A six-figure salary used to mean you were ahead. Today, it’s not enough.
A housing expert recently told Canada’s finance committee that earning $110,000 a year still won’t get you into a home in major cities like Toronto or Vancouver. Thirty years ago, that same income would have made homeownership realistic. Now, it barely gets you in the game.
Home prices have risen much faster than incomes, and higher interest rates have made mortgages more expensive. The result is simple: even strong earners are being priced out.
For everyday people, this changes how money works. Owning a home is no longer a guaranteed step. More people are renting longer, delaying purchases, or leaving major cities entirely in search of affordability.
At the same time, your budget is under pressure. Housing is your biggest expense, and when it rises, everything else gets tighter—less savings, less investing, and less flexibility.
It also makes building wealth harder. Real estate has been one of the main ways people grow wealth over time. If you can’t get into the market, you miss out on long-term equity and rising property values.
The gap is widening. People who already own property continue to benefit, while those trying to enter the market face higher barriers every year.
The bigger shift is this: markets today reward assets, not just income. Access to capital, investing early, and building multiple income streams matter more than ever.
The old plan—get a good job and buy a house—is no longer reliable. If you want to move forward financially, the focus has to shift toward building assets and growing income beyond your salary.
Because in today’s economy, earning well is no longer enough—owning assets is what builds real wealth.