According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.

  • cygnus@lemmy.ca
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    1 year ago

    Mostly millennials and GenX. It’s easy to blame boomers but they aren’t the ones buying most of the houses.

    Edit: looks like this hit close to home with the “muh boomers are the root cause of all evil” crowd. This is your reminder that the youngest boomers are now 60 years old. You’re also out of your mind if you think homeowners aged 35 to 59 wouldn’t scream bloody murder if the government somehow managed to suppress home prices.

    • SketchySeaBeast@lemmy.ca
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      1 year ago

      I’m an older millenial and me and my cohort didn’t have property in 2010. Took us to ~2015 to start having enough cash. Now I see people saying “that is rent is double my mortgage payment”! Not mine. Mine is still higher. Can’t wait to have to re-sign with the higher interest rate.

      Not a “boo hoo, my life is hard” thing, I see what side of the rift I managed to get on, but it’s not totally rosy either for us late movers.

    • jerkface@lemmy.ca
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      1 year ago

      Millenials and GenX are still working on their 40-50 year mortgages. Boombers paid off their 20-30 year mortgages ages ago. Housing prices have to stay high, because that is Boomer’s retirement investment. If housing prices crash, instead of homeless young people we have starving Boomers.

    • Mossheart@lemmy.ca
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      1 year ago

      I’m in the 35-59 year old bracket and desperately want home prices to drop. I’ve done everything our parent’s generation said to do to succeed and the goalposts move faster than I can make money.

      When two adults making low six figures can’t qualify for an average home, something is deeply deeply broken in this country.

      The shitty part is there’s no one in government who gives half a shit about it to actually do something.

      • cygnus@lemmy.ca
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        1 year ago

        I completely agree. It’s practically sociopathic at this point. And I say this as someone who bought a house 12 years ago that has “doubled” in value.