#In the first issue, I will briefly cover the issue of inequality.
The odds of me owning a home in the next 10 years are slim to none. why is this? is it my fault? is there anyting i can do to improve my odds? I am 24 years old, and I have recently graduated from finance. I had to pay my way through university, while working full time. Thanks to that, I was able to graduate without any student debt. Unfortunately, my GPA slightly suffered. I wasn’t able to land one of the ultra prestigious jobs that pay 100k+ from year one. i have a moderately great salary, but nothing exceptional. 25 years ago, this would have not been an issue at all. Housing prices were at a reasonable cost. for example, montreal, where i live, has a price to income ratio of 7.1. that means that median home prices cost 7.1 times more than the median (pre-tax) income in 2024. In 1999, it was aroudn 3.6. this is just one measure of how hard it has gotten in the past 25 years. what has made for that difference? the wealthy are hoarding all of the gains. waelthy old folks are profiting off of everyone else. They are able to generate enormouse passive returns on their assets, and use those assets that are barely taxed compared to income tax to buy up more assets, furthering the gap between the wealthy and the poor.
This issue is only going to worsen the quality of life the canadian people as time goes on. Already we see how hard it is for torontonians and vancouverites.
What is the solution to this? I believe it is to slow the constant growth mindset. We are not a cancer on this world, we can learn to live in harmony with the natural systems that have supported humanity for hundreds of thousands of years. The governemnt should implement a higher inheritance tax (there isnt one in canada at all right now).