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Joined 3 years ago
Cake day: June 16th, 2023
  • NSAbot@lemmy.catoCanada@lemmy.ca•David Eby's gambit folks
    1·
    7 hours ago

    I was interested in this comparison so I did a small amount of research on total cost of living in Vancouver vs Stockholm Sweden for a high earner like a doctor, lawyer @$330k CAD with a modest 3 bedroom home (townhouse) along with the proposed NDP tax increases. This is the conclusion. High earners under the proposed system in Vancouver get the high taxes of Sweden with the high cost of living of right wing capitalism:

    • You save more cash in Stockholm:Despite losing an extra $1,717 CAD every single month to Swedish income taxes, the structural sanity of the Swedish housing market saves you $3,091 CAD a month in raw mortgage math. This leaves you with roughly $1,380 CAD more surplus cash per month in Stockholm.
    • The Equity Difference: In Vancouver, you are building equity on a larger asset ($1.27M vs $912k), but you are heavily exposed to interest rate volatility. If rates jump 1% at renewal in Canada, your budget breaks. In Sweden, your exposure is mitigated by the interest tax write-off.