4 ms·
It's interesting. I believe it's going to be a crisis, at least here in Canada, where our boomer bulge is the largest in the world. Much like our southern nei
by tatsuke95 14y ago
It's interesting. I believe it's going to be a crisis, at least here in Canada, where our boomer bulge is the largest in the world.
Much like our southern neighbours, our soon-to-be-retirees don't have much in savings, and the vast majority of their net-worth is tied up in their homes. Unlike the US, we haven't had a housing price adjustment yet. So these boomers are counting on having the current value of their home as their future retirement fund. But as we've learned, that number may as well be fairy dust until someone hands you a cheque.
So what happens when these boomers go to retire, and they find out nobody can afford (or wants) to buy their $500,000 McMansion? When every boomer actually has half, or worse, the amount of money to retire as they thought?
- JonnieCache 14y ago>When every boomer actually has half, or worse, the amount of money to retire as they thought? Goldman buys them all up at a bargain rate and rents them to those of us who can afford to not live in the global megaslum?
- api 14y agoAt least you've got Saudi Canada out in Alberta that can help pay for some of it.