Jun 6, 2023·edited Jun 7, 2023Liked by Russil Wvong
Great post and comment on Reddit. It's beyond belief. It's fair to say the social contract is broken for young people, at least in the GTA and southern Ontario, BC, and a few other parts of Canada.
It's not fair that older folks who bought in the 80s, 90s, 00s, and even early 10s are sitting on effective lottery tickets of 500k or more and that this is how boomer retirements will be funded.
It was bad enough when homes became grossly unaffordable but now that rents are crushingly high, there’s no escape. We either fund the windfall to homeowners through purchase of their homes or by renting their properties. The wealth transfer from the young to the elderly and home owning is grossly unfair. Stagnant wages, lower employment security, and weaker economic growth exacerbate these issues.
I'm not a populist, but when Pierre Poilievre speaks about this issue, it connects, so I can't imagine how it feels for others. Not that he will solve the problem, but its certainly hitting my buttons as an otherwise progressive, wonky, liberal person.
Great post and comment on Reddit. It's beyond belief. It's fair to say the social contract is broken for young people, at least in the GTA and southern Ontario, BC, and a few other parts of Canada.
It's not fair that older folks who bought in the 80s, 90s, 00s, and even early 10s are sitting on effective lottery tickets of 500k or more and that this is how boomer retirements will be funded.
It was bad enough when homes became grossly unaffordable but now that rents are crushingly high, there’s no escape. We either fund the windfall to homeowners through purchase of their homes or by renting their properties. The wealth transfer from the young to the elderly and home owning is grossly unfair. Stagnant wages, lower employment security, and weaker economic growth exacerbate these issues.
I'm not a populist, but when Pierre Poilievre speaks about this issue, it connects, so I can't imagine how it feels for others. Not that he will solve the problem, but its certainly hitting my buttons as an otherwise progressive, wonky, liberal person.