Quote:
Originally Posted by Sliver
Not to mention it's absolutely perplexing why Fuzz thinks the kids raised there should have some sort of priority position in buying real estate at a discount from market value. That's not even a thing anywhere in the world. It's super dumb, honestly. Who fkn cares if they can or can't. Real estate - in Canada - goes to the person with the budget to buy what something is worth.
Canmore people think they should get special treatment, though. Totally weird.
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They do get a discount, in effect. Their parents have vast amounts of equity that they can either leverage or realize via downgrading to provide their children with massive down payments and/or inheritance. This is the norm in Vancouver. You see boomer parents with a house worth $2-3,000,000. They withdraw $500k to give their kids the means to buy in.
If you go that route you end up indebted to you parents who will keep you close to their detached property in an overcrowded condo, while they hold over your head how much of their "earned" money they gave you.
Fun times. And no I don't think anyone is owed anything. The housing crisis/generational wealth gap is a major issue though. It is the root of all housing issues in Canada (in combination with economic/developer issues limiting supply). Building higher density housing, is not the cause of our housing crisis.