Elderly Assistance Increasing Home Unaffordability In Toronto

[Economy 53,162]

https://www.bnnbloomberg.ca/rich-boomers-to-keep-millennials-out-of-toronto-housing-cmhc-1.1299035

 

Increased Government assistance for the elderly last several years has resulted in at least 1 unexpected unintended consequence

 

In the past the elderly often sold their homes to access equity and would either downsize or move into a retirement home

 

However, improved economic conditions among the elderly has resulted in seniors holding on to their homes for record periods of time. 25% of homes in Toronto are now owned by people 65 or over

 

The result is that supply that used to becamo available from older generations in the past is no longer becoming available in as great a quantity. As a result, this unavailable supply is causing the home unaffordability problems for young generation even worse

 

[Guest]

simple solution: stay homeless until they die out

[RAMROD 118,151]

Not like anything will change when they die out, they are likely to have family yo passed the house on anyway. Blaming the elderly for housing issues is not fair.

[gabeoz 7,915]

Simple: put down the elderly

[Economy 53,162]

36 minutes ago, RAMROD said:

Not like anything will change when they die out, they are likely to have family yo passed the house on anyway. Blaming the elderly for housing issues is not fair.

No one said they are the reason for the housing crisis tho...

 

Just that this trend is a contributing factor

[AmericanxDream 2,049]

I was planning on retiring in Toronto, but damn never mind.