How will the next generation buy real estate?
The next generation getting in now don't have equity.
Taxes are much higher both income and land transfer taxes
Property taxes higher
I personally think Canadian prices are beyond realistic because to afford homes at today prices you need a high salary.... but taxes in Canada are insanely high. You pay for your house in after tax dollars!
Also the boomers I believe haven't quite figured out how expensive senior care is!
Lastly....the government thinks someone who earns a high salary is rich. They might have ZERO net worth. However someone who won the property lottery sitting on millions of equity but very small income... is poor when it comes to taxation...
When will the millenials wake up and realize they are being duped?