Quote:
Originally Posted by blankall
Seniors staying in their detached homes past the point they need to, or in many cases can, be there is a huge societal problem. There's a massive housing shortage for young families.
If a senior can't upkeep their home, they should downsize to a condo. Instead we have families crammed into the condos.
This is part of a bigger issue of baby boomers being detached from reality. Back on topic, it's shocking how many baby boomers are carrying debt when they should have money saved up for retirement. Instead of saving they're just taking advantage of Canada's fiscal, zoning, and foreign investment policies which have pushed the value of property through the roof. Essentially forcing young people into cramped living spaces and then forcing the ones that get ahead to spend their lives paying off their homes, inheriting the massive debt levels that there boomers created.
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Detached from reality? So someone who has lived in a home for decades, have thousands upon thousands of great memories there, some of which cannot be replaced, must move out so that a young family can rip it all apart and live there for cheaper because housing shortage?
Why the heck do you think seniors are insistent on staying in a detached home in the first place even to the detriment of their financial situation? It's a huge generational gap. Older generations put so much emotion and meaning into things. New generations do not.