Comments on: What is RICH in Canada? http://www.canajunfinances.com/2007/09/24/what-is-rich-in-canada/ Personal Finances and Consumer Concerns, essays, stories, examples and how to articles with a distinctly Canadian Point of View Wed, 07 Jan 2009 21:04:20 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Outroupistache http://www.canajunfinances.com/2007/09/24/what-is-rich-in-canada/comment-page-1/#comment-713 Outroupistache Sun, 30 Sep 2007 22:08:00 +0000 http://www.canajunfinances.com/?p=707#comment-713 Good data, now how about a different take - finding out how much net assets instead of income counts as rich? Good data, now how about a different take - finding out how much net assets instead of income counts as rich?

]]> By: Mark http://www.canajunfinances.com/2007/09/24/what-is-rich-in-canada/comment-page-1/#comment-706 Mark Wed, 26 Sep 2007 15:09:00 +0000 http://www.canajunfinances.com/?p=707#comment-706 <a HREF="http://www.e-paydayloan.co.uk/" REL="nofollow">cash advance</a><br/>I am also agree with TRACIATIM that if you comes in the top 25% of the population then you are rich, But still a great take. cash advance
I am also agree with TRACIATIM that if you comes in the top 25% of the population then you are rich, But still a great take.

]]> By: Big Cajun Man http://www.canajunfinances.com/2007/09/24/what-is-rich-in-canada/comment-page-1/#comment-701 Big Cajun Man Tue, 25 Sep 2007 00:46:00 +0000 http://www.canajunfinances.com/?p=707#comment-701 Excellent take! Excellent take!

]]> By: Traciatim http://www.canajunfinances.com/2007/09/24/what-is-rich-in-canada/comment-page-1/#comment-700 Traciatim Mon, 24 Sep 2007 19:16:00 +0000 http://www.canajunfinances.com/?p=707#comment-700 I think that 'rich' would be much further down on the list than the top 5%. I would gather that Rich has a much different meaning for each person, but I would think if you are in the top 25% of the population you should probably be considered 'rich'. <br/><br/>If you walk down the street knowing that out of every four people you see you are probably making more than three of them, you probably shouldn't need to worry about money if you manage your money well. <br/><br/>Though, then again, at 5% and only $89,000 was the magic number. With 32% to put toward a house that leaves you only leaves $2373 a month for a housing payment. A home in Vancouver on 2006 the average selling price from the CREA was $520,686 with 20% down ($104,137.20) anda 4.99% interest rate that makes your payments $2,420.30. <br/><br/>So even the top 5% of the population can't buy the average selling home in Vancouver. Maybe only the top 4% of the population lives there?<br/><br/>P.S. I know, wages from 2004, CREA from 2006 . . . blah blah blah, I still stand by my point. No one should be buying houses in places that are that expensive. I think that ‘rich’ would be much further down on the list than the top 5%. I would gather that Rich has a much different meaning for each person, but I would think if you are in the top 25% of the population you should probably be considered ‘rich’.

If you walk down the street knowing that out of every four people you see you are probably making more than three of them, you probably shouldn’t need to worry about money if you manage your money well.

Though, then again, at 5% and only $89,000 was the magic number. With 32% to put toward a house that leaves you only leaves $2373 a month for a housing payment. A home in Vancouver on 2006 the average selling price from the CREA was $520,686 with 20% down ($104,137.20) anda 4.99% interest rate that makes your payments $2,420.30.

So even the top 5% of the population can’t buy the average selling home in Vancouver. Maybe only the top 4% of the population lives there?

P.S. I know, wages from 2004, CREA from 2006 . . . blah blah blah, I still stand by my point. No one should be buying houses in places that are that expensive.

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