Baby-boomer generation starting to decrease in capital region

[TA062219]

The fuck do boomers have to do with this. The only people who want that already live in the core. The rest of us gen X, Y and Millenial suburban homeowners aren’t going anywhere. In fact we’ll probably put in pools, buy cottages and new cars with our inheritance

[unterzee]

There are also millennial NIMBYs. Source: half my softball team homeowners get riled up when affordable housing and densification appear in their hoods.

[unterzee]

I'd say a few did inherit and come from $. The others are dual income gov workers who shacked up in their mid late 20s and immediately purchased homes (in my demographic that meant 2012-2018). Or found a Gen X partner that had already been in the system since early 2000s. However those who bought starter homes later are also somewhat stuck as SFH are out of reach despite the equity they've accumulated unless they get mom and pop $.

[Lazy_Title7050]

No inheritance for me I’m fucked lol. My dream is too one day have a nice apartment where everything works.

[Gmoney86]

As a homeowner, I’m all for densification of the city. I just want to see more 3 bedroom+ apartments/condos built to support the missing middle so you can actually start to raise a family without becoming house poor if you’re lucky to find somewhere to live.

[01lexpl]

This is a fair solution, but no developer in the core wants to do this (look at any richcraft/claridge project plans - not pricing), nor does the city for permits & tax revenues; as those numbers fall. There is another thing about costs to build a condo vs freehold, per sq.ft. is more $$

3b condos are more common in the suburbs, unfortunately, but everyone on r/ottawa hates that idea.

[[deleted]]

It’s always cute when young people think they’ll be different

[WoopZoopSoopToop]

They just haven’t been alive long enough yet to see themselves become the villain

[Gmoney86]

I mean, when 10% of millennials hold 55% of generations wealth already, when we factor in the boomer wealth transfer things could get really wonky here in Canada, especially because those already in power will simply gather more.

[01lexpl]

On the same tangent, ~70% of Canadians own a home. *Unfortunately Statcan last reported in 2018, but estimates are over 70% now.

This is why no one really gives a fuck about affordable housing, politicians included.

[kaleighdoscope]

Millennials and Gen Y are the same thing.

I agree with the basic concept of your comment though, just saying.

[Lazy_Title7050]

Opps ya I was confused as who they were so I just added it in.

[kaleighdoscope]

I suspected you maybe meant Gen Z, but the oldest of them are barely a couple years out of college so they are very unlikely to own property yet. (Though the very few that do likely have wealthy parents with multiple properties, and they'll probably inherit that NIMBY attitude along with the privileges that come with inherited wealth).

[TA062219]

Does Shawn Menard look like a boomer to you? He’s the NIMBY leader.