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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
