It's not luck. It's a good work ethic, the ability to budget, and the the fortitude to recognize that you aren't entitled to anything -- you have to work for it, and budget for it, and make compromises to get ahead.
The problem with applying average data in such broad strokes is that the average is not reality. If you want to buy a freehold home in the lower mainland as your first home you better have the number that you're quoting from RBC. Otherwise you buckle down and purchase the home you can afford not the home you want. Start with a condo or townhouse.. move further out from the city. Homes are less expensive depending on the area you purchase in, and buying the one bedroom condo to start, instead of the freehold home is certainly more affordable. Work for what you want. Make compromises. Purchase with a friend, rent out a room, kudos if you have a basement suite. Take a good hard look at the numbers and understand that you can't have everything you want... and decide what's important to you. Put your money where it matters.
I am not "fortunate" or "lucky". Neither are my kids. I didn't inherit any money, I didn't win the lottery. I didn't give my kids money, and they didn't win the lottery. If something isn't in my budget I don't buy it. I taught my kids to be fiscally responsible.
I don't know your personal situation, but I've worked in the financial services industry giving people financial advice for about 30 years now... I have a pretty good idea how many people think and it's unfortunate that many feel entitled to more than they can afford. If you're carrying a balance on your credit card, or are carrying debt that didn't purchase an asset or move you forward in your personal goals, you're being foolish, and there are many many foolish people out there. Buckle down, cut back on the things that you don't need and eliminate any debt you carry.
Is your cell phone plane necessary? Do you really need the number of cars you own?. Do you really need to go to Starbucks or any other ridiculously overpriced beverage outlet? Take a good hard look at how people make their financial decisions and try to tell me that "for whatever reason the are struggling to get by". There are definitely people out there in need. I volunteer at the food bank, I'm quite aware of need.
Most people aren't "in need" they're "in want".
So yes,... I Still disagree with you. Yes, we have problems.. but we're still doing pretty good.
