And when your Dad bought an average house in, I am guessing, the 1960s, that house cost closer to 5,400 than 540,000 and he could get a CMHC mortgage on one salary. Line work at the auto plants was particularly valued as a career.
60 years later and we have added two zeroes to the price of a house.
Meanwhile household income of 78,000? Both parents working?
Remove two zeroes to drop 78,000 to 780.
Divide 780 by two and you get 390.
50 weeks a year.
40 hours a week
2000 hours a year
390/2000 = .195
I can guarantee you that in 1965 nobody, least of all an auto worker, was working for 20 cents an hour.
AI tells me that the average wage in Ontario in 1966, the year we came over, was $95.65 a week or $2.39 an hour.
That sounds about right based on what I know of my Dad's experience arriving from the UK into a professional position.
In 1972, my first SIN job was throwing bales of hay for the minimum farm wage of $1.00 an hour.
There is no one single thing that has got our kids into this position. This is the result of a lot of unintended consequences resulting from good intentions and bad decisions.
Is there a fix? Beyond the inclination to put somebody, anybody, up against a wall.