For example, a friend of mine was complaining that he had to work hard to afford a house. However, he was dead-set on a set of ideals and a location he wanted to settle at. Maybe part of that was preference, but it was clear that part of that was some sort of preconceived notion hammered into him by society and peer examples.
Instead, he could have aimed to buy a cheaper house in a smaller town while working/renting in the current town and just moved out. In my home town, even smaller houses cost at least 400K but there are plenty of nice places where the houses are 60K. So, buy one of those instead and move away once you've saved up enough...
By taking a month and seriously going through what's important to have a happy, "basic" life, most people will find things that they can give up, but that will make them happier in the long run. Like living in a certain neighbourhood, buying this or that, taking a certain number of vacations, having an extra child, a dog, etc.
Most people end up saving TOO much for retirement...and while caution is good, our society hammers this idea of an extremely consumptive lifestyle that these endless 9-5 jobs support.
Citation super needed. Where in the US can I buy a house for $60,000? Does it have a roof?
I still agree with the general sentiment though. I'm happy with living in a 1br condo and taking public transport, but I had coworkers that "needed" a detached house with a back yard and a moderately expensive car.
Where it takes 4+ typical incomes to make basic bills(kind of everywhere), most apartments are a tough option.
- So far away from a major (by Canadian standards) city you're basically living in the middle of nowhere
- Run down and you're looking at 100k in renovations and upgrades
- Unless you're working remotely or are already well off, there are no well paying jobs out in the middle of nowhere
- Education is an issue: far away from schools for kids and only southern BC, southern Ontario, southern Quebec have high ranking universities/colleges
Any house in a desirable location is out of reach for many people. More and more people are now looking further out, thus driving prices higher in those locations as well. I don't think these people are looking to necessarily move out into the middle of Saskatchewan or other middle-Canada provinces where they can get those 100k homes for the reasons listed above.
Couple of examples
https://www.realtor.ca/real-estate/25857143/101-galway-stree...
https://www.realtor.ca/real-estate/25917262/323-pottery-stre...
https://www.realtor.ca/real-estate/25938347/3-pacholok-avenu...
The attitude of "keeping up with the Joneses" is almost an urban legend. People are not moving to the suburbs and having kids and dogs because they aren't strong enough to stand up to societal pressures. They move to the suburbs and have kids and dogs because that's what they've done throughout human evolution. The person who thinks they can leave and live independently is the oddball.
I have a bridge to sell to you.