Economy Rising food, rent costs eat into young professionals' disposable income

[GoldenWolf87]

Well this is unfortunate.
Even with a good paying income job in some places in Canada, young people and their disposable income are going to food and rent.

Even those youth that are no longer living with parents are finding difficulties of helping themselves.
Its true some of the food costs had risen on some certain items.
Rising food, rent costs eat into young professionals' disposable income

"It's insane seeing the price of, say, broccoli double, or something really menial, like green onions double or triple," she said.

Like many Canadians right now, groceries are putting a big strain on 28-year-old Deborah's pocketbook, especially now that she is no longer living with her parents.

 

[Rygu]

I worry more about seniors on a fixed income than young people tbh.

 

[The XL]

It's one hell of a ponzi scheme that the elite have created.

 

[deadon]

Powell just said Americans are cutting back on food. No recession tho.

 

[GoldenWolf87]

Powell just said Americans are cutting back on food. No recession tho.

Did i hear or read a article correctly rencetly that one of the Biden admin spokeperson said that its not a recession but a transition?
They are clueless.

 

[A Very Serious Cat]

Powell just said Americans are cutting back on food. No recession tho.

Probably a good thing tbh
A bright side of recession could be a reduction in obesity?

 

[Fake Doctor]

If you know where to look you can still do quite well. I got 30 pounds of okra for $15 yesterday... Now I just need to figure out how to cook okra.

 

[Rob Battisti]

Did i hear or read a article correctly rencetly that one of the Biden admin spokeperson said that its not a recession but a transition?
They are clueless.

I was told by the smartest man on Sherdog that no credible person could claim were in a recession.

 

[Halifax]

It's almost like I warned people a year ago this was coming!



I said from the moment Trudeau called election. "Ahh shit, here comes the whirlwind we reaped".
He spent a whole year saying "anyone who tries calling election during a pandemic is evil!" And then he went and did it himself lol.

Even libs and NDP voters were like "why is he doing this? He said not to do this"

And folks acted like I was some conservative fear monger when I said he would never have called election early unless he was sitting on modeling data showing just how bad this is about to get.

Or the modeling data showed a steep downward trajectory and he knew it was now or never

I warned folks early and often also about how bad inflation was about to get because of my friends who work numbers for wholesale. Back when folks were complaining about the minor August 2021 inflation LOL.

My buddy works in retail and purchasing wholesale. You ain't seen nothing yet.

It's going up a lot more. They are just doing gradual incremental raises currently so they don't shock the market

My instincts and info were correct. Everyone who argued with me back then and said I was fearmongering to badmouth liberals owes me an apology.

Oh and those who gave me shit for bringing up housing all the time.

It was puzzling to me that they spent an hour on climate, indigenous and systemic racism stuff and then only reserved like 2 minutes for housing

Edit: Meant housing

 

[Bizin]

This is no joke right now either, the basic costs of living for people go up 15 different times before the minimum wage goes up. That starts adding up over time and it's why more and more are homeless and more and more are out there running around stealing instead of earning.

 

[deadon]

Probably a good thing tbh
A bright side of recession could be a reduction in obesity?

True, it won't affect us but we're not fat anyway lol.
But I'm sure it will people on a fixed income that didn't have a lot to start with.

 

[deadon]

Did i hear or read a article correctly rencetly that one of the Biden admin spokeperson said that its not a recession but a transition?
They are clueless.

I heard that somewhere but don't remember if it was from the great one or not.

 

[Rygu]

I saw this coming the very minute I saw how much money had been printed from 2020-2021.

It's why I bought the cheapest 2 bdr condo I could find and put as much of a down payment on is as I could. It's why even though I could afford to eat out constantly yet I never eat out and my most common meal is rice and chicken. I know what's coming.

 

[Halifax]

I saw this coming the very minute I saw how much money had been printed from 2020-2021.

It's why I bought the cheapest 2 bdr condo I could find and put as much of a down payment on is as I could. It's why even though I could afford to eat out constantly yet I never eat out and my most common meal is rice and chicken. I know what's coming.

Yup. I was right there with you.

I renewed my mortgage for 10 years under this nice low rate as soon as Trudeau called election. And I bought my house years ago before the prices started skyrocketting.

If I had to do it again right now, I would be paying something like $500-$600 more a month. Those who bought in the last 3 years under these inflated prices might be hurting when their current comes up for renewal.

 

[Rygu]

Yup. I was right there with you.

I renewed my mortgage for 10 years under this nice low rate as soon as Trudeau called election. And I bought my house years ago before the prices started skyrocketting.

If I had to do it again right now, I would be paying something like $500-$600 more a month. Those who bought in the last 3 years under these inflated prices might be hurting when their current comes up for renewal.

Wait where can you get a 10 year mortgage in Canada?

Yeah I am locked in at 1.69% until March 2026 and am already saving to put as much as I possibly can on the principle to lower the monthly cost as I'm not getting a rate like that, that's for sure. I'm expecting by then to be lucky to get it at 4% on a variable.

 

[KeithHackneyballpunch]

Powell just said Americans are cutting back on food. No recession tho.

To be fair, Americans are fat as hell. This may be a good thing

 

[Sakurabaism]

Just build a shed and hunt mooses what's the prob. Bunch of weaklings.

 

[Fugazy]

If you know where to look you can still do quite well. I got 30 pounds of okra for $15 yesterday... Now I just need to figure out how to cook okra.

Fry it. Same way you fry catfish.

It’s good grilled, cut the pods in half and grill until tender, and it’s good in stews.

 

[deadon]

To be fair, Americans are fat as hell. This may be a good thing

Yes some are. I'm looking at the parents at gymnastics right now and I'd say the women avg is 160lbs. The men are fit.
I think this is more of a Midwest issue IMO.

 

[HockeyBjj]

I worry more about seniors on a fixed income than young people tbh.

My parents getting a 9% raise on their social security. So at least that’s happening

Their 401k nest egg is what’s concerning me on their ability to live out (the way they’d planned when they decided to retire) the next 20 years