GENERATION SQUEEZE | Canada has 'broken generational system' says policy expert

Paul Kershaw, founder of Generation Squeeze, explains how the Trudeau government can help restore affordability in Canada.
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[@Headinavise]

In the 1990's you could work at a store, a warehouse or be a bus driver and be able to afford a 4 bedroom house with a 2 car garage. Now you go to school for years building student debt to get a 2 to 4 year "education" to get a job that has no job security and you will never be able to afford a house.... What progress Canada 👍

[@on2thenextthing]

That's not entirely true unless someone was living in some remote hick town in the middle of nowhere. If you wanted a decent house in the 90s in a major city both parents had to work, unless it was some old 50s dive, in which case your square footage would have been minimal. If it was Vancouver or Toronto it was still expensive compared to cities like Edmonton and Calgary.

[@jasonjamesbisson]

​@@on2thenextthingI'd sooner live in some of the hick small towns than most of these cities an towns with homeless all over the streets and no real place to disappear to and have some peace aside from maybe your own house or apt.

[@norvanman6125]

Lol, this is completely untrue signed Gen-X

[@Headinavise]

@@norvanman6125 ..and ?

[@Headinavise]

@@on2thenextthing My friend got married in 2003. They bought a house in Calgary for $245,000. It was even a custom home. You could easily afford that on a "regular" job. He worked and his wife was going to school. You only needed 5% down back then. 2002 a friend bought a house in Edmonton on 137 st. It was $180,000. He worked at Safeway and had no trouble paying for it by himself. A cousin bought a house in Brantford ON in 2004. Again single income. Not entirely true...?

[@aidandevlin2298]

This guy said that no party has said the hard work isn’t paying off right now? Bro Pierrr Poilievre has been saying that for a year now??

[@aidandevlin2298]

Trudeau needs to be out of office asap. Such a horrible prime minister on all angles

[@cbernard6410]

Plain evil that’s what he is and definitely needs to go.

[@bonbonvegabon]

keep crying underachiever lol@@cbernard6410

[@ariesgray3]

I bought a property in Northern Ontario, less money but more land. Living off grid, and living within a very strict budget for years. We grow our own food, maple syrup, firewood. It is rewarding.

[@jumbome7420]

Lol living off grid but using internet and KZbin.

[@ariesgray3]

@@jumbome7420 why not? I run everything off of solar.

[@on2thenextthing]

You're one of the smart ones. The rest are just whining that they can't buy a four bedroom luxury house as soon as they get out of school. The level of entitlement is ridiculous. We all started with apartments in the '90s and 2000s. Then we worked up to townhouse and house. It seems there's a couple of generations that just don't get it.

[@MikeyPaper]

Ya... but who wants to live like that?

[@jumbome7420]

@@MikeyPaper no one but granola crunchers and the paranoid

[@cuassy]

Did you guys catch the underlying message? This guy wants to tax homeowners

[@on2thenextthing]

If you voted liberal or NDP, you have no one to blame other than yourself.

[@jumbome7420]

Exactly

[@bonbonvegabon]

I always vote lib and Im a Toronto homeowner. Stop blaming Justin for your poor choices in life like cons always do lol

[@Keepasking123]

Pierre has been saying this exact thing for years! 🇨🇦

[@eanerickson8915]

You should go to a university library and look at the books on display. I can tell you one thing about the future of Canada: Be afraid.

[@crazypuss007]

Blah, blah, blah. You've had 8 years - time for a change!

[@scottblackburn2969]

Gen X here. Thanks for coming out! It’s been like this for decades

[@seganmansfield3071]

He literally thinks homeowners are all millionaires? Why do I feel like some new taxes are coming.

[@theresaeisenbarth]

The conservatives have been talking about these messages in Canada

[@MerrySnow-o6n]

Boomers alone cannot fight Trudeau, the Liberals, the NDP. If the Liberals and NDP are voted out, we will get the policy changes. If Millenials vote enmasse against the NDP and Liberals going forward - provincially and federally - this can turn around.

