well fucking DUH
Canada is facing a number of destabilizing forces — like climate change, disinformation, and young adults never owning a home. That’s the take from an internal RCMP report called the Whole-Of-Government Five-Year Trends For Canada. The report is a “scanning exercise” on evolving risks for law enforcement to monitor. It puts the fact that many people under 35 will never own a home, on par with disinformation and climate change.
Police Worry Canada May Be Destabilized If Young People Realize They Won’t Own A Home
One of the concerns law enforcement is warning about is the impact of eroding economic conditions. Especially when it comes to young adults.
“The coming period of recession will also accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations,” reads the report.
Canada may have seen a pandemic economic boom, but it was largely related to rapidly appreciating real estate. Unfortunately, that doesn’t apply to young adults who saw housing get further out of reach.
“For example, many Canadians under 35 are unlikely to ever buy a place to live. The fallout from this decline in living standards will be exacerbated by the difference between the extremes of wealth, which is greater now in developed countries than it has been at any time in several generations,” warns the RCMP.
Wealth disparity is bad enough, but what happens when that wealth disparity is driven by shelter disparity? It’s a problem not typically seen in advanced economies at scale.
The writing is really on the wall now. And yet, the working class sleeps...
Wait, really? I must be missing something here. Even though it's surprising to me, I can believe that Canada is actually a bit worse off than the US with respect to housing prices. But not only is this a drastic difference (hundreds of percent), this graph implies that from 1989 to 2005 and again from 2008 until covid, the US had a higher real disposable income than the real housing prices and that disposable income vs housing prices in the US have been pretty much in parity the whole time. Is it something like the wealthiest percentiles are skewing the data for the US to make it appear like people in general can afford homes? (GDP shows the economy is great actually!) If that's the case, why isn't the same true of the Canadian data set?
i'm not sure what the y-axis is meant to indicate. looks like the whole graph is a % compared to 1975? but the absolute values of the red and blue line might not have been the same to begin with. I guess you'd have to ask the Dallas Federal Reserve which is the source?