PLAN105 Lecture Notes - Lecture 5: Intergenerationality, Canadian Imperial Bank Of Commerce, Cultural Capital
9 May 2019
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Chapter 7: the privilege of a parental safety net. Millennials are the intergenerational transfer of wealth and resource. In canada, the parliamentary budget office considers 40% of university graduates age. Co-residence: the boomerang kids: significant form of intergeneration transfer for canadian millennials, often in media referenced as a proxy for the narrative that millennials as a generation have failed to achieve key markers of adulthood. In toronto, saving for a down payment now takes three times as long (15 years) as it did. 30 years ago: statistics canada is currently tracking how an estimated 1 trillion dollars is transferred from the greatest generation to their baby boomer kids. Intergenerational transfer in canada will increase in the future, with increasingly reliance on parents" wealth. Chapter 9: generationing housing: the most obvious channel explaining why inequality can persist across generations is the transmission of wealth from parent to children through inheritance. Housing as a dimension of intergenerational wealth transfer.
