Canadians 'drowning in debt': 47% will borrow to cover costs, survey says

[peter12]

Originally Posted by nik-

No? No other generations compounded it? That's your stance?

It's kind of tough to say that when Millennials especially have far more depressing economic outlooks than their Boomer parents.

I will say from personal experience both consulting and advocating on this position that political resistance to reform in the housing market pretty clearly comes from a single generation.

[TheIronMaiden]

Originally Posted by Weitz

Perhaps people don't like living inner city when they reach a certain age?

I absolutely couldn't stand the last year I lived in the Kensington area.

I am genuinely curious what the appeal of living in the deep suburbs is.


My experience living in the suburbs was that it was awful. I it was a 50 minute commute in the morning, and an 1 hour plus in the afternoon ( on public transit). I was 2 km from the nearest restaurant/ bar ( Tim Hortons doesn't count). If I wanted to do any activities it was a 15 - 20 minute drive to the city centre and I would have to pay for parking. All the houses looked the same, the neighbours were just as ####ty leaving passive aggressive notes about guests parking. The only up side was that the house was bigger, which was nice because I could always use an empty room.

[rubecube]

Originally Posted by nik-

No? No other generations compounded it? That's your stance?

This argument is the equivalent of when someone dies of AIDS complications and one person has to argue that it was actually the pneumonia that killed them.

[peter12]

Originally Posted by rubecube

This argument is the equivalent of when someone dies of AIDS complications and one person has to argue that it was actually the pneumonia that killed them.

Terrible metaphor, but I hear you.

[nik-]

Originally Posted by peter12

It's kind of tough to say that when Millennials especially have far more depressing economic outlooks than their Boomer parents.

I will say from personal experience both consulting and advocating on this position that political resistance to reform in the housing market pretty clearly comes from a single generation.

Millennials are entering their late 30's Peter, a ton of them have bought houses in those NIMBY areas, started families are interesting in increasing their asset value. Having a more depressed economic outlook doesn't mean that they don't participate in the same economic system, often foolishly. They do.

They're not as culpable as Boomers, clearly, but I'd say Gen-X is. Boomers voted for laws, Gen-X provided the gasoline and Millennial detached homebuyers are following the same mantra.

[peter12]

Originally Posted by TheIronMaiden

I am genuinely curious what the appeal of living in the deep suburbs is.


My experience living in the suburbs was that it was awful. I it was a 50 minute commute in the morning, and an 1 hour plus in the afternoon ( on public transit). I was 2 km from the nearest restaurant/ bar ( Tim Hortons doesn't count). If I wanted to do any activities it was a 15 - 20 minute drive to the city centre and I would have to pay for parking. All the houses looked the same, the neighbours were just as ####ty leaving passive aggressive notes about guests parking. The only up side was that the house was bigger, which was nice because I could always use an empty room.

Growing up in Millview (DEEP SOUTH CALGARY) and commuting 90 minutes back and forth to UofC every day thankfully left me with no student loans and a deep deep deep desire to never ever live in the suburbs. Apartment living was and is still an incredibly enjoyable way to live life. I haven't commuted to worth ever in my life. What a joy.

[peter12]

Originally Posted by nik-

Millennials are entering their late 30's Peter, a ton of them have bought houses in those NIMBY areas, started families are interesting in increasing their asset value. Having a more depressed economic outlook doesn't mean that they don't participate in the same economic system, often foolishly. They do.

They're not as culpable as Boomers, clearly, but I'd say Gen-X is. Boomers voted for laws, Gen-X provided the gasoline and Millennial detached homebuyers are following the same mantra.

I see your point, but it doesn't hold up much more than just an excuse.

[nik-]

Originally Posted by peter12

I see your point, but it doesn't hold up much more than just an excuse.

Please tell me you see the irony here.

[peter12]

Originally Posted by nik-

Please tell me you see the irony here.

The Canadian housing market is pretty hard to opt out of.

Clearly, we both agree that the housing market is in need of serious reform, I just have a bit more disdain for the white hairs than you do, and that's fine!

