Quote:
Originally Posted by CliffFletcher
I doubt that attitude is very widespread. Especially if there are grandchildren involved. The average Canadian today inherits $100k, usually in the form of a share of a family home. That number is going to go higher as the wealthiest generation to ever walk the planet starts to die off.
Canada will likely revert to the way families were 100+ years ago, and still are in most of the world: an intergenerational economic unit where much of a person's property and wealth will come through inheritance. One of the reasons the property market has far outpaced incomes is because young adults in Canada often have access to family capital. Not many young couples can afford a $500k mortgage. The bank of mom and dad bridges the gap.
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Must be nice for those people. My parents came from nothing and expect people to make their own way in the world. We provided food and a roof until you were 18. You're on your own from here. Also couldn't apply for student loans because my parents made too much money. Lots of summers spent up north working so I could pay for school.