Quote:
Originally Posted by 4444
buying power based on what? shitty incomes? the bank's willingness to lend stupid amounts based on asset prices (that if/when they come down, they won't renew).
|
I tend to agree with what you're saying, but this struck me the other day and got me thinking.
Quote:
Baby boomers will inherit $750 billion over the next decade: CIBC
TORONTO – One of Canada’s big banks estimates that $750 billion will be inherited by members of the Boomer generation over the next decade.
CIBC says there are currently about 2.5 million Canadians over the age of 75 with a total net worth of $900 billion or more.
The bank adds that the beneficiaries will be mainly Canadians currently aged between 50 and 75 years.
READ MORE: Retiring boomers could cost economy $11,500 a head in lost growth
CIBC says that it’s difficult to estimate how much of the money will be passed on to the Boomer generation in the future, so it has focused on what Canadians have actually received through inheritance.
It says the average inheritance received by the 50-75 age cohort over the past decade was $180,000.
CIBC forecasts the average inheritance will be higher than that, due to the increased value of assets – particularly homes.
Baby boomers will inherit $750 billion over the next decade: CIBC - National | Globalnews.ca
|
That's quite the influx of stagnant cash that is going to be passed down to the next generation. This could mean higher sales for Porsches, but it could also mean a good opportunity for families to help each other get into the housing market. Let's face it, if we're going the route that Europe has gone, chances are homes in the top markets are going to be kept in the family.
There was another article that says there is $180 billion worth of real estate that is clear title, so no mortgage. That is a lot of money that could be leveraged.
Am I selfish to want the market to cool?
Quote:
Originally Posted by Bahhbeehhaaaa
Where ultra-rich buying homes - Business Insider
|
Who the hell is buying luxury real estate in South Africa?
