In Canada, over 400,000 babies were born annually from 1945 to 1965, which increased Canada’s population rate by 20% (“Canadian”). This period in Canadian history occurred after the Second World War when millions of men returned home to their families or immigrated to other countries with their war brides. Some ended up settling in Canada which dramatically increased the birth rate; their experience and survival of the war caused them to realize how important life is, instigating them to have as many children as they can support bringing about the group of people now referred to as the Baby Boom Generation. The baby boom generation significantly impacted Canada as it helped the young country to recover from the devastating Great Depression. Indeed, the baby boom generation had a positive contribution to Canadian society during the 1950s because it changed the face of Canada in the international stage, increased the Canadian living standard, and established and developed the suburban areas.
The United States’ government had always had a hand on our country’s housing market. From requiring land ownership to vote, to providing public housing to impoverished families, our government had become an irremovable part of the housing market. The effects of these housing policies can affect American residents in ways they might not even recognize.
Baby Boomers make up an overwhelming forty percent of the population. They are a very large and influential group of people. In addition, they are also a very confused and somewhat depressed group who are facing challenges now and will face great challenges in the future.
Throughout Canadian history, certain groups or people polices have affected the population of growth such as population decreasing when the men left for WWI or WWII. However, the most influential group of people for Canada’s demographic change is the baby boomers who are generation born in between 1946-1967, that are famous for increasing the economic growth in Canada. Nonetheless, the baby boomers are now aging and are either 65 or going to be in the next few years, thus with their aging problems arise regarding the improvement of healthcare, the slow economic growth and the changing of the housing market will cost billions for their changes in Canada’s near future. To begin, the healthcare in Canada must expand their hospitals and have special programs for seniors. The baby boomers (represent 29% of population) will be 65 and over, will now be using the hospitals more frequently. Canadian hospitals must change how their system works. Instead having a few rooms for long-term patients, the hospitals must expand for the seniors. Moreover, the government Canada must spend more money f...
When World War II ended there was a surge in the U.S. baby population, which is rightly called the “Baby Boom”. This “baby boom” goes from 1946 to 1964 (the post WWII in 1946 to 1964). By the end of the “baby boom”; those labeled “baby Boomers” made up 40% of the population in the U.S.! (history.com) Analysts are concerned about this aging population and the obsticles it will bring to the healthcare system in the U.S.; there will be good and bad obstitcales. This boom is likely due to those who waited to have kids due to the Great Depression and WWII. Many women in the 1940s (8%) decided to wait to have kids; unlike in the 1930s 15% of women decided to wait. Our grandparents looked forward to having kids after the war. They felt that the future of our parents was going to be good. In some ways it is true: large corporations grew larger which allowed them to become more profitable, those working under unions saw an increase in wages and benefits; in turn made buying items like TVs more affordable and plentiful. Many of the “baby boomer” families moved to the suburbs into houses instead of renting apartments. This was due to the government G.I. Bill for soliders and getting them mortgages to buy a home with low interest rates.
Mui, Y. (2013, January 29). Housing emerges as economic bright spot after years in the
From the previous owners and the new people entering the market’s perspective, they are being safe by not investing in homeownership. They believe it is too risky of a business and complications could arise from it. Instead, renting an apartment is the simpler and safer option for families. On the other hand, from the housing market’s perspective, the market is declining, and is in great need of help. The market is does not have any business because the people born between 1985 and 2004 have the tendency to live at home with their parents and delay getting married (Kirkham). As a result, these people delay moving out of their homes and are disrupting the homeownership trend in the long run. By renting homes, families are more stable because if something does happen, they can easier move and find a new apartment. Finding homes is not so easy. In addition, renting ensures buyers that they have a chance to change their lifestyle and progress in it. With a home, they are stuck in one place, unable to expand. What house owners can do is maybe lowers their prices or increase their insurance policies. This tactic will ensure buyers a bit more into buying a house. However, the business must do something fast or else their will not be any houses to sell if the people are
The main focus of Neil Irwin’s article is the ever so rapidly deteriorating economy which seems to be a t a standstill and all this is to be blamed on one thing, a slow housing market. Though the big cities are experiencing fairly good housing demand, the same cannot be said for the counterparts who are their housing developments are not influenced by business but rather their demographic location. Analysis of mortgage uptakes ever since the end of World War Two has seen a promising increase and a rush towards the acquisition of residential homes. On the contrary, this increase has seen a decline for mortgage acquisition since the year 2009 and following subsequent years and recently led to the collapse of market prices for houses and the boom gradually declined.
Opinions differ as to the exact year when the US housing market boom started, but it is clear that from 2000 to 2005 there was an explosion of demand in the housing market. One could characterize the obsession of home ownership as pure euphoria. As prices increased, American homeowners watched as their paper net worth, in terms of home equity grew at unexpected rates. This enticed many people to trade up to more expensive houses as well as purchase second homes. Mortgages could be easily obtained, even without proper income documentation. This led to the highest homeownership rates ever experienced. Supported by easily attained credit lines, unsound lending practices on the part of banks, and poor financial planning on the part of homebuyers, this cycle c...
The housing market can be terrifying for the younger generations when they don’t necessarily understand it, which leads to all the cons when owning a house. The Great Recession brought about a lot of loss and changes in The United States. Many children had to go through losing their houses and their parents going bankrupt trying to pay their
Slowly the economy is recovering from the financial crisis of 2007. As there is no one entity to blame for the financial crisis the all are victims of the rippling effect. Although the government has made attempts to save the economy from falling into a depression, there are no signs of huge growth in the housing market in near future. With the debris of this crisis still visible to many, the only true healer is time.
“The housing market will get worse before it gets better” –James Wilson. The collapse of the United States housing market in in 2008 was one of the most devastating moments for the world economy. The United Sates being arguably the most important and powerful nation in the world really brought everyone down with this event. Canada was very lucky, thanks to good planning and proper preventatives to avoid what happened to the United States. There were many precursor events that occurred that showed a distinct path that led to the collapse of the housing market. People were buying house way out of their range because of low interest rates, the banks seemingly easily giving out massive loans and banks betting against the housing market. There were
...cially since the beginning of the subprime mortgage crisis that sparked the Great Recession of 2008-2009. The ever-growing unemployment and foreclosure rates will further compound the affordable housing shortages that were already existent. The declining of the middle-class and increasing of the wealth gap continues to raise the question over income inequality and racial disparity. Bright minds have to wonder when the government will step in to curtail the problem currently spiraling out of control.
The Canadian population is graying at a steady pace, adding thousands of seniors above the age of 65 in the population charts year after year. This segment of the population needs special attention due to its social, emotional, health, and dwelling needs. Continued growth in the size of aging population is putting pressure on the economy, health care system, and living space for seniors. Planners and policy makers need to pay immediate attention to the issue as it is going to affect all Canadians in the years to come.