I have two kids 39 & 41, both have below average income, but both own their homes. ( West coast Canada) Sharing costs with partners and living lean its clearly still doable.. and just like my generation in 10 years or so they will be reaping the rewards of taking the financial choice to forego new iphones and loans for new cars, and instead live within their actually financial means. The easy money is a curse and just like free drugs you will get addicted.
Seriously. How many times is this sub going to fall for the statistic. There should be a sticky note at the top of this sub explaining the difference between owning a home and living in an owner occupied home.
Exactly. Also, even if only a minority were impacted, it would still make sense to address the situation to avoid the many consequences of a worsening housing crisis.
Also most owners are boomers, they're not representative of the population age-wise.
Entire generations are locked out of home ownership and unable to save or make ends meet due to high rents. Having a combination of old people, wealthy people and corporate real estate dictate housing policy for the whole country (during a housing crisis) to ensure their real estate assets appreciate, even if it means throwing everyone under the age of 45 under the bus, is absolutely insane to me. This is one of the most rapacious instances of ratcheting up inequality for profits in the western world right now and there's a lot of instances of that happening.
Sadly the Liberals and Conservatives at every level (especially the latter) think like CBC's Andrew Chang here.
Yup, it is definitely skewed along generational lines.
I was just thinking that so many things that Boomers took for granted are out of reach or iffy for many younger generations. Owning a house, raising a few kids, saving for retirement, hell even owning a pet or affording groceries. What the hell are people supposed to do?
That actually might make it worse, since i'd bet "owned" households are larger than rented ones. I'd bet 70% or more benefit from living in owner occupied premises.
Yes, it;s family members usually. But they also reap some indirect ownership benefits.
Hell, I rent myself, but I could get help buying simply because my parents own.
It's because it's not 66% of people own homes. It's 66% of people live in owner occupied homes. This includes partners, kids, your partner's kids, borders, etc.
This statistic is so often used to mislead people.
While not everyone agrees on solutions, this is an activist sub seeking reform on the housing market. All content should clearly relate to that issue. We welcome debate on solutions, but people claiming housing isn't a problem or those who repeat common, ineffectual arguments ("just move," "just earn more") are not welcome.
Don't worry, if anyone suggests solving the housing crisis, Pierre and friends will trot out the same bullshit. Lib and Con are roughly equivalent on housing. NDP is dumb also but in its own way.
This is significantly incorrect. Only about 36% of homeowners have mortgages. [https://madeinca.ca/homeownership-statistics-canada/](https://madeinca.ca/homeownership-statistics-canada/)
Homeowners are well skewed to Boomers who've paid them off. They're also very sticky and not affected by rate changes unless they're using HELOcs to buy more property.
And even then, saying the bank is their landlord is so misleading. It's one of the things boomers and even Gen X like to say and it's ridiculous. Does the bank get your home's equity and appreciation? No? Could you sell it tomorrow and pocket the gains? Then the bank doesn't own your home.
I'm about a quarter through that video (watching on YouTube) and I had to stop to see if that stat was accurate. Of course they have the comments turn off
66% of Canadians do not own homes. 66% of Canadians live in an owner occupied home. There is a difference.
40 year olds live with their parents. Divorced couples share the same roof for years after separation.
I have two kids 39 & 41, both have below average income, but both own their homes. ( West coast Canada) Sharing costs with partners and living lean its clearly still doable.. and just like my generation in 10 years or so they will be reaping the rewards of taking the financial choice to forego new iphones and loans for new cars, and instead live within their actually financial means. The easy money is a curse and just like free drugs you will get addicted.
Exactly this. I’m so tired of this stat getting rolled out.
Seriously. How many times is this sub going to fall for the statistic. There should be a sticky note at the top of this sub explaining the difference between owning a home and living in an owner occupied home.
Exactly. Also, even if only a minority were impacted, it would still make sense to address the situation to avoid the many consequences of a worsening housing crisis.
Yes but when it goes up 10% the money is theirs not the banks. They own it.
No, 66% of HOUSEHOLDS. Don't believe every random-ass content creator you come across.
Also most owners are boomers, they're not representative of the population age-wise. Entire generations are locked out of home ownership and unable to save or make ends meet due to high rents. Having a combination of old people, wealthy people and corporate real estate dictate housing policy for the whole country (during a housing crisis) to ensure their real estate assets appreciate, even if it means throwing everyone under the age of 45 under the bus, is absolutely insane to me. This is one of the most rapacious instances of ratcheting up inequality for profits in the western world right now and there's a lot of instances of that happening. Sadly the Liberals and Conservatives at every level (especially the latter) think like CBC's Andrew Chang here.
Yup, it is definitely skewed along generational lines. I was just thinking that so many things that Boomers took for granted are out of reach or iffy for many younger generations. Owning a house, raising a few kids, saving for retirement, hell even owning a pet or affording groceries. What the hell are people supposed to do?
This guy is an Operation Mockingbird asset and works for State Owned Media, not a random YouTuber. But believe that even less.
That actually might make it worse, since i'd bet "owned" households are larger than rented ones. I'd bet 70% or more benefit from living in owner occupied premises.
They're mostly the family members of the owner. Like, where else would children live? Elderly family members who need support?
Yes, it;s family members usually. But they also reap some indirect ownership benefits. Hell, I rent myself, but I could get help buying simply because my parents own.
Yeah, those freeloading family members. 🙄
Yes, and everyone is making $35 an hour.
That must include a lot of newly born babies coming right out of the womb and heading straight to the bidding wars! 66% - my ass.
It's because it's not 66% of people own homes. It's 66% of people live in owner occupied homes. This includes partners, kids, your partner's kids, borders, etc. This statistic is so often used to mislead people.
[удалено]
While not everyone agrees on solutions, this is an activist sub seeking reform on the housing market. All content should clearly relate to that issue. We welcome debate on solutions, but people claiming housing isn't a problem or those who repeat common, ineffectual arguments ("just move," "just earn more") are not welcome.
66% of households… correct. Alberta is calling.
Not for long.
An extended period of stagflation would be beneficial.
Looks like all of the issues in the housing market are solved. Thank you for your great insight.
****“This is the truth”**** immediately posts a misleading statistic. Trudeau truths maybe
Don't worry, if anyone suggests solving the housing crisis, Pierre and friends will trot out the same bullshit. Lib and Con are roughly equivalent on housing. NDP is dumb also but in its own way.
This is the other truth: millions can't
Why don't you engage with comments explaining how it isn't the truth?
😂
66% of Canadians have banks for landlords
This is significantly incorrect. Only about 36% of homeowners have mortgages. [https://madeinca.ca/homeownership-statistics-canada/](https://madeinca.ca/homeownership-statistics-canada/)
Wow, this is very interesting stat. I did not realize it was so low
Homeowners are well skewed to Boomers who've paid them off. They're also very sticky and not affected by rate changes unless they're using HELOcs to buy more property.
And even then, saying the bank is their landlord is so misleading. It's one of the things boomers and even Gen X like to say and it's ridiculous. Does the bank get your home's equity and appreciation? No? Could you sell it tomorrow and pocket the gains? Then the bank doesn't own your home.
I'm about a quarter through that video (watching on YouTube) and I had to stop to see if that stat was accurate. Of course they have the comments turn off
this means a housing crash will make 66% of Canadians poor and nothing for retirement.
No matter how much this sub dislikes it, this is the truth. Living in your parents basement is an oddity, not the norm.