Canada's Housing Market is Straight Up a Vibe Check Fail 🏘️📉
'My home is worth millions but my kids can't afford to live here'. Yo, the housing sitch in Canada is sus af. Boomers chillin' on their millie homes while Gen Z and Millennials are like, "Can we even afford to breathe here?" Politicians throwing out cap solutions, but is anyone gonna fix this mess?
TL:DR
Yo, the housing sitch in Canada is sus af. Boomers chillin' on their millie homes while Gen Z and Millennials are like, "Can we even afford to breathe here?" Politicians throwing out cap solutions, but is anyone gonna fix this mess? Let's spill the tea.
The Deets
Okay, fam, lemme break it down. Canada's housing market is giving major "yikes" vibes. Like, your parents' crib is probably worth a milli or more, but you couldn't afford to rent a closet in that same hood. It's a whole generational divide, and it's not cute.
Places like Vancouver and Toronto are the main characters in this drama, but other cities are catching the feels too. Prices are skyrocketing faster than your TikTok views after a fire dance trend. This means youngins are stuck at home, putting off school, or straight-up dipping to find somewhere they can actually afford to live.
Why is this happening? Well, it's a whole buffet of bad news. Not enough houses are being built, construction is expensive af, and zoning laws are gatekeeping new developments. Plus, the population is growing faster than your debt after a Shein haul.
The politicians are trying to look like they're doing something, throwing around ideas like building more homes, tax breaks, and cash handouts. But some experts are saying it's all just performative. Are they really gonna address the fact that older homeowners are stacking bread while the younger gens are stressin' over rent?
Garth Turner from Greater Fool is saying the real estate market is straight up "comatose". Houses aren't getting built, and sales are flopping harder than your attempts at the renegade. The building industry is already bracing for higher prices, which is just the cherry on top of this dumpster fire.
Canada is going through it, and young families are low-key depending on these politicians to cook up a solution.
Abbreviations Glossary
| Abbreviation | Full Form |
|---|---|
| Sus af | Suspicious as f*ck, very shady or questionable. |
| Boomers | Baby Boomers. |
| Millie | Million. |
| Gen Z | Generation Z, people born roughly between 1997 and 2012. |
| Millennials | People born roughly between 1981 and 1996. |
| Cap | A lie, something untrue. |
| Spill the tea | Share the gossip or truth. |
| Vibes | Feelings. |
| Sitch | Situation. |
| Crib | Home. |
| Hood | Neighborhood. |
| Yikes | Expression of being shocked or caught off guard. |
| Main Character | The focus. |
| Feels | Emotions. |
| Skyrocketing | Quickly increasing. |
| TikTok views | Views on video social media site. |
| Gatekeeping | Controlling access. |
| Stacking bread | Making lots of money. |
| Stressin' | Stressing. |
| Comatose | Inactive. |
| Flopping | Failing. |
| Dumpster fire | Total disaster. |
| Low-Key | Secretly. |
| Cook up | Create. |