Lower incomes, lower expectations
“the possessor of such great expectations”
― Charles Dickens, Great Expectations
When the world economy went through a huge upheaval starting in the
1970's–1980's, the standard of living and economic security for the
average Canadian started to decline.
As Asia's economies grew, the North American manufacturing base
collapsed. Nothing took its place. Free trade was devastating. As a
result, the working class took a beating and then it was the turn of the middle class.
There went our standard of living. The Canadian working class dream of a detached
house with a two-car garage and a cottage on the lake is fast
disappearing.
In place of the detached house, are we expected to be thrilled to live in a tiny condo? Is the
family car to be replaced by a transit pass, a bicycle and wider sidewalks? As you will read, public officials
are finally coming out and saying yes; even if you are not thrilled about it.
There is a wave of newspaper articles and real estate reports
suggesting that not only are tiny condos the way to go but that more
and more people will want to live in them.
As far as I can tell, young people like apartment living while they are
young and single but once they start a family, them want a detached
house or at least a townhouse.
If they are buying condos in huge numbers it is because they can't
afford better. MacDonald's sells more Big Macs than Ruth's Chris sells
steaks. It is not because we prefer the far cheaper burgers over steak;
it's what we can afford.
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