Generational Spending Gap
Housing prices in Vancouver have dramatically increased in the past few decades, which is great for many retiring parents or grandparents who purchased homes decades ago. But what is great for retiring parents is generally bad for their kids and grandchildren. High home prices squeeze generations under 45 with debt, with wages that have fallen compared to a generation ago, and in jobs that rarely contribute to pensions. Governments annually spend just $12k per Canadian under 45, versus nearly $45k for every retiree.
Dr. Paul Kershaw will present policy solutions available and facilitate a practical discussion about how to best bring Canadians of all ages together to give younger generations a chance – a chance to deal with lower wages, higher costs of living and an imbalance in government spending and environmental risks without compromising the families they have or the families they may want.