Canadian average weekly wage $909

W

Wallace

"Average weekly earnings of non-farm payroll employees were $909
Average weekly earnings in construction increased to $1,166
In public administration, weekly earnings rose to $1,173
Weekly earnings in administrative and support services increased to $763
Average weekly earnings in professional, scientific and technical services grew to $1,265
In accommodation and food services, year-over-year earnings edged down to $360 ."
calculation details: http://www.businessweek.com/news/20...ary-employment-earnings-and-hours-report-text

surprised the average weekly wage is as high as $909
 
I don't think people are quite aware of how high the debt is in Canada. I keep hearing people be "thankful" that Canadians aren't like the US, but in reality, it has some of the highest debt ratios around. Houses are long overdue for a price correction. Many people won't bat an eye at buying a $300,000 house on $40k a year...
 
Quote from Wallace:

"Average weekly earnings of non-farm payroll employees were $909
Average weekly earnings in construction increased to $1,166
In public administration, weekly earnings rose to $1,173
Weekly earnings in administrative and support services increased to $763
Average weekly earnings in professional, scientific and technical services grew to $1,265
In accommodation and food services, year-over-year earnings edged down to $360 ."
calculation details: http://www.businessweek.com/news/20...ary-employment-earnings-and-hours-report-text

surprised the average weekly wage is as high as $909
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By comparison the US average weekly wage is $773 per week.


Seems like they are making more money until you look at median home prices. In Canada median home prices are $353,000. In the US, its $238,000. Basically all that extra money just goes into housing.
 
Quote from peilthetraveler:

By comparison the US average weekly wage is $773 per week.


Seems like they are making more money until you look at median home prices. In Canada median home prices are $353,000. In the US, its $238,000. Basically all that extra money just goes into housing.
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Isn't Canada more urbanized? That's probably the answer right there.
 
Quote from peilthetraveler:

.....Seems like they are making more money until you look at median home prices. In Canada median home prices are $353,000. In the US, its $238,000. Basically all that extra money just goes into housing.
More...

Two days ago, I was visiting with friends in Abbotsford, B.C. It was only on the tangent that housing was mentioned, and even then just a sentence or two. In stark contrast to our own self-made destruction in the U.S., I was told house prices there were little affected from the melt-down that was happening across the border from them.
 
Alberta has a slight climb in housing prices right now. The unemployment is low, the weekly wages are high, and Calgary has the highest number of Americans per capita (outside of the USA) living here last I heard. Why shouldn't average weekly wages climb to over 1100.

I am quite surprised that house prices are strengthening here currently. I presume that is due to the people who want to work and not look for handouts (our teachers and politicians exempted). Saskatchewan is even better than Alberta since they have a better premier.

For a real laugh, look at the projected provincial growth rates in 2 years.

One disturbing thing I heard last week (visiting friends on false creek) was that up to one-third of Vancouver condos are unoccupied. That makes me wonder about Alberta condos. Sounds a lot like China to me.
 
Quote from deucy28:

Two days ago, I was visiting with friends in Abbotsford, B.C. It was only on the tangent that housing was mentioned, and even then just a sentence or two. In stark contrast to our own self-made destruction in the U.S., I was told house prices there were little affected from the melt-down that was happening across the border from them.
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One clue is the difference in owner equity and required down payments. ARMs didn't get started in a big way here - mostly by luck I think.
 
Quote from peilthetraveler:

In Canada median home prices are $353,000. In the US, its $238,000. Basically all that extra money just goes into housing.
More...

Perhaps other expenses associated with house purchase are less in Canada. Insurance, property school tax, sewer water and energy costs and distance from work.

These expenses in the US are quite high.
 
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