Many residents have been priced out of Canada’s housing market, but for a large number of Canadians, their house is a vital asset for retirement and passing on wealth

In case anyone still wants to somehow debate whether the Liberals will deliver affordable housing.

“Housing needs to retain its value,” Mr. Trudeau told The Globe and Mail’s City Space podcast. “It’s a huge part of people’s potential for retirement and future nest egg.”

  • xmunk@sh.itjust.works
    3·
    6 months ago

    Oh, definitely… and the consolidation of assisted living into fewer and fewer PE firms should scare the shit out of everyone - but it is important to remember that a few people would be screwed if the housing market suddenly collapsed… that said, we absolutely should deflate this market - we just need to consider some fixes for the house-wealthy cash-poor older folks who might be really fucked by this.

    • Someone
      1·
      6 months ago

      Yeah, I do think the assisted living industry would be forced to adjust though. It’s not like the real estate market in general, if the majority of their potential buyers simply don’t have enough money it’s not like they can pivot to other demographics or attract wealthy people from outside the country.

      If things aren’t corrected, it won’t be long before a whole generation of new seniors is cash poor with no house to sell.