Boomers: What Happens Next

Added: 2026-06-02

[00:00:00]The worst transition is next generation getting it. That is literally such a step back in time and in a way you run your society that you become just the ovarian lottery winner.

[00:00:16]>> He's old and he's got a lot to say.

[00:00:22]You know, I was raised to believe that demographics ruled e economics, that these age curves, these these times of life when there's bigger population groups and and yeah, they the the the idea is the boomers rule the world because there was so many boomers and it's kind of turned out that way. I mean, because like and I talk about boomers all the time and they boomers get mad at me about it. They say stuff like, "Shut up. Shut up. Don't talk about that. Don't say we were lucky. We weren't lucky. We worked our asses off. We weren't drinking lattes.

[00:00:55]We weren't taking all these trips. Yeah.

[00:00:57]Yeah. Shut the [ __ ] up. You were lucky.

[00:00:59]Okay. You're just You're pretty damn lucky. Not saying you didn't work. You worked. Okay. But you bought a house for $79,000 and a pack of chewing gum. Okay.

[00:01:09]Like come on. Jesus. Okay. So boomers are starting to move into a very advanced age bracket. Like the very first echelon of boomers, the people who were born in 45 46, they're 80. Yeah, they're 80 now for God's sakes. Okay.

[00:01:28]And for the next 10 years, more and more and more and more boomers, well, not the dead ones, but more and more boomers will become in their 80s, right? And I got to tell you something. As an old guy, 68 years old, I could tell you 80 is old. Okay? Now, I get it. I get it.

[00:01:46]Everybody's going to say, "Oh, no. My grandma, she's 88 and she's like, oh, she's she's baking tarts and she's, you know, she's going, "Yeah." Okay. Oh, and there's a man in Sweden. Yeah. There's a guy in Sweden. He's 90 and he's running a marathon. Okay. Listen to me. For every one of the super active 80-year-old grandmas and the super Swedish running guy who's 90, every one of those, there's another 150 that are pretty [ __ ] up, that are not healthy, that are not in perfect shape, that are not So these boomers who are going into their 80s now are stumbling around these houses all over British Columbia and Ontario particularly everywhere too, you know, everywhere. the the boomer generation is the biggest demographic piece that we have in Canada. But they're stumbling around these big houses because when they bought the houses, they were very reasonably priced and they were nice lots and they're nice neighborhoods and there's nice homes and so they stayed and but they're just getting too goddamn old. Okay, they're they're getting to a point where it's not even rational. They don't even they're they don't completely feel that they are comfortable rattling around these big homes by themselves at these well couples and then eventually singles, but it's it's they're starting to think about it that it's maybe not appropriate. And by the way, 30 35 years ago, people thought about it much earlier. Yeah. They thought about it much earlier. They thought about it in their as soon as their kids were all gone and they started getting a pension.

[00:03:20]They're in their 60s, 70s. They thought, you know, maybe we need to get in a maybe we should just move to a townhouse or we move to a nice apartment apartment and we live there and it's going to be much easier on us to take care of everything.

[00:03:33]But that doesn't happen much anymore.

[00:03:36]Why? Couple reasons. We didn't build enough goddamn town houses and some of them unfortunately recently some of these town houses are pretty shitty. So we really didn't build enough in British Columbia and Ontario. Check the numbers.

[00:03:49]We just didn't. Next, we never built small homes. Like, there's no bungalow.

[00:03:54]Nobody builds a bungalow anymore. Okay?

[00:03:56]You don't see them. There all these big huge two stories. So, there wasn't many places for an there's no apartments.

[00:04:02]There's condos. And when the boomers looked at condos, they said, "Fuck me. I don't want this." Okay? I don't want this bad layout, crappy finishes. Even the bigger ones, even the ones that are like $900 a million. Well, that was a crappy one. Million dollars, but forget it. They didn't want it because boomers were very sensitive to monthly maintenance fees because they realized even if they bought the condo for cash, if the $700 a month, $600 a month maintenance fee went to $1,100 in 5 years or 6 years, that was going to be very difficult for people on a sort of a fixed income. So, they didn't like the new condos. They didn't really like a lot of them didn't like them. Okay? They probably would like a $3 million one fine, but that didn't that didn't make that wasn't reasonable for most people, obviously. So, what's the story now with boomers who are getting to be 80, it's like this?

[00:04:58]They will have to sell the home.

[00:05:00]Absolutely, they'll have to sell it. But these homes are large homes. And in British Columbia and Ontario, they're still very expensive. Way too expensive for people with normal incomes. Okay.

[00:05:12]So, will it be more foreigners buy them or will it be more who's going to buy them? Well, there's actually a case that I hear sometimes. Well, we're going to see if we can just transition our kids into it. Like, we'll move out and our kids will move in. Well, the kids are in their 50s obviously. So, that also in itself is [ __ ] up. Okay? It is the opposite of everything that our society should be based on because what it becomes is a feudal society. It's returning back to when the uh the manor house, the land was passed down to the first born, which is [ __ ] wrong. It's all wrong. I mean, what are we trying to create here? We trying to create a new Duke of Oakville or you're the countest of Shaughnessy. Okay. Like this is stupid [ __ ] that it just keeps getting passed down through families.

[00:06:08]That's crazy. And yet we hear about it these days. It's I don't think it's going to be a thing actually, but we hear these discussions that this might be what we see coming up. Okay. And this is nuts. So let's ask ourselves, what are these boomers going to do? In all likelihood, they will have to leave. Uh sometimes they will finally bite the bullet and buy a condo or something like that. But we're in this weird position where these people have planned that their home. And by the way, I understand that people love their home. I understand as you get old, you say, "I don't want to move. I don't go to a new neighborhood. I don't get a new doctor.

[00:06:52]I want to be able to go to the same places I've always gone. Same restaurant, same everything. I like my neighborhood.

[00:06:58]I get it. I get it. I'm old." Okay. But eventually it's just impossible. It just turns on you. So they will have to transition and what'll happen next. Thing is for too many of them this huge increase in property value was their retirement plan. So, when they find out that the condo is very expensive, the townhouse is is probably out of reach, it's going to be more of a problem. Don't get me wrong, there's a great benefit to buying a house for, you know, 79 grand in a package of gum, okay? It was a huge benefit, but there is going to be this transition that is not necessarily because every kind of property is too expensive in Ontario and British Columbia. Yeah.

[00:07:49]There's going to be this transition that's not necessarily going to be comfortable. But the worst transition is next generation getting it. That is literally such a step back in time and in a way to run your society that you become just the ovarian lottery winner because your family owned a house. It was free and clear and they're passing it down to you. That's terrible.