Why Young Toronto Buyers Can't Win: Boomers vs Gen Z

You know there's been a lot of talk about how the boomers generation what they really made off like bandits in terms of just having some really great demographic advantages over the current younger generations that are trying to get into the real estate market in expensive cities like Toronto and you know let's call it what it is it is true that the baby boomers generation they did enter the real estate market at an unbelievable time because of population growth and because of rate cycles on all those sorts of things like you know many baby boomers in the Toronto area are sitting on homes that are worth $1.5, $2, and $2.5 million and they paid like $10,000 plus a pack of gum and a six pack of beer to buy that place back in the 70s.

I'm making fun but you know bear with me but all that I'll say to all of that is that it is true younger people if you're a younger person it is way harder to get into the real estate market that is a fact and I don't want anyone to be saying oh yeah but in the 1980s our interest rates are 18% yeah but the house was like $75,000 or $100,000 you can't compare you cannot compare but despite all of this if you're younger person watching this and you're thinking you know that was so unfair it is unfair but there's not a single 70 -year -old baby boomer who would not give up the $2 million house to go back to being 30 years old just like you so like putting things in perspective I'm not saying it's not fair I'm just saying if you're in your 20s or your 30s or even your early 40s and you've got good health all of those folks with the expensive homes they give it all up to be you I guarantee you so you know it doesn't make up for the fact that it's a hard road to home when you're trying to like make a living and the cost of living is so high in Toronto but but at least you got your health and your youth and I'm happy for you and that's all.