[@sherdonforbes3480]

If you are young and smart you will save up as much as possible and leave the country. Nothing will ever change. You can't start a stable family renting or you will eventually lose your family. Canada is finished

[@flailmail7069]

​@@sherdonforbes3480can always get a mortgage

[@thedude6520]

But I thought Libs said Canada wasn't broken?! FJT

[@kevinbeausoleil8104]

Hearing from Trudeau is a waste of air time as all he does is talk with empty promises.

[@bonbonvegabon]

Late stage capitalism in action.

[@wifferste]

For those who aren't aware, this is the guy who lead that study that supported taxing the wealth in primary personal residences. This study got hundreds of thousands of dollars from the liberal government through CMHC. Right now, when a primary residence is sold, there is no tax (capital gains or whatever). That will change if the government follows through with this proposal and it's likely they will. And what wasn't widely reported either was this guy and his group were among the speakers at the Liberal cabinet retreat in PEI earlier this week.

[@sherdonforbes3480]

Nothing will change save up and leave the nation permanently. Cant start a stable family renting or you will eventually lose your family.

[@eanerickson8915]

This isn't new. We have had 40 year of boomer policy. You are a fool if you are going to try and pay for this.

[@spencermatthews5942]

I'm Super! Thanks for asking!

[@danielhicks]

Plans, not platitudes!

[@Prairieshutterbug64]

LOL prices for RE need to stop? How long do you think it will take for wages to catch up to current prices? 20 years?

[@teresagee7143]

Liberals can promise whatever you want to hear delivering is another matter

[@bcc5084]

The budget of balance itself, sunny ways , sunny ways my friend. The interest is at historic lows so go borrow, borrow borrow

[@bcc5084]

Thanks Turdeau

[@mattdobbs-dr2rt]

Its genocide 🧡

[@jumbome7420]

Nothing to do with genocide

[@mattdobbs-dr2rt]

@@jumbome7420 no proof eh 😭🍊

[@jumbome7420]

@@mattdobbs-dr2rt where’s the proof ? I will wait. How’s the weather in Alberta

[@jumbome7420]

@@mattdobbs-dr2rt ?? No proof ? Let’s see it

[@mattdobbs-dr2rt]

Think about you fukin goof😂

[@BruceBright-e9b]

Venezuela come to mind

[@cheettaah]

Thanks, Dr. Kershaw, for advocating for attention (and hopefully solution) to these problems.

[@pw3858]

Generation Squeeze thinks working for 5 years should get you the same as working for 40 years.

[@ponzitizen]

What is the % of politicians who have multiple investment properties?

[@jgsawka]

I've heard on Market Mania that upwards of 40% of politicians own investment property. Likely a big reason that they don't want to change the status quo.

[@ponzitizen]

@@jgsawka thanks... I bet they also claim taxpayer incentives on the investment properties as well on top of what the taxpayers already pay them... Seems like double dipping the hands that feed them with major conflict of interest on housing related matters...

[@mickfoley1413]

11K views and only 164 likes. Hmm. Imagine if the dislikes were enabled the story that would tell.

[@Brad.777]

Trudeau has done this!

[@ftakenouchi1464]

Thanks Trudeau and Jagmeet. I’m out.

[@pw3858]

Translation....this guy wants to tax your principal residence

[@lornajamroziak9307]

Who is he?

[@chrisn2125]

What is this guy talking about…Conservatives have been talking about housing and how to build more houses and about incentivizing those who are able to meet the quotas. Do a little homework!

[@patrykdrozd2637]

More like tapping into the hunger

[@isaiahsmith8523]

Well said! 👏🏾🙌🏾👏🏾

[@davecappy1407]

Pierre for PM !!!!!

[@TheRickRoller1]

No need for fancy new politics. Just stop subsidizing the residential markets with government money. And stop catering money policy to homeowners. The market will do its job and tank because there won’t be demand without these artificial stimulus. Problem solved.

