More than a third of young people say they are foregoing children because they can't afford a proper home for them
Statistics Canada confirmed last week that 351,679 babies were born in 2022 — the lowest number of live births since 345,044 births were recorded in 2005.
The disparity is all the more notable given that Canada had just 32 million people in 2005, as compared to the 40 million it counted by the end of 2022. In 2005, it was already at historic lows for Canada to have a fertility rate of 1.57 births per woman. But given the 2022 figures, that fertility rate has now sunk to 1.33.
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Of Canadians in their 20s, Statistics Canada found that 38 per cent of them “did not believe they could afford to have a child in the next three years” — with about that same number (32 per cent) saying they doubted they’d be able to find “suitable housing” in which to care for a baby.
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A January survey by the Angus Reid Group asked women to list the ideal size of their family against its actual size, and concluded that the average Canadian woman reached the end of their childbearing years with 0.5 fewer children than they would have wanted
“In Canada, unlike many other countries, fertility rates and desires rise with income: richer Canadians have more children,” it read.
Tax domestic speculators. It’s such an easy solution. It’s going to be painful because it’s been allowed to happen for so long. Canadians are doing this to other Canadians but no politician wants to do this to help end this gross cycle of exploitation, add in the fact provinces like Ontario that remove things like rent control and things become even further out of reach.
Because it’s political suicide. They have a Silver Tsunami coming up, and thanks to a) many companies weakening retirement plans (defined benefit? LOL), b) recessions wiping out people’s savings, there’s been a concerted shift to using home-ownership to bandage over old-age income security.
Prior to this, moderate investment and company pensions were enough to see you through, but that’s largely gone–just another part of our society that we sold off so that the rich can get more tax breaks. The cherry-on-top? We sold off LTCs to private companies, so elder-care is now a for-profit luxury.
The only way Boomers can retire is home equity. Heck, it’s the only thing fuelling our economy in general.
Of course, this is fixable: tax the rich. Pay for a society that works for everyone, not just Galen Weston or David Thompson. It would have been easier to do this back in the 1990s (before the problem really started in earnest) or before 2018 (when it got fully out of control) but it’s still possible.
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Tax domestic speculators. It’s such an easy solution. It’s going to be painful because it’s been allowed to happen for so long. Canadians are doing this to other Canadians but no politician wants to do this to help end this gross cycle of exploitation, add in the fact provinces like Ontario that remove things like rent control and things become even further out of reach.
You’re right. Supply May be an issue, but it will take decades to rectify. We can change tax, zoning, and immigration policy right now.
Because it’s political suicide. They have a Silver Tsunami coming up, and thanks to a) many companies weakening retirement plans (defined benefit? LOL), b) recessions wiping out people’s savings, there’s been a concerted shift to using home-ownership to bandage over old-age income security.
Prior to this, moderate investment and company pensions were enough to see you through, but that’s largely gone–just another part of our society that we sold off so that the rich can get more tax breaks. The cherry-on-top? We sold off LTCs to private companies, so elder-care is now a for-profit luxury.
The only way Boomers can retire is home equity. Heck, it’s the only thing fuelling our economy in general.
Of course, this is fixable: tax the rich. Pay for a society that works for everyone, not just Galen Weston or David Thompson. It would have been easier to do this back in the 1990s (before the problem really started in earnest) or before 2018 (when it got fully out of control) but it’s still possible.