I've recently been helping a zillennial friend in Canada house hunt and I cannot tell you how radicalizing the experience has been. Absolute shitholes going for 2x their worth. Houses listed at 4-5x what they were bought at just a few years ago. Swarms of investors clamoring to bid up anything remotely decent. Boomers confidently rejecting even perfectly reasonable offers because they know they can get a few dollars more from some indian caravan pooling 10 incomes to buy their single-family dwelling. The most recent house he went to view had been on the market for less than 3 hours when he contacted the agent and already had 5 blind offers on it he was expected to compete with. Young people have been systematically robbed of the opportunity to own a home - something that was once an anticipated, reasonable, and common milestone in life. The ripple effect of generational and social consequences this has had cannot be overstated.
unusual_whales
unusual_whales15.8. klo 00.57
"There are now more homebuyers over age 70 than under 35," per FORTUNE.
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