More Canadians will inherit their family home, entrenching inequality across generations
The trend of inheriting family homes in Canada is increasing, leading to potential generational inequality. As family sizes shrink and homebuilding slows, fewer homes are available for sale, making inherited properties more common. This shift could entrench disparities in housing access and wealth among Canadians.
- ▪The rate of building single and semi-detached homes in Canada has dropped significantly over the past decade.
- ▪Family formations are changing, with single-child families becoming more common, impacting how inheritances are distributed.
- ▪The scarcity of homes and changing family dynamics are likely increasing the number of Canadians living in inherited homes.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:Houses in Delta, B.C., in August, 2024. Larger, family-sized homes are becoming increasingly scarce.DARRYL DYCK/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountShrinking families and tepid homebuilding is paving the way to a future where homes will increasingly be inherited assets in Canada, passed down from one generation to the next.It would mark a major shift from family homes being bought and sold, entrenching inequality across generations, with a lucky few inheriting secure housing and appreciating land wealth while others are permanently locked out.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