[stone hands]

im a middle millennial(31)

most of my friends who bought houses essentially did what has been stated in this thread:

asked the bank for the most money possible and bought the biggest available house, and are unable to get ahead because of it

there was an ad on the radio a little while ago that was basically saying: go to this website and we will tell you how much your mortgage payment will be! this concept is insane to me, your own budget should dictate what your mortgage payment should be. when we bought our place, we were approved for 200k more than what we ended up buying our house for. i'm all for people spending their own money however they want, but i was almost appalled at the number the bank was ready to give us, it was just completely irresponsible of them to make that an option, and then i realized that number is what most people will go for

[btimbit]

Originally Posted by TheIronMaiden

I am genuinely curious what the appeal of living in the deep suburbs is.


My experience living in the suburbs was that it was awful. I it was a 50 minute commute in the morning, and an 1 hour plus in the afternoon ( on public transit). I was 2 km from the nearest restaurant/ bar ( Tim Hortons doesn't count). If I wanted to do any activities it was a 15 - 20 minute drive to the city centre and I would have to pay for parking. All the houses looked the same, the neighbours were just as ####ty leaving passive aggressive notes about guests parking. The only up side was that the house was bigger, which was nice because I could always use an empty room.

Favourite pub is still just a few minutes away, I have room for my 3 vehicles, I can play my guitars loudly without disturbing anyone, big backyard for my dog to run around, big garage for hobbies.

Short version is it's quieter, more space, less people

[nik-]

Originally Posted by rubecube

This argument is the equivalent of when someone dies of AIDS complications and one person has to argue that it was actually the pneumonia that killed them.

haha, what an awful post.

[peter12]

Originally Posted by btimbit

Favourite pub is still just a few minutes away, I have room for my 3 vehicles, I can play my guitars loudly without disturbing anyone, big backyard for my dog to run around, big garage for hobbies.

Short version is it's quieter, more space, less people

You painted me a mental picture that made me shudder.

[peter12]

Originally Posted by nik-

haha, what an awful post.

Why are you an AIDS denialist?

[Weitz]

Originally Posted by TheIronMaiden

I am genuinely curious what the appeal of living in the deep suburbs is.


My experience living in the suburbs was that it was awful. I it was a 50 minute commute in the morning, and an 1 hour plus in the afternoon ( on public transit). I was 2 km from the nearest restaurant/ bar ( Tim Hortons doesn't count). If I wanted to do any activities it was a 15 - 20 minute drive to the city centre and I would have to pay for parking. All the houses looked the same, the neighbours were just as ####ty leaving passive aggressive notes about guests parking. The only up side was that the house was bigger, which was nice because I could always use an empty room.

Well, I don't live deep south so I can't really comment on that.

But I live on the west edge of the city. 23 minutes from when I sit in my car till I sit at my desk in the morning. 25-30 minutes home after work. I've got lots of restaurants/bars/services within 2 km. A ton more if you stretch it to 5 km. My neighbors are great. My hobbies are all on the west side of town/out of town.

It seems to me you picked a poor location for where you wanted to be.

[nik-]

Originally Posted by peter12

The Canadian housing market is pretty hard to opt out of.

Clearly, we both agree that the housing market is in need of serious reform, I just have a bit more disdain for the white hairs than you do, and that's fine!

I have disdain for them too, but I'm not just of the mindset that they're the main reason. It's just a shallow argument. They're a big part, but so are many others, including Millennials.

[peter12]

Originally Posted by Weitz

Well, I don't live deep south so I can't really comment on that.

But I live on the west edge of the city. 23 minutes from when I sit in my car till I sit at my desk in the morning. 25-30 minutes home after work. I've got lots of restaurants/bars/services within 2 km. A ton more if you stretch it to 5 km. My neighbors are great. My hobbies are all on the west side of town/out of town.

It seems to me you picked a poor location for where you wanted to be.

The west edge of Calgs was pretty good. Most expensive place in town to live, generally, if I recall.

[nik-]

Originally Posted by peter12

Why are you an AIDS denialist?

It'll always be SIV to me.

[peter12]

Originally Posted by nik-

I have disdain for them too, but I'm not just of the mindset that they're the main reason. It's just a shallow argument. They're a big part, but so are many others, including Millennials.

Well, if you read my posts, I mention a lot more than just Boomers.

[btimbit]

Originally Posted by peter12

You painted me a mental picture that made me shudder.

Yeah and to each their own, I just personally have zero reason to ever go to downtown Calgary ever, so why would I sacrifice my space and quiet to be closer to it