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Canadian Home Prices "Need" To Be High To Pay For Retirements: PM - Better Dwelling
(betterdwelling.com)
this post was submitted on 30 May 2024
63 points (90.9% liked)
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It's not the simple unfortunately, because of 2 factors:
Our boomers are a very large generation, larger than the millenials
Life expectancy has increased so people live much longer (with high medical costs)
In the 70s - 2000s we had a large generation of in their working years paying for a small generation's 5-10 year retirement
Now, we have a small generation in their working years paying for a large generation 15-25 year retirement
And this is not something we can solve by just "taxing the rich". The numbers are so huge that taxing Canada's richest people is a drop in the bucket
Life expectancy has been decreasing.
https://globalnews.ca/news/10116838/life-expectancy-decrease-canada-stat-can/
There's been a slight downtick in recent years, but it's still up +10 years from 1970
https://www.macrotrends.net/global-metrics/countries/CAN/canada/life-expectancy