[@amb-yz9ee]

This is awful advice

[@devinmcmanus]

This guy seems to have his thumb on the pulse of Canadians.

[@borealranger9763]

He's just repeating what federal Conservatives have been saying for 2+ years.

[@jtome84-91]

For sure just repeat the platitudes and never offer any solutions .

[@francesbernard2445]

My oh my what a controversy only a nickle can spark among greedy all the time coin collectors who know what the worth is of a lot of coins not only just one. Say a nickle given to a grandson with a date written on it from the turn of a century after long ago a rare coin found on the sidewalk by a mom got taken away from a villian who was determined to make it big through only His paid hard work.

[@happyprogressivepoop1422]

When revolution?

[@Keepasking123]

When I listen to Pierre, I don’t feel angry. I feel hopeful! 🇨🇦💯♥️

[@rome2989]

Trudeau has to go!

[@wheressteve]

They have their homes, vacation properties, generous pay, platinum benefits and a large Government pension.....why would they care about anyone else's financial problems ? After all it's all theoretical if it will never affect you personally. Having imagined empathy while on your dock at the cabin on the lake doesn't really count as solving any problems.

[@zomgoose]

no one cares about Gen X... 😄

[@crystalclear111]

Well I'm a xennial...we're a small percentage and I sure care lol

[@zomgoose]

@@crystalclear111 I care too! 😺

[@stevebyra7795]

This guy has apparently never heard Pierre Pollievre speak.

[@rabeasaab7631]

I feel like this person is trying to say that they want to tax current home owners

[@ian2487]

As a young person, I feel like the taxes I pay funds a lot of programs that I don’t qualify for or use. I’m broke.

[@Solemn_G]

No one is simply blaming international students, but they play a big role in the housing crisis

[@flailmail7069]

Yes they do, most of the time because they will pay whatever regardless of the cost.

[@Solemn_G]

@@flailmail7069 exactly. They accept the worst living conditions and make that the new standard of living for everyone else due to the sheer volume of them. Hence why they should be reduced significantly

[@zomgoose]

The Canadian economy is in stagflation. Eventually, the government will be forced to make a choice between deflation and inflation. Their track record indicates a preference for one. Canadian homeowners don't want valuations to go down. They want to keep their free gains at the expense of the younger generations. Politicians are also terrified of a price correction. None of them mention deflation, as a fix to the massive problem. Harper started the path and Trudeau fed into it. Both parties are only concerned with themselves, not actually fixing the problem. It is going to be a long time before wages catch up with runaway housing prices. Deflation is the quick fix. Inflation and stagflation will be a long-drawn-out process with a lost decade(s).

[@on2thenextthing]

The housing issue was here long before Harper. Just look at BC, run by NDP and liberals for eons. They've always had an issue with house prices all the way back to the '90s.

[@ryuuguu01]

@@on2thenextthing This is the key "Canadian homeowners don't want valuations to go down. They want to keep their free gains at the expense of the younger generations." Homeowners don't want affordable housing they consider it a disaster, and homeowners vote more. They also want to complain that their kids can't afford a house.

[@MikeyPaper]

We've been in stagflation for over a year now. Its just getting started. Commodities should do fine though. REITS and energy (oil) go go go GO!!!!!!!

[@theindependentcanadian7698]

The price correction aka bubble bursting was ALWAYS on the horizon… that’s what happens when you keep interest rates artificially low for so long

[@maxineporter8848]

I agree. If a capital gains tax was put on principal residences, it would cause a massive drop in the market prices. The boomers would vote any government out of existence if they tried that. Deflation would be a quick fix, but the current minor downward corrections get reversed withn a few years. The bubble needs to be popped. Wage growth of inflation at 2% (let's use the BoC goal) will not keep up with annual RE gains in the current conditions.

[@eanerickson8915]

Forget road. Canada is firmly on the expressway to serfdom.

[@cassidythecarpenter6497]

Don’t call them boomers for a start.

[@keralakora]

Roughly £120k in my portfolio are in tech/TSLA stocks, can I get an advice on any other stocks that I can acquire to diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation.

[@FloriKrueger]

I engage in various prolific Investments by compound interest & leveraging and as well operating with an Investment Professional Kayla Rodrigues, So far I've attained returns of over $72K last month

[@Natasha-q2u]

°I turned over $8OOK in the past 2 years despite the rough turns, guess how much capital was invested? 270k or less. I am fortunate to work with Kayla I was part of the Gamestop Saga under her guidance

[@rabeasaab7631]

He wants to tax your gains on your personal home.

[@evhvariac2]

Propagandist

[@hamadhayat9868]

No collapse the market

[@lynnewilliams542]

I doubt that Pierre and his Cons can do any better. but they might be tighter with the cheque book. they cannot do much to help with the housing problem any time soon

[@LarryMountain-l4n]

This person needs to listen to Pierre Pollievre. It’s exactly what Pierre keeps saying.

[@mason2800]

These are the generations of esau that is edom..

[@JamesMcNeillmcneilmortgages]

Doom and gloom? Hope, to get rid of this Liberal-NDP government.

[@clientbuilding8737]

How can he say no party is listening. He obviously is a Liberal. Poilievre has been saying how the Conservatives would fix this for months!

[@amyseaden9069]

He doesn’t give a way that will actually solve the housing issue though.

[@mikebyers1873]

You can tell just by how he speaks

[@clientbuilding8737]

@@amyseaden9069 sorry he does. Lower inflation that will lower interest rates. Sell off Govt property to build more housing. Remove gate keepers to speed up builds. Etc

[@esparda07]

As long as there are still more homeowner/landlord voters, things will never change.

[@mikebyers1873]

Qatar has zero percent tax

[@carmenlajoie2719]

What has 🇨🇳 done? Poverty allieviation-trained & hired 450k Nurses & Doctors. Vocational schools for Engineering Trades-Healthcare-Sciences. Infastructure/modernization amazing. Resources are Nationilized & currency onto gold. CGTN The Point-Hub-Heat, RT International

[@hamadhayat9868]

Wait till the wage = current prices? Spend years if not decades of money on a market to line the pockets of greedy investors/banks

[@BDee3126]

“Canada is not broken!” -Clowns

[@Poppinwheeeeellllllieeeeez]

Vote for PM Pierre.

[@bonbonvegabon]

BAHAHHAAHAHAHHAHAHAHA

[@stancoleshill8925]

TOO LATE NOW. . . . . . .YOU'VE HAD MORE THAN EIGHT YEARS AND LOOK WHAT YOU'VE DONE ! ! ! !

[@SandraPriebe-b3p]

What you are proposing is taking equity away from these kids parents by taxing their 40-50 years of hard work and sacrifice, which is these kids “inheritance”, and leaving seniors at the mercy of their children to look after them in their retirement. Keep your hands off my kids inheritance!

[@JHabc]

What inheritance? My parents were younger than I am when they had their mortgage paid off entirely when my grandparents died. My parents are now both dead and that money went to his new wife. Her brand new luxury 3 bedroom home in a resort style community is paid off and she going on luxury cruises around the world. My brother and I live in one bedroom situations in terrible neighborhoods. I don’t expect to see a dime.

[@whatthepick]

@@JHabc Sounds like you needed a lawyer to contest that will

[@rachelk8368]

Boomer

[@JHabc]

@@whatthepick sounds like the system needs to change so we’re not so dependent on generational wealth.

[@whatthepick]

@@JHabc But of course still doesn't mean that a lawyer wouldn't be worth trying with an estate situation like that

[@andreaspilar8335]

This is EXACTLY what we need!! Kuddos to Kershaw for speaking the truth!

[@canuckzed]

What he's calling a broken generational system is a broken family system. If my kids were selfish lazy and demanding, why would I help them?

[@Blericify]

Because that's what a decent human being would do.

[@createone100]

We all know the problems. Solutions, please. Poilievre has noth-ing to offer.