Quote:
Originally Posted by nik-
There's rising house prices and then there's using Vancouver as your central model for comparison.
It's broken.
I'm not even saying that housing prices are fine, just that it's dumb to be "HURR, BOOMER!" because it's such a simple minded meme at this point. Do you honestly it's Boomers getting into the market now and maxing out their mortgages, buying way more than what they need because the bank will approve them and subsequently inflating the market? There's a lot more at play here than some communities not wanting high density construction. Which is also not just a boomer thing.
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You'd be surprised how many boomers own multiple properties. I know a few families whose entire retirement plan is profiting off of their rental properties. That said, it is a rich get richer scenario, their children will inherit these properties and likely continue to be land lords, and so on.