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- cross-posted to:
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Paying taxes on a half-million-dollar capital gain from a cottage or an investment property is a good problem to have
Paying taxes on a half-million-dollar capital gain from a cottage or an investment property is a good problem to have
Having moved here from Sweden (and having just returned from a trip to Sweden) that 50% number is highly inaccurate when measured against the entire population. Swedes these days find themselves very much in a similar rent/purchase crunch we see in Canada, with most young people struggling to find affordable housing. The generation that owns those cottages and boats are the older Millenials, Gen Xers and Boomers, generally speaking.
The older millennials are not really all that old. Early 40s?
Yeah, that’s about right. Even so, I’d wager the majority of people owning a cottage or boat are older than the millennial generation.