The real problem with Vancouver’s outrageous house prices

[Migrant_Coconut]

It's not boomers, it's hosers. The housing crisis is only a symptom: Canada in general's in this weird puberty between the humdrum little backwater it used to be and the global superpower it wants to be; voters and politicians are starting to embrace the latter, but I don't think they fully comprehend everything that comes with it... or what they might have to give up to get there.

[logicbomb]

Originally Posted by Changing City

Out of 40 cabinet members, it looks as if only two are Boomers. The vast majority are Gen-X, with a couple of Millennials for balance.

The neoliberal policies were structured in the 80's and 90's. The MP's and Prime Minister may be Gen-X'ers and Millennials but they are serving the interest of that demographic with no regard to the younger generation. The prime minister outright stated that home prices need to retain value, primarily for seniors and those near retirement.

https://www.theglobeandmail.com/busi...-affordability

Recent policies have aimed at bringing an influx of cheap labourers via the LMIA program to care homes across the country (allowing them easier entry to PR).

[NewfBC]

Toronto is starting to have a problem.. is the same happening here?

https://www.youtube.com/watch?v=HSjriUm751A

Ron.

[Changing City]

Originally Posted by logicbomb

The neoliberal policies were structured in the 80's and 90's. The MP's and Prime Minister may be Gen-X'ers and Millennials but they are serving the interest of that demographic with no regard to the younger generation. The prime minister outright stated that home prices need to retain value, primarily for seniors and those near retirement.

https://www.theglobeandmail.com/busi...-affordability

Recent policies have aimed at bringing an influx of cheap labourers via the LMIA program to care homes across the country (allowing them easier entry to PR).

So the boomers aren't running the government. You're also misquoting the PM. He said "Housing needs to retain its value, It’s a huge part of people’s potential for retirement and future nest egg.” That's not just for the current retired population, it's for all home owners, a majority of whom are neither retired, or boomers. There are now more Gen X and Millennials owning homes than Boomers and Silent generation households.

[BaddieB]

Originally Posted by Changing City

You're also misquoting the PM. He said "Housing needs to retain its value, It’s a huge part of people’s potential for retirement and future nest egg.”

The prime minister outright stated that home prices need to retain value, primarily for seniors and those near retirement.

I don't think that's a misquote, I think that's just what the PM said. "Future nest egg" still ties into retirement, just for those further away from it. But it's true, it's lazy to blame boomers, it's really wider than that.

[Changing City]

Originally Posted by BaddieB

I don't think that's a misquote, I think that's just what the PM said. "Future nest egg" still ties into retirement.

Almost all homeowners retire eventually. A majority of homeowners aren't retired yet and many of them are relying on their home value for retirement or as a nest egg. So his statement was not just about seniors and those nearing retirement.

In fact, millennial and Gen X owners are much more likely to be impacted by falling home prices because they're more likely to have bigger mortgage debt, and could encounter negative equity. They're being protected more than seniors whose homes have been paid off.

[dreambrother808]

Blaming everything on the Boomers isn't very helpful or factual at this point. It's more of a distraction that only serves to release some emotional energy and frustration. It's better to focus on policies and issue specifics rather than blaming entire generations. This also accounts for how much within-generation variation in opinion exists.

[chowhou]

Speaking as a homeowner, the problem is definitely just homeowners in general. Once you have a stake in the game it becomes a lot harder to advocate for housing policy which, while overall a net positive, just might harm you personally.