It isn't the grandparents that are starving the kids: its you (that is the current working group) who are doing so by insisting on being pampered by the state and paying to assuage your guilt over everything from rain forests through to the treatment of polar bears at the dump in Churchill instead of taking responsibility for this your world. We gave it to you in not too bad a shape back around and just before the turn of the century and you have screwed it up royally. You go out and buy your quad., your boat, your F150 and your other toys but expect the government (me) to pay for your children's daycare, their breakfast and, at least in Toronto, now their lunch as well. Since the well is going dry you push to remove benefits from your grandparents or stick them in homes so you can cash in on the house that they paid for, dollar by dollar. The seniors have had very little to do with the price of housing being what it is. In fact, many seniors that I know have paid their grandkids down payments or are contributing to the rent. So until you are ready to cash in your toys to help the kids and they are your kids, not your parents', kindly drop it.
Grandparents have money because they invested instead of buying. I am earning well above average on my investments: not any pension plan and I am not an exceptional investor; just followed sensible advise although it took a bit of time and a lot of nail biting before I wised up.
Your generation started the whole being pampered by the state, Trudeau Sr. was put in power by your generation and the long term cost of his policies have just been taken on in debt. You all didn’t pay your way and now complain about those who are born into the system you all created not having any funds.
Most people can’t afford a quad, or boat, or house now. Yeah there are a few examples (or examples of people giving up on trying to achieve larger goals and just focusing on now) of those that can, but most cannot and do not.
Your generation was known for buying muscle cars as toys, but were still able to afford the house, wife and kids. A couple poor decisions made well young didn’t permanently fiscally cripple you.
You all also chose to stop making government housing which caused the supply of stable low income properties to dry up. Meanwhile your generation has locked into those properties and due to rent control is living like several decades ago on a home.
The median household income is 84k a year. That buys at the high end about 300k worth of mortgage with a minimum downpayment (assuming no other debt or issues).
For a average house in Canada that is 666k they would need a minimum 350k downpayment to afford it. Which your somehow expected to save well still renting (average rent is 2k a month), paying for food, transportation, supporting a family, etc.
If the average family isn’t receiving gifts from grandparents odds are they aren’t making any sort of progress fiscally no matter how disciplined they are, likely substantially more than you ever had to be.
Your generation (and all generations) doesn’t deserve to be paid OAS when they make well above the average income. How about paying down a bunch of the debt you have all left for us instead of stealing from the pot, knowing you will never have to pay it back.
We sacrificed a lot to have a house and healthy bank account. No 3 dollar coffees every morning, few subscriptions, very few vacations. Buy used cars, shopping at church sales and thrift stores. Limiting family restaurant visits, etc. Now we are reaping the rewards of that lifestyle, as will our kids as they will finish university debt free.
No one is saying that people didn’t sacrifice or have to work overtime, to get ahead. What they are saying is those opportunities that existed to get ahead are gone and most are sacrificing just to survive now, not even getting ahead.
Yeah no 3$ coffees helps, but it really doesn’t get that far anymore. Over a year thats 1,095$. Over 40 years thats 40k. Still doesn’t bring your average family anywhere near qualifying to get a average mortgage, let alone buy a house.
It reminds me of that old smokers joke, if you didn’t smoke for the last 20 years you could afford a lambo. The smoker simply says, fine wheres your lambo then?
We have a generation that is giving up because the only way to get ahead is generational wealth or winning the lottery. It shouldn’t be that way, but it is. No wonder so many are turning to gambling.
