancylad (Post 628207)
It is pretty fucked up. I don't know how people can make a real living relying on a basic job as in something in service or another entry level position. And while that may sound pretty obvious to most, it's indictive of a pretty flawed system. think about it. Someone works full time in tim hortons. or the bay or whatever.... but even 40 hours a week is not enough to give them financial piece of mind for the bare nessesities of life.

Assuming $10/hr is minimum wage....

$10/hr x 40hrs/wk = $400/wk = $1600/mth before any taxes/deductions.

You better pray you can find a sweet basement apt. for $300-400 or you're screwed lol.

When I moved back to TO from London I briefly looked into living downtown and was SHOCKED at the rent prices that I saw. $1000/mth for a 1 brdm apt in a high rise building that looked like a crackhouse! WTF??

bjjs 03-20-2012 12:59 AM

Live with their parents

MrClutch 03-20-2012 01:11 AM

Im probably going to start off with a semi detached when I'm ready and work my way up to a bigger house

J-Bo 03-20-2012 01:12 AM

Gotta get started in tha rap game...

Windex 03-20-2012 02:47 AM

Quote:

Originally Posted by J-Bo (Post 628234)
Gotta get started in tha rap game...

... I got my start in the coke game :cookie:

Nites 03-20-2012 04:29 AM

Quote:

Originally Posted by Windex (Post 628249)
... I got my start in the coke game :cookie:

Hey, at least it's more money then the dope game.

fancylad 03-20-2012 06:34 AM

Quote:

Originally Posted by TORaptor4Ever (Post 628213)
Assuming $10/hr is minimum wage....

$10/hr x 40hrs/wk = $400/wk = $1600/mth before any taxes/deductions.

You better pray you can find a sweet basement apt. for $300-400 or you're screwed lol.

When I moved back to TO from London I briefly looked into living downtown and was SHOCKED at the rent prices that I saw. $1000/mth for a 1 brdm apt in a high rise building that looked like a crackhouse! WTF??

and you know what... somehow people do it, but it just seems brutal (having multiple jobs). Some immigrants have to pull it off. At the hospital i work at there's this one girl who works every day at the tim hortons there. Then one day after work i pop into a quizno's with time before my Go train, and there she is behind the counter.


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