Posted Jul 3, 2024, 4:11 AM
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Registered User
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Join Date: Feb 2009
Location: Vancouver
Posts: 27,396
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Quote:
Originally Posted by Changing City
See? No mention of Boomers.
These days, there are more Millennials and Gen X owning their homes than Boomers. And far more have mortgages.
As Warren pointed out recently, Boomers are mostly retired, collecting their CPP and OAS. They can afford to lose some equity far more than Gen X or Millennials who are relying on the the value of their home not dropping, as it's a huge part of their potential for retirement and future nest egg.
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….Baby Boomers are the biggest homeowner age group, accounting for over 40% of all homeowners in Canada. Just under 60% of new homes were owner-occupied in 2021.Jun 11, 2024…
https://madeinca.ca/homeownership-statis...gest,were%20owner%2Doccupied%20in%202021.
And regardless if Gen Xers are creeping up, the fact remains the government has painted us into a corner in that housing prices can’t come down to be “affordable” and interest rates can’t come down without risking more inflation.
Last edited by whatnext; Jul 3, 2024 at 4:22 AM.
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