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30% of income spent on housing is a perfectly reasonable number
It’s the maximum reasonable amount as per StatsCan.
People spending 30% or more of their income on shelter costs are considered to be rent-burdened, or in unaffordable housing.
To me, “perfectly reasonable” implies that there would be wiggle room on either end where the figure could still be reasonable were it higher or lower.
It’s an arbitrary number, which means there is definitely wiggle room. People are surviving up at 60% (barely) so I think yes, these days 35% would also be considered reasonable by most
Yes, it’s an arbitrary number, but that doesn’t make it meaningless.
Renters are losing wealth faster than any other demographic in this country, and
I think it maxes at $200
if it did, the text wouldnt be “the large majority” but “everyone”.
Perhaps that tiny fraction is paying more because they get more or really earn much more. Who knows. But this certainly is not something to criticize. Once 30 % of your income is way too much for such a house, you are far away from needing this kind of help and should move anyway.
Man, shut up. This dude made bank when he sold his company and thought, “how can I improve the lives of others with this money?”
Then he put in the work to figure out the best way to spend it. And then he fuckin did that.
Should the government be handling the problem? Yes. Is that how every rich person should think and act? For sure. But is that reality? No, so we should celebrate it when it happens.
You’ll never be happy if you let perfect be the enemy of good.
“You’ll never be happy if you let perfect be the enemy of good.”
what a great comment
I learned it watching a guy play Cities: Skylines and boy did it stick with me
Your comment made me think of The Office quote formatting of:
“You’ll never be happy if you let perfect be the enemy of good.” -Voltaire -Some guy playing CS
I had to think of who it was but it was City Planner Plays
“A year ago, I was homeless. Now I have a home, I’m not on the street and I have peace because every place where I stayed before was temporary. Here there is very much a sense of community. Marcel has a heart and a passion for what he is doing.”
People got homes. Ones that dont require them to starve themselves to death.
its literally what financial advisers tell people should be the upper bound for their housing costs and this is for low income individuals. they didnt pull the number from their own rear. so take the small good news were you can.
