4 ms·

> many of the issues tied to the destruction of the middle class are much larger than just job availability. Isn't job availability the biggest issue when it c

• mistermann 9y ago
  In Canada anyways, a combination of 10+ years of zero interest rates, culture, and who knows what else has resulted in a housing bubble such that even if you have a fantastic job, in many cities you're not going to be able to buy a house, ever. And now, because any policy change (normalizing interest rates for example) that might affect these precious lottery winners is a non-starter. Meanwhile, this bubble is well underway bleeding into the rental market. So it is literally government policy to create a society of have and have nots.
  • TheAdamAndChe 9y ago
    I think the insanely high housing prices are also largely due to the centralization of most new jobs centering around urban areas. People go where the jobs are, which drives up demand for urban housing. That's how it is in much of the US, at least. I'm not sure if Canada is different.
• arca_vorago 9y ago
  Primarily it is one thing, a lack of economic mobility. Things that factor into that are stagnation of wages, increasing wealth inequality, and the fact that policy has been shown to favor the wealthy. The other commenter also touches on key points, rising rent cost as a % of wage, lack of ownership compared to past generations, lack of interest bearing accounts, etc. Trick up is real, trickle down is the myth.