A new report by housing researchers at Statistics Canada highlights the growing inequality in Canada, particularly in terms of homeownership. Young adults with parents who own a home are twice as likely to own a home themselves, creating a disadvantage for those without parental homeownership.
It’s not every day you are cited in the introduction to a Statistics Canada study. But that’s what happened this week when a new report by housing researchers at the Crown corporation highlighted my 2021 column, titled 'Disturbing Trend Towards Inequality in Canada '. Michael Mirdamadi and Aisha Khalid discovered young adults who have parents who own their home were twice as likely to own a home themselves.
It is now a big disadvantage in Canada if you don’t have parents who own a dwelling, a phenomenon examined in my earlier column. It explored the views of famed French economist Thomas Piketty on the growing chasm between those who live on accumulated wealth and those who get by on wages. This report confirms an unsettling development for a liberal democracy such as Canada, which aspires to reward work and merit and, however imperfectly, offer equal opportunities to everyone. Specifically, the StatCan study found 'people born in the 1990s whose parents were homeowners were twice as likely to own a home in 2021 than those whose parents were non-homeowners'